Kinetiq

Kinetiq has completed the delisting of all USDH-collateralized markets, marking the end of an era for the platform's original market structure. **Final Markets Delisted:** - USOIL - SMALL2000 - USTECH - US500 This follows the previous delisting of SILVER, GOLD, MU, NVDA, EURUSD, and BOND markets. **What's Next:** The platform will redeploy its Markets HIP-3 DEX with USDC collateral beginning early next week. This transition represents a significant infrastructure shift for the decentralized exchange. The move to USDC collateral suggests Kinetiq is aligning with broader DeFi standards and potentially improving liquidity and user accessibility.

**Kinetiq has launched a new platform called Launch** that removes the traditional barrier of needing 500K+ $HYPE (approximately $30M+) to deploy a HIP-3 perpetual futures exchange on Hyperliquid. **Key features:** - Deployers can now crowdfund the HIP-3 stake requirement instead of sourcing capital independently - Stakers who back deployers earn a permanent share of trading fees from the exchange - Each exchange operates an isolated staking pool built on Kinetiq's liquid staking architecture - The platform currently secures over $1 billion in $HYPE - Future support planned for HIP-4 deployments The platform went live on June 10th, 2026. More details available at [Kinetiq's blog](https://kinetiq.xyz/blog/kip-3-launch-live).

**Borsa (@Borsa_HL) has become the first deployer to utilize Kinetiq's Launch platform**, introducing brsHYPE as a permissionless liquid staking token. **Key Details:** - Users can stake HYPE for brsHYPE to co-own Borsa's HIP-3 deployment - brsHYPE holders earn **12.5% revenue share** plus HYPE staking rewards - Access the launch at [kinetiq.xyz/launch/borsa](https://kinetiq.xyz/launch/borsa) **Context:** Kinetiq's Launch platform enables validators, communities, and DeFi protocols to deploy their own LSTs with complete control over validator selection. The protocol currently holds **92.3% market share** among HYPE LSTs and manages over 1.18x the available HYPE on HyperEVM—representing **33.84% of total staked HYPE**. This deployment demonstrates how Launch allows prospective HIP-3 deployers to crowdsource necessary HYPE while creating new revenue streams through staking rewards and DeFi opportunities. The platform is undergoing rigorous audits and is secured by a $5m bug bounty program.

**Perpsdotfun** has announced an exclusive partnership with **Markets.xyz** to deploy perpetual futures contracts on their platform. **Key developments:** - Perpsdotfun will deploy perps exclusively on Markets.xyz - This enables permissionless listings for perpetual futures on any asset - Once Markets transitions to USDC, Perpsdotfun will list directly on the Markets platform This partnership represents a step toward more open perpetual futures markets, allowing traders to access derivatives on a broader range of assets without traditional gatekeeping.

Markets.xyz has expanded its revenue distribution mechanism through integration with Perps.fun, strengthening the earning structure for kmHYPE and sKNTQ stakers. **Key Updates:** - Anyone can now act as a subdeployer via Perps.fun with perpetuals deployed on Markets.xyz - Both kmHYPE and sKNTQ earn **10% of deployer revenue** each - Revenue is programmatically used to purchase HYPE and KNTQ on HyperCore - Purchased tokens are automatically distributed to stakers **Background:** kmHYPE launched in December 2024 as the first user-owned capital markets token onchain, built on the same architecture as kHYPE (Kinetiq's LST with billions in TVL). KNTQ holders could stake kHYPE 1:1 for kmHYPE across three tiered cohorts based on holder rank. The Perps.fun integration creates a more robust and decentralized revenue stream for both staking tokens.

Markets is rolling out perpetual futures trading accessible directly from mobile devices. **Key Details:** - Platform enables perpetual futures trading on smartphones - Builds on Markets' existing prediction markets infrastructure - Aims to reduce friction in futures trading access This launch represents Markets' expansion from prediction markets into traditional derivatives trading, maintaining their focus on mobile-first accessibility. The move brings institutional-grade perpetual futures to retail traders through a simplified mobile interface. Perpetual futures allow traders to speculate on asset prices without expiration dates, a popular instrument in crypto markets.

**Market Behavior During Exchange Downtime** Kinetiq, an unconstrained market, demonstrated significant price volatility while the Chicago Mercantile Exchange (CME) was closed, peaking at **+18.01%** before the CME reopened at +7.22%. **Key Observations:** - The unconstrained market overshot the actual move by approximately **2.5x** - After CME reopening, Kinetiq self-corrected to within 0.28% of the CME price - The incident highlights how markets without constraints can experience amplified price movements - This behavior was observed on the Hyperliquid platform, which is heavily coded by [@markets_xyz](https://twitter.com/markets_xyz) **Market Implications:** The event demonstrates the difference between constrained and unconstrained trading environments, showing how price discovery can vary significantly when traditional market mechanisms are temporarily unavailable.

**$BMNR** has been listed on **markets.xyz** with **10x leverage** trading capabilities. **Key Details:** - Trading activity qualifies for **kPoints Boosts** rewards - Platform described as "heavily Markets coded" - Follows recent listing of $RTX with similar terms on March 10 **Recent Context:** This listing continues markets.xyz's expansion, following $PLTR and $MU additions in late February with 12x and 10x leverage respectively. All recent listings include kPoints Boosts eligibility. Traders can now access leveraged positions on $BMNR while earning platform rewards through the kPoints system.

Kinetiq has listed two new assets on its Markets platform: **SMALL2000** and **USTECH**. **Key Details:** - Both assets are now tradeable on [@markets_xyz](https://markets.xyz) - Trading activity generates real-yield distributed to token holders - Yield flows to both **kmHYPE** and **sKNTQ** holders through KIP-1 - Markets platform emphasizes user ownership model The listings expand trading options while maintaining the platform's yield-sharing mechanism that rewards community participants.

**Markets.xyz** introduces **kmHYPE**, allowing users to co-own onchain capital markets for the first time. **Key Details:** - **Launch date:** December 8th at 13:00 UTC - **Mechanism:** KNTQ holders can stake kHYPE 1:1 for kmHYPE - **Built on proven architecture** that has secured billions in TVL **Three Cohorts Available:** - **Cohort 1:** KNTQ 1-100 holders → 555,555 kmHYPE (max 28,888 per wallet) - **Cohort 2:** KNTQ 101-1,000 holders → 222,222 kmHYPE (max 2,888 per wallet) - **Cohort 3:** KNTQ 1,000+ holders → 111,111 kmHYPE (max 888 per wallet) **Important Notes:** - Cohorts determined by historic and time-weighted KNTQ holdings - All allocations are **first-come, first-served** - Allocation caps ensure broad distribution - Not every wallet guaranteed maximum allocation This marks the beginning of user-owned global markets onchain through [Markets.xyz](https://x.com/markets_xyz/status/1995845349861183625).