WrappedKhype

kHYPE

Do more with your HYPE

Bring HYPE onto Ink as a 1:1-backed token you can verify onchain and use across DeFi, without selling your position.
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HYPE and kHYPE asset icons

Available on

Pro

kHYPE on Ink

Deploy kHYPE across Ink DeFi without selling your position. Each kHYPE is backed by HYPE held in Kraken custody, verifiable onchain, and redeemable for HYPE. Subject to availability and applicable terms.

Keep your HYPE, gain DeFi

Mint kHYPE by moving HYPE to Ink without selling. You can keep your HYPE exposure while using it across the Ink DeFi ecosystem.
How to get kHYPE
HYPE climbing chart

Deploy across the Ink ecosystem

Supply, borrow, provide liquidity, and trade on Ink. Make your HYPE go further. Use kHYPE across supported Ink dApps.
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Verify the backing

Check reserves onchain, anytime. Every kHYPE is backed 1:1 by HYPE in Kraken custody. Inspect the segregated reserve wallet whenever you want.
HYPE backed 1-to-1 with kHYPE

Redeem on your terms

Unwrap kHYPE back to HYPE. Redeem kHYPE for an equivalent amount of HYPE through Kraken, subject to availability and applicable terms.
HYPE to kHYPE one to one swap

How to get kHYPE

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Hold HYPE - Hold HYPE in your Kraken account. You can buy HYPE on Kraken or send it to your wallet.

Kraken Pro showing portfolio balance and withdrawal button.

Open Withdraw - In Portfolio (on web or mobile), select Withdraw and choose HYPE.

Network selection for HYPE withdrawal

Select Ink (kHYPE) - Choose Ink (kHYPE) from the network dropdown.

Successful HYPE to kHYPE swap

Complete the exchange - Confirm. Your HYPE is exchanged to kHYPE on Ink.

Get HYPE on Kraken Pro

You need HYPE before you can wrap to kHYPE.
Buy HYPE
Kraken Pro spot trading interface with HYPE

Verifiable backing, transparent custody

How kHYPE is backed, how to verify it onchain, and what risks come with wrapped tokens.
1:1 backing
Each kHYPE is backed by an equivalent amount of HYPE held in Kraken custody.
Onchain verification
Backing is designed to be verifiable onchain; inspect the segregated HYPE reserve wallet at any time.
Redeemability
kHYPE is designed to be redeemable for HYPE, subject to availability and applicable terms.
Wrapped-token risks
Adds smart-contract, custody and third-party protocol risk to general crypto risk. Not FDIC-insured. See whitepaper
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kHYPE FAQs

kHYPE is a wrapped HYPE token issued by Kraken. It's fully backed by HYPE held in Kraken's custody and designed for use on Ink. This allows you to use HYPE in DeFi activities and other onchain applications.

For more information on what 'wrapped' crypto assets are, visit our Learn center.

Each kHYPE token is fully backed by an equivalent amount of HYPE held in Kraken's segregated asset reserves. This ensures that for every kHYPE in circulation, there is an equal amount of HYPE securely stored by Kraken, providing transparency and security.

Kraken maintains transparency by allowing users to verify the reserves backing kHYPE. You can check the reserve balances through the links provided by Kraken.

Obtaining kHYPE is different from other tokens, in that it is not available to buy, and instead you need to withdraw HYPE as kHYPE from your Kraken account. To withdraw HYPE as kHYPE:

  1. Hold some HYPE in your Kraken account.
  2. Go to the portfolio page on Kraken (web or mobile).
  3. Select Withdraw and choose HYPE from the Asset dropdown.
  4. Select Ink (kHYPE) from the Network dropdown.
  5. Complete the process, and your HYPE will be exchanged to kHYPE on Ink.
To exchange kHYPE back to HYPE, you will need to deposit kHYPE into your Kraken account. On the deposit page, choose HYPE from the Asset dropdown then select Ink (kHYPE) from the Network dropdown. Send your kHYPE to that address. Once the kHYPE is received, Kraken will automatically exchange it back to the HYPE equivalent in your Kraken account.
kHYPE can be used in various on-chain activities on Ink at launch. Keep an eye on our blog and this article for the latest updates on kHYPE.
No. HYPE held in your Kraken account may be eligible to earn staking rewards. HYPE withdrawn as kHYPE is no longer held in your Kraken account and does not earn those rewards. If you exchange kHYPE back for HYPE, you can re-enrol it in staking.
Yes, kHYPE benefits from Kraken's industry-leading security and over a decade of custodial expertise, with the HYPE backing each kHYPE token securely stored in Kraken's segregated reserves. As a state-chartered bank, Kraken Financial ensures the safety and security that is expected from a regulated financial institution, with digital assets protected by advanced encryption and security protocols at all times.
No, there are currently no trading pairs available with kHYPE.
  • Minimum Deposit:
    • Ink: 0.2 kHYPE

Minimum Withdrawal:

  • Ink: 0.1 kHYPE
  • Processing Time:
    • On Ink: approximately 3 Minutes
  • Required Network Confirmations:
    • Ink: 180 L2 Confirmations
kHYPE can be used on Ink. It's compatible with a range of onchain projects, allowing you to explore opportunities within the onchain ecosystem.
For clarification, kHYPE is not the same as HYPE. kHYPE allows you to participate in the onchain ecosystem by putting the HYPE that is backing the kHYPE to work in ways that aren't possible while it sits in your Kraken account. kHYPE offers the flexibility to do so.

You can exchange any amount of HYPE to an equivalent amount of kHYPE, with a minimum equal to the required minimum for withdrawals and deposits (see "What are the transaction parameters for kHYPE?").

The conversion rate is 1:1, meaning 1 HYPE equals 1 kHYPE. For example, 10 HYPE will be exchanged for 10 kHYPE, and 0.5 HYPE will be exchanged for 0.5 kHYPE.

Yes, the kHYPE smart contract has undergone thorough reviews by Kraken's engineering and security teams. Additionally, it has been subjected to a third-party smart contract security audit from ChainSecurity, to ensure its safety and reliability.
Yes, Kraken is continually exploring opportunities to expand kHYPE's availability. Stay tuned for updates on future network support.
kHYPE is a wrapped token. Wrapped tokens are typically backed by, and represent, other crypto-assets, and are created to facilitate compatibility and interaction across different blockchain protocols. In addition to the general risks associated with crypto assets, wrapped tokens like kHYPE have some unique risks. Learn more about kHYPE risks in the whitepaper.

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Put HYPE to work on Ink

Move HYPE to Ink as kHYPE and deploy it across DeFi.

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Payward Digital Solutions Ltd. is licensed to conduct digital asset business by the Bermuda Monetary Authority. Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Read Kraken Derivatives’ risk disclosure to learn more.

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorised to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here.