Yield Hunters Drive HyperLiquid Staking Ecosystem Growth Amid Kinetiq’s Airdrop Campaign

Kinetiq, a liquid staking protocol centered on Hyperliquid's HYPE token, has experienced a surge in activity as users flock to capitalize on its airdrop points program. Total value locked (TVL) has skyrocketed from $458 million in mid-July to over $2.1 billion, fueled by both price appreciation and raw deposits. The amount of staked HYPE tokens has quadrupled, reaching nearly 40 million.

Hyperliquid's ascendancy as a DeFi heavyweight is underscored by this growth, with liquidity, trading, and staking demand converging on its ecosystem. Points programs, offering future token allocations, continue to attract yield-seeking investors. Staking HYPE through Kinetiq now delivers dual rewards: standard staking yields and points toward a potential airdrop.

The trend highlights the enduring appeal of incentive-driven participation in DeFi. As one trader noted on X, the opportunity to compound returns proves irresistible for many in the current market climate.