Minos

Ledger / $kHYPE

Kinetiq Staked HYPE

$kHYPEon HyperEVM0xfd73…296d

Large live HYPE liquid staking token; contracts and trading are real, but yield and lending are unshown.

483

Lethe

A little of it works.

kHYPE claims to be a liquid staking token for HYPE with instant unstaking, validator delegation, DeFi use and an extra-yield vault. The token, its staking and instant-unstake contracts (holding about 246k HYPE) and active trading across 18 pools check out. Rising value, reward accrual, validator selection, lending use, the vkHYPE vault and the audits are not independently shown. The biggest risk: the token is an upgradeable proxy whose code can be swapped by admin 0x9c1e…304c, and its code has a mint function.

483
Scored 483 of 999: Lethe.

8 claims judged

  1. Stake HYPE to receive kHYPE, a liquid staking token that earns staking rewards while staying liquid

    Core claim: Stake HYPE for kHYPE to earn rewards while staying liquid.

    kHYPE exists with 9.64M supply, trades in 18 pools, and the cited StakingManager holds 155,437 HYPE, so staking and liquidity are live. No reward rate or yield data was found to show rewards.

    The token on HyperEVMDexScreenerCited address 0x393d…2109CoinGeckokinetiq.xyz/stake-hype
    Partly

  2. kHYPE's value in HYPE rises as staking rewards accrue, so no claiming is needed

    Feature: kHYPE’s value in HYPE rises as rewards accrue, and you can unstake instantly.

    The StakingAccountant contract exists, but no exchange-rate history or kHYPE/HYPE ratio in the evidence shows the value rising over time.

    Cited address 0x9209…dc7akinetiq.xyz/docs
    Unproven

  3. Unstake kHYPE back to HYPE instantly

    Feature: and you can unstake instantly.

    The cited InstantUnstakePool is a live contract on HyperEVM holding 91,098 HYPE, liquidity that can pay out instant unstakes.

    Cited address 0x665b…2123kinetiq.xyz/docs/contracts-and-audits
    Verified

  4. Staked HYPE is automatically delegated to top-performing Hyperliquid validators chosen by StakeHub

    Feature: all staked HYPE is automatically delegated to the top-performing Hyperliquid validators

    A ValidatorManager contract exists at the cited address, but nothing shows which validators get the stake or how they are chosen.

    Cited address 0x4b79…508fkinetiq.xyz/docs
    Partly

  5. kHYPE can be used across DeFi, for example as collateral for lending and borrowing or in liquidity pools

    Feature: Use as collateral for lending/borrowing

    kHYPE sits in 18 DEX pools with $6.6M liquidity, so liquidity-pool use is real. Its use as lending collateral is not shown by any tracker or contract.

    DexScreenerkinetiq.xyz/stake-hype
    Partly

  6. Kinetiq Earn lets holders deposit kHYPE for vkHYPE to earn extra yield across curated DeFi strategies

    Feature: Deposit kHYPE for vkHYPE to earn additional rewards across curated DeFi strategies.

    The Earn page shows a vkHYPE deposit box, but its values are zero placeholders. The vkHYPE vault address was listed but not checked on-chain.

    kinetiq.xyz/stake-hypekinetiq.xyz/docs/contracts-and-audits
    Unproven

  7. The kHYPE protocol contracts have been security audited by several firms

    Detail: Security audits Spearbit, Pashov Audit Group, Zenith, Code4rena, and more

    The docs list audit firms with PDF links, but no audit report itself was examined in the evidence.

    kinetiq.xyz/docs/contracts-and-audits
    Unproven

  8. The kHYPE token and its protocol contracts are deployed on HyperEVM at published addresses

    Detail: kHYPE token 0xfD739d4e423301CE9385c1fb8850539D657C296D

    The kHYPE address matches the token checked on-chain, and all six other cited addresses checked are live contracts on HyperEVM.

    The token on HyperEVMCited address 0x393d…2109Cited address 0x9209…dc7aCited address 0x665b…2123Cited address 0x4b79…508fCited address 0x1928…049bCited address 0x26fe…44c9
    Verified

What would raise the verdict

  • Publish on-chain kHYPE/HYPE exchange-rate history showing rewards accruing
  • Get kHYPE TVL and yield tracked on DefiLlama, including lending markets
  • Show who controls the proxy admin and mint role, e.g. a timelock or multisig

Evidence read

Everything the marks rest on, as Minos found it on 10 Nov 2026, 22:01 UTC.