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TradFi-focused perp DEX on Hyperliquid (HIP-3). Trade equities, indices, forex, and commodities 24/7 with on-chain settlement.
$KNTQ
Launched (Nov 27, 2025)
55%
KNTQ token live since Nov 2025 (for the Kinetiq liquid staking protocol). Markets DEX launched Jan 2026 as a perp trading extension. Season 2 kPoints farming ongoing — earn by staking kHYPE, trading on Markets, and referrals. FDV ~$99M.
Weekly — 800K kPoints distributed (snapshots Tuesday, distribution Thursday)
Kinetiq protocol (liquid staking) launched Jul 2025. KNTQ TGE: Nov 27, 2025 (1B supply). Markets DEX (perps) launched Jan 12, 2026. $1.75M seed (Oct 2025).
Maven 11, Pier Two, Chorus One, IMC Trading, Flowdesk, SIG DTI
Kinetiq Markets is a perpetual futures DEX built on Hyperliquid L1 using the HIP-3 protocol, specializing in traditional finance assets. Launched in January 2026, it became the 2nd largest HIP-3 DEX by volume on its first day and reached $300M in trading volume within its first 10 days.
Unlike most perp DEXes that focus on crypto pairs, Kinetiq Markets offers trading in equities (TSLA, BABA), stock indices (S&P 500, Nasdaq, Russell 2000), forex (EUR/USD), commodities (Gold, Silver, Oil), and bonds (US Treasury) — all available 24/7/365 with on-chain settlement. Leverage ranges from 10x to 50x depending on the asset class, with EUR/USD offering the highest leverage.
The platform uses USDH (Hyperliquid's native stablecoin) as its sole collateral and quote asset. Trading fees are 0.03% maker and 0.09% taker at the base tier, with reduced fees available for certain new listings. Funding rates follow Hyperliquid's hourly settlement mechanism.
Kinetiq originated as a liquid staking protocol (kHYPE) on Hyperliquid and expanded into perpetual trading with the Markets DEX. The kmHYPE exchange LST lets users co-own trading fees and liquidity. The protocol has been audited by four independent firms: Spearbit, Zenith, Pashov Audit Group, and Code4rena.
The KNTQ governance token launched in November 2025 with a $1.75M seed round from investors including Maven 11, IMC Trading, Flowdesk, and SIG DTI (Susquehanna). Community allocation totals 55% (25% genesis airdrop + 30% protocol growth rewards). Weekly kPoints distributions incentivize staking and trading activity.
Kinetiq Markets appeals to traders seeking on-chain access to TradFi assets without centralized intermediaries, combining Hyperliquid's execution speed with a unique asset selection unavailable on most perp DEXes.
Kinetiq Markets is built on top of Hyperliquid L1 as a HIP-3 exchange, but targets a completely different market. Hyperliquid focuses on crypto perps, while Kinetiq specializes in TradFi assets like equities, indices, forex, and commodities.
Both Kinetiq Markets and Gains Network offer TradFi perpetuals, but they differ in chain, asset coverage, and execution model. Gains Network offers far more markets across three EVM chains, while Kinetiq focuses on curated TradFi pairs on Hyperliquid.
Kinetiq Markets and edgeX target different market segments. Kinetiq focuses on TradFi assets (equities, indices, forex) on Hyperliquid, while edgeX offers 101 crypto perpetual markets with an off-chain matching engine.
Both Hotstuff and Kinetiq Markets offer TradFi perpetuals alongside crypto, but on different infrastructure — Hotstuff runs its own L1 while Kinetiq is built on Hyperliquid as a HIP-3 exchange.
