Kinetiq, a liquid staking protocol on Hyperliquid, has closed its kPoints rewards program after distributing 36.8 million points over 46 weeks. Points holders can now claim the right to purchase 50 million KNTQ tokens at a fixed price of $0.26 each during a 10-day window. The allocation equals 5% of the token’s maximum supply of 1 billion, with potential gross proceeds of $13 million if fully claimed. KNTQ hit an all-time high of approximately $0.448 on October 1, 2026, and has since fallen more than 20% to around $0.33. KIP-5, a governance proposal, routes revenue-funded KNTQ buybacks to the Hyperliquid Assistance Fund to permanently reduce supply, echoing Hyperliquid’s own token buyback model.
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