Kinetiq Airdrop Attracts HYPE Stakers on HyperLiquid
HyperLiquid's Kinetiq Sees Massive Inflows Amid Airdrop Campaign
Kinetiq, a liquid staking protocol built around Hyperliquid’s HYPE token, is experiencing a surge in popularity. Users are depositing assets to participate in the protocol's airdrop points campaign, significantly increasing its total value locked (TVL).
TVL on Kinetiq has jumped from approximately $458 million in mid-July to over $2.1 billion as of today, according to DefiLlama.
The increase is partly attributed to a 20% rise in the price of HYPE during the same period. However, a more substantial driver is the increase in deposits. The amount of HYPE staked has risen from under 10 million tokens in July to nearly 40 million now. Kinetiq’s points program, launched in mid-July, is clearly fueling activity within its ecosystem.
This activity highlights Hyperliquid's growing importance in the DeFi space as liquidity, trading activity, and staking opportunities increasingly converge on its ecosystem.
Points programs, which reward early participants with future token allocations, continue to attract yield-focused crypto investors. By staking HYPE through Kinetiq, users can earn standard staking rewards and accumulate points towards a potential Kinetiq token airdrop. This 'double yield' opportunity has resonated with many DeFi traders.
As new projects launch and existing protocols expand, ensuring the security of staked assets becomes paramount. Platforms like Codeum provide comprehensive smart contract auditing and security consulting services that can help ensure the safety of projects in the Hyperliquid ecosystem.
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