What is kHYPE?
kHYPE is a fully backed, cross-network-compatible ERC-20 token, backed 1:1 by an equivalent amount of HYPE and held securely in Kraken’s custody. Clients can verify this for themselves at any time by inspecting our reserves onchain. kHYPE works with decentralized applications (dApps) on Ink.
Why kHYPE?
kHYPE is a wrapped token: it’s backed by, and represents, HYPE, letting holders utilize the value of the underlying across different blockchain networks. Wrapped tokens carry some added risk on top of the general risks of holding cryptocurrencies – learn more about the risk disclosures here.
With kHYPE, you get a wrapped token backed by Kraken’s 15+ years of expertise and infrastructure. Each kHYPE token stays backed 1:1 by HYPE, held securely and verifiable onchain.
How kHYPE is secured
Kraken holds full reserves for every kHYPE token minted and provides clients with a way to verify their holdings directly. Check the reserves yourself:
Benefits of kHYPE
kHYPE transforms HYPE’s utility by allowing it to seamlessly integrate into Ink, with plans to extend compatibility to additional networks.
Developers can build with kHYPE in their dApps. Holders can use it in DeFi in the same way they’d use HYPE elsewhere. kHYPE is available at launch on Ink.
Geographic restrictions apply. These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available.
Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
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