Kinetiq TVL Jumps to $2.1B on Airdrop Frenzy
Kinetiq, the liquid staking protocol for Hyperliquid’s HYPE token, has seen its total value locked (TVL) surge from about $458 million in mid-July to more than $2.1 billion today, DefiLlama data shows.
The jump reflects both a 20% rise in HYPE’s token price and a wave of new deposits. HYPE staked on Kinetiq has climbed from under 10 million tokens in July to nearly 40 million now.
Much of the momentum comes from Kinetiq’s points program, launched in mid-July, which rewards users with staking yields plus points toward a potential airdrop. The double incentive has drawn yield-hungry traders in droves, underscoring Hyperliquid’s growing footprint in the DeFi landscape.
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