Algorithmic / under-collateralized stablecoin
Kinetiq's assessment for RD-F-069 — scored not_applicable on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
kHYPE is not a stablecoin (algorithmic or otherwise). It is a yield-bearing LST token backed by staked HYPE. The StakingAccountant formula (totalHYPE/totalKHYPESupply) ensures the token is fully backed at all times. PD-024 stablecoin classification not applicable.
Sources #
- GitHubCode4rena 2025-04-kinetiq READMECode4rena README — '1 kHYPE === 1 HYPE' as primary invariant at initialization; appreciates with rewards. Not a stablecoin.retrieved 2026-05-17
Methodology #
Classify whether the protocol is an algorithmic or under-collateralized stablecoin design per curator classification.
See the full factor methodology and distribution across all protocols →
rubric_version v1.7.0 protocol kinetiq factor RD-F-069 score not_applicable collected_at 2026-05-17 15:29:57