The recent surge in Kinetiq, a liquid staking protocol linked to the Hyperliquid HYPE token, has seen significant inflows as yield hunters rush to capitalize on its airdrop points program. The total value locked (TVL) surged from approximately $458 million in July to over $2.1 billion. This increase is attributed to both the rising price of HYPE and a substantial influx of raw deposits. The amount of HYPE staked has quadrupled from under 10 million tokens to nearly 40 million over the same timeframe. Kinetiq's points program has successfully driven user engagement, with participants earning both traditional staking rewards and accumulating points for future airdrop eligibility. This performance reflects Hyperliquid's growing prominence in the DeFi sector, as liquidity and staking demand increasingly shift towards its ecosystem, illustrating the appeal of double yield opportunities for DeFi investors.

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