MSc. Exercise Physiologist + Strength Coach. Gamify fitness, tokenize business, decentralize finance
Joined October 2021
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lowhash.hl retweeted
1/ Hyperliquid generated $716M in revenue over the last 12 months and is growing rapidly.
One protocol runs the largest liquid-staking token on the chain, runs a perp/spot exchange on top of it, and plans to launch Hyperliquid's first L2.
A thread on $KNTQ 🧵
lowhash.hl retweeted
Great analysis by @CamKhosravi on kinetiq:native here, very in line with my own price model
At $0.30, kinetiq:native is either a slightly overpriced LST/ $HYPE beta play or a massively underpriced $HYPE L2 ecosystem play with half a dozen lines of revenue.
Risking ~50% downside for 5x+ upside, can't really ask for a better asymmetric bet than that.
12/ So what's it worth?
Kinetiq already earns real money and spends it buying its own token, and potentially the largest source hasn’t launched yet.
If Elysium lands anywhere near Base, the race between the buyback and the unlock stops being close. Bullish Elysium and $KNTQ.
lowhash.hl retweeted
kntq is prioritized in every part of the stack:
> 100% kntq trading fees burned
> 70% rev
> lion’s share launch + markets rev
> struck deal with validators to funnel more value to kntq from delegated stake
> elysium + projs like ascend
most other teams with such a strong moat on stake would cash out upfront, stop innovating, and watch the chart suppressed eternally, like every ‘good project + bad tokenomics’ situation we’ve seen in defi. Only now are some of those projects becoming investable.
KNTQ traded down as low as ~4c. If you only used your cash to farm kntq for free tokens while neglecting to buy any at depressed valuations, there may be some skill issue involved
lowhash.hl retweeted
A little over 1 day into this, it’s vital to set the record straight:
The communication about this claim could’ve been way better and for that, I take full responsibility.
The allocation is now >41% claimed in a single day (fully unlocked, no vest), this tells us that even despite the thousands of pundits today, participants have been extremely receptive to the long term oriented mechanics of this program.
This was never publicly disclosed, as there’s been no point to it for over a year, but Kinetiq received a $20m term sheet at $250m ($0.25) last year prior to KNTQ genesis.
That sounds great on paper, until you realize that this would’ve essentially crushed the public economic value of the project, by creating ridiculously predatory vesting schedules that would’ve made Kinetiq (KNTQ) un-investable for years to come, which is the bane of the existence of essentially every other protocol in our singular category at the time.
This would’ve been an unacceptable outcome to us, hence swiftly declined. Proof? Ask @wassielawyer who was kind enough to personally review each term sheet.
Instead, we chose to follow through on the precedent Hyperliquid set by distributing 25% of the protocol after what was likely the shortest points program ever.
You may feel that your trust in Kinetiq and our team was misplaced, but we’ve followed through on everything we said we would, and will continue to do so - whether you’re here or not.
Regardless of how you felt about today, I (we) appreciate all of your commentary. The good, the bad, the ugly.
The mission remains unchanged, and the vision ever more clear.
The final kPoints have now been distributed.
Your kPoints now allow you to claim KNTQ.
kinetiq.xyz/kntq
lowhash.hl retweeted
Important to note:
> @Kinetiq_xyz raised <$2m, fractions of a fraction of competitors in staking, trading, and other general purpose ecosystems - with orders of magnitude greater results
> if we did this with barely any capital, not hard to imagine what we will do with a bit more capital
> my singular job is to make @Kinetiq_xyz // @Markets_xyz // @Enter_Elysium as huge as computationally possible
Those who can, do
Those who can’t, FUD
km
Today reminds me a lot of the response to Hyperliquid’s introduction of “L1 points” just before summer of ‘24. Hyperliquid was absolutely torched that day, by many of the biggest names in the industry. (Enjoy the comment section, a nice stroll down memory lane)
Having been a user since May of 2023 and seeing they had just announced HyperBFT + HyperEVM, I knew what this meant: Hyperliquid may have started as a perpetuals DEX, but was being setup to cater for something an order of magnitude greater; an entire ecosystem and beyond.
This may upset you, but @Kinetiq_xyz is no longer purely a liquid staking protocol. It is equally set up to cater for an exponentially greater outcome.
We are at the bleeding edge of exporting Hyperliquid’s greatest product via @Markets_xyz to a global userbase who may have never heard of a blockchain, and now at the precipice of ushering in a new era of Hyperliquid’s general purpose capabilities via @Enter_Elysium to users and builders who are about to see what happens when you build an extremely performant general purpose layer on top of the most liquid, utilized financial application onchain.
KNTQ is at the epicenter of every single Kinetiq product from staking, to Markets to Elysium, and always will be. This is further cemented by publicly ensuring any and all value that accrues from the entirety of Kinetiq’s product suite is directed solely to it.
Back to work
lowhash.hl retweeted
KNTQ is down 60% on news that instead of an inflationary airdrop diluting existing holders, airdrop recipients receive only an option to buy at $0.26 (a 7% discount to current prices).
How is this not bullish news? Added some KNTQ at these prices.
lowhash.hl retweeted
km
Today reminds me a lot of the response to Hyperliquid’s introduction of “L1 points” just before summer of ‘24. Hyperliquid was absolutely torched that day, by many of the biggest names in the industry. (Enjoy the comment section, a nice stroll down memory lane)
Having been a user since May of 2023 and seeing they had just announced HyperBFT + HyperEVM, I knew what this meant: Hyperliquid may have started as a perpetuals DEX, but was being setup to cater for something an order of magnitude greater; an entire ecosystem and beyond.
This may upset you, but @Kinetiq_xyz is no longer purely a liquid staking protocol. It is equally set up to cater for an exponentially greater outcome.
We are at the bleeding edge of exporting Hyperliquid’s greatest product via @Markets_xyz to a global userbase who may have never heard of a blockchain, and now at the precipice of ushering in a new era of Hyperliquid’s general purpose capabilities via @Enter_Elysium to users and builders who are about to see what happens when you build an extremely performant general purpose layer on top of the most liquid, utilized financial application onchain.
KNTQ is at the epicenter of every single Kinetiq product from staking, to Markets to Elysium, and always will be. This is further cemented by publicly ensuring any and all value that accrues from the entirety of Kinetiq’s product suite is directed solely to it.
Back to work
When Hyperliquid launched, the goal was to become the best perps DEX. Today, the vision has expanded to that of an entire financial ecosystem, starting with native spot trading and deployment through HIP-1 and HIP-2.
The L1 season of points starts today to reflect this growing ambition and welcome new use cases. 700,000 points will be distributed weekly for 4 months. The first snapshot will be for May 29-June 4.
Points criteria will be updated on a recurring basis. Distributions will be based on weekly activity ending Wednesdays at 00:00 UTC and take place on Fridays. There will be 1:5 affiliate points matching. Affiliates will need to reapply.
2,000,000 points per week will be distributed for activity from May 1-28. This bonus multiplier is to reward organic usage.
I’ve been a farmer & buyer of $KNTQ since day 1 of the protocol and TGE.
The most angry people are those who lost money doing meaningless volume in Markets and remain unallocated because they expected a free bag.
@Kinetiq_xyz won’t die just because you didn’t get free money.
I'm not the right person to ask on the kinetiq:native airdrop here tbh because I'm clearly biased
All the kPoints I received were by just staking kinetiq:native and holding a little kHYPE, I basically did nothing special or intentional outside of the usual to "farm" them.
So from my perspective as a kinetiq:native buyer here, I'm like cool, buying some more at a discount to spot for really not doing much.
And for reference, if I really wanted to, I still could have just went and exercised at $0.26 and sold higher here and locked in a free $10,000 or so profit, which wouldn't be bad in airdrop world.
This is a very common way of doing things at big tech companies with stock options etc. Pretty new concept for crypto though so better education/communication or expectation setting would have helped a ton.
If you're an existing holder/investor and didn't want to get a massive supply increase that historically gets dumped, you're probably pretty content here.
If you're a guy who was intentionally trying to farm @Markets_xyz volume to get his allocation and didn't buy any, then you're justifiably pretty upset and disappointed.
I will say there though that intentionally trying to "farm" airdrops still comes with risks, you can't just expect to provide less value to the token than the equity you'll receive back every time. You have a cost of farming and hope that you read the tea leaves well and think the team will reward that cost more. Same thing happens all the time with Pendle YT speculators.
There's guys out there still farming a future TradeXYZ airdrop and paying real fees for something that, imo, will never come
End of the day, I'm buying more because it's a chance to buy lower, if you are disappointed or feel betrayed then I can sympathize there too.
I never really factored the airdrop into my bull or bear case. Supply comes on market, price finds its level, fundamentals prevail.
Honestly, as I said in my $HYPE S3 airdrop post, I kinda hate the expectations placed on tokens for these airdrops past the first round these days. Like these are real cash flow generating companies now, not memecoins. They need to be run like companies, and there's a fine line between onboarding new users and dilluting existings ones
I was buying north of $0.40 yesterday after the Ascend news, maybe I'll get the chance to buy south of $0.30 today. It'll all be good entries for where I think price is headed.
Not great for farmers, but a lot of those farmers would have dumped on you anyway.
Decide if you actually believe in what @Kinetiq_xyz is building.
If you do, the sale price won’t matter in a few months.
A total of 36,800,000 kPoints were distributed through this program. kPoints holders who participated have been allocated 50,000,000 KNTQ.
kPoints holders may acquire KNTQ at a fixed price of $0.26/KNTQ for a 10 day claim period.
Any unclaimed KNTQ at the end of the 10 day claim period will be returned to the Kinetiq Foundation [@KinetiqFND], allocated towards ecosystem and growth.
