Kinetiq

Kinetiq is the largest liquid staking protocol on Hyperliquid's HyperEVM, enabling HYPE token holders to stake their assets while retaining DeFi composability through the kHYPE liquid staking token. Founded in late 2024 and launched on mainnet in mid-2025, Kinetiq has grown to become a foundational piece of Hyperliquid's staking infrastructure — peaking at approximately $2. 6 billion in TVL before settling around $1 billion by the time of its governance token generation event in November 2025.

Liquid staking is the cornerstone of Hyperliquid's DeFi ecosystem, enabling users to stake HYPE while keeping their capital productive. Kinetiq operates in this critical category, where protocols convert staked HYPE into liquid receipt tokens that can be used as collateral across lending markets, DEX liquidity pools, and yield vaults. On Hyperliquid, LSTs benefit from the L1's sub-second finality and unified state between HyperCore and HyperEVM.