Documentation

kHYPE Yield

kHYPE does not pay rewards out. Each kHYPE is worth a growing amount of HYPE, set by Kinetiq’s StakingAccountant on HyperEVM. The kHYPE adapter keeps every deposited kHYPE (it never lends it out) and records your principal in HYPE. Your yield is the kHYPE you hold above what is needed to cover that principal at the current rate.

The rate relay

kHYPE’s rate lives on HyperEVM, but Overflow runs on Elysium. A bridged token does not carry the rate with it, so Overflow relays it trustlessly:

1. KHypeRateSender on HyperEVM reads kHYPEToHYPE(1e18) from the accountant itself and sends it, with HyperEVM’s timestamp, as a message through Elysium’s canonical bridge.
2. KHypeRateOracle on Elysium only accepts the message when the bridge delivers it from that sender. It rejects out-of-order and far-future timestamps and implausible rates.

Anyone can pay to trigger a relay, but nobody, including the Overflow admin, can write a rate by hand. If relays stop, the rate goes stale: new spending stops and deposits and withdrawals wait, while exits keep working.

Observed APR

Anyone can call the adapter’s checkpoint(). It compares the relayed rate with the previous observation (at least 1 day and at most 30 days apart, on HyperEVM time) and annualises the growth, capped at 10%. At launch the adapter measured the rate’s real growth over the previous days (from 1.027540 HYPE per kHYPE) and applied 75% of it; the first checkpoint replaces that value.

Routing

A kHYPE deposit moves through these contracts. Select a step to see its role and address; every address comes from the live Overflow configuration.

Position Intelligence

With a wallet connected, the kHYPE page summarises your position from onchain reads: principal (the kHYPE that covers your HYPE principal today), current value (the kHYPE you hold), accrued yield, the observed APR, your spending power and the age of the last checkpoint. It also projects yield over 30 days, 90 days and one year as simple interest: amount × APR × days ÷ 365.

Position Simulator

The simulator works without a wallet. Enter any amount (or pick 10, 100 or 1,000 kHYPE) to see the same projections, plus the spending power a position of that size would have under the current protocol state. While spending is not open, the simulator says why instead of showing a number.

Projections are estimates, not a forecast or a promise: staking rewards change, and principal can lose value if kHYPE’s rate falls.