The HYPE airdrop was crypto's largest wealth generation event representing a $12b liquidity injection. As the largest protocol in the @kinetiq_xyz ecosystem, there's opportunity for sidelinooors to run it back. Upwards of 230% Pendle-powered RoI on YT-kHYPE? Let's explore. 👇

💡 Kine-WHO? Kinetiq is the largest protocol on @HyperliquidX EVM, accounting for 33% of the chain's TVL. Their kHYPE is the chain's leading LST, providing a composable yield-bearing version of HYPE... ...and, of course, they have an ongoing kHYPE program for future 🪂

🔢 The Numbers Running through numbers, your boy estimates between 70-230% RoI based on $500m/750m/1b FDVs. This assumes: 📌 Early December 🪂 📌 ~200% TVL growth 📌 20% 🪂 allocation The 🪂 allocation SOUNDS high until you remember this is THE wealth generation chain 🤫

💻 The Entry I'm basing my entry on the current Implied APY of YT-kHYPE which offers kHYPE exposure at $1.57 a pop. That means 635 kHYPE exposure for JUST $1,000. Underlying APY @ 1.62% means I'd recoup ~12% of principal from yield alone.

🫵 The Points We know that Kinetiq's points started 15 July with 8,000 points distributed per week. Assuming a late-ish TGE of 2 December, we'd be look at at 160k Kinetiq points in total. NOTE: Fixed weekly point distributions = YTs superior since early exposure = 🚀🚀🚀

🧲 The Valuation Point valuation involves projecting Kinetiq's TVL growth and FDV potential - this is where the ESTIMATING comes in. Here I'm assuming: 📌 200% TVL growth, implying ~18% capture of HYPE supply 📌 $500m-$1b TVL 📌 20% 🪂 Possible? I don't see why not.

🪙 My Points Having fixed points per week is a lil' challenging but we can project based on my share of TVL between now til maturity adjusted for inflation. My estimate: $1k nets ~2.55 points. Doesn't sound like a lot but there's really NOT a lot of points being distributed.

All in all, intern does believe YT-kHYPE is an EXCELLENT high delta play for the @HyperliquidX ecosystem. Enough for me to take a punt? Perhaps. Enough for YOU to take a punt? Not my call to make. NFA NLA NMA MDMA Pendiddler