Kinetiq Staked HYPE
KHYPEA liquid staking token for Hyperliquid.
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About Kinetiq Staked HYPE
Analysis of 9 Feb 2026Kinetiq Staked HYPE (kHYPE) is Hyperliquid's dominant liquid staking token with $828.5M TVL and $709M market cap as of February 9, 2026. Users stake HYPE and receive kHYPE, a yield-bearing liquid derivative earning 2-3% APY while remaining usable across DeFi.
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Launched July 15, 2025, Kinetiq reached $1B TVL within its first month, peaked at $2.63B in October, then stabilized around $828M as airdrop farmers exited before token launch. The protocol features StakeHub, an autonomous validator scoring engine that delegates stake to top-performing validators based on uptime, proposal success, and slashing history.
Markets by Kinetiq launched January 12, 2026, processed $300M in first 10 days as HIP-3 perpetuals reached $793M open interest (+205% monthly growth). On February 5, Hyperliquid set record $6.84M daily revenue driven by metals trading (silver perpetual volume hit $1B daily), with $5.25M going to buyback program (160,750 HYPE repurchased).
HYPE price trades at $31.65 as of February 9, while the February 6 token unlock of 9.92M HYPE ($305M) was absorbed without significant price impact.