A post by @krakenfx on X.
More ways to put your HYPE to work.
@krakenfx on X
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Kraken has expanded the utility of its kHYPE product, allowing users to keep their HYPE tokens in Kraken custody while using them onchain as collateral through a new integration with Nado (@nadoHQ). The kHYPE token, which represents HYPE held in Kraken custody, can now be deployed as collateral on Nado, a protocol built on Hyperliquid. The move deepens the link between centralized exchange custody and onchain finance for Hyperliquid's native HYPE token, letting holders earn additional utility without moving assets off Kraken. It matters because it broadens HYPE's role in DeFi lending and collateral markets while keeping exchange-level custody. What to watch next is whether other protocols accept kHYPE as collateral and whether the integration drives meaningful onchain usage of Kraken-custodied HYPE.
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Named in this story
Kraken, kHYPE, HYPE (HYPE), Nado, Hyperliquid (HYPE)
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