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.
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