Kinetiq wraps kPoints program as KNTQ slides more than 20%

Kinetiq has closed the book on its kPoints rewards program. Points holders now get first dibs on 50 million KNTQ tokens at a fixed price of $0.26 each. The timing is awkward. KNTQ hit an all-time high of approximately $0.448 on October 1, 2026, and has since given back more than 20% of that peak, trading close to $0.33. How the kPoints conversion works Kinetiq is a liquid staking protocol built on Hyperliquid. Over 46 weeks, it handed out a total of 36.8 million kPoints, with later phases distributing 800,000 points per week. Instead of a free distribution, participants can claim the right to buy KNTQ at $0.26 per token. The claim window runs for 10 days and opened on October 1, 2026. The allocation totals 50 million KNTQ. That equals 5% of the token’s maximum supply of 1 billion, and the sale could potentially bring in $13 million in gross proceeds if fully claimed. There is no lockup and no vesting. Tokens bought through the claim are usable immediately. Anything left unclaimed when the window shuts goes back to the Kinetiq Foundation. The foundation plans to put those tokens toward ecosystem development. A discount that shrinks as the price falls When Kinetiq published its blog ...