Kinetiq's governance token (KNTQ) has gone live on Hyperliquid, paired natively with USDH. The launch features seamless transfer capabilities between HyperCore and HyperEVM. On-chain observers initially noted a fresh wallet purchasing approximately $333,000 worth of KNTQ shortly after trading began. Major entities like 'SmartestMoney' received significant allocations, holding up to 3.3% of the total supply, while Hyperliquid activated Auto-Deleveraging amidst launch volatility to ensure platform stability. [Update 1] The Kinetiq (KNTQ) airdrop has been specifically distributed to holders of Hypurr NFTs, generating significant discussion among traders. Reports indicate that the airdrop yielded substantial value, with some users selling their allocation for approximately 300,000 JPY. However, some NFT holders missed the distribution due to failing to sign the necessary transactions in time. The event has been characterized by some traders as a typical hype cycle, with price action drawing immediate attention.