Kinetiq Ends kPoints After KNTQ Drops More Than 20%

Kinetiq has ended its 46-week kPoints program with a paid token claim, not a free reward. Eligible holders can buy up to 50 million KNTQ at a fixed $0.26 each for 10 days, with no lockup.

The offer began on October 1, 2026, as KNTQ fell more than 20% from its October 1 high of about $0.448. That drop makes sense to watch closely, but the available evidence does not yet show whether it came from claimers selling or from broader liquidity problems.

The kPoints Reward Now Comes With a Price

Kinetiq distributed 36.8 million kPoints across 46 weeks. Later phases distributed 800,000 points each week, giving farmers an accumulation period that lasted well beyond a typical short rewards campaign.

Under Kinetiq’s claim rules, those points now determine each eligible holder’s maximum allocation, but the tokens are not free. The claim price is $0.26, payable in USDC on HyperEVM.

An account allocated 1,000 KNTQ must spend 260 USDC to acquire the full amount. Holders can claim partially by choosing how much USDC to use, up to their allocation. The tokens carry no lockup, so claimers can sell, hold or transfer them immediately.

That creates a 10-day decision for every eligible holder. The claim is below the market only while KNTQ trades above $0.26. Kinetiq said the token was near $0.40 when it published the claim details, putting the offer about 35% below spot at that point.

If the price falls below $0.26 during the window, using the full allocation would destroy the immediate discount.

Why the Offer Matters to Holders

The 50 million KNTQ allocation equals 5% of the token’s 1 billion maximum supply. If every token was claimed, the sale would raise about $13 million in gross proceeds.

It is also large compared with the reported circulating supply of 280 million to 335 million KNTQ. That supply range has not been independently confirmed, but even at the top of it, the claim block would equal nearly 15% of circulating tokens.

Kinetiq has separately bought back more than 5.39 million KNTQ at an average price of $0.15. Its governance proposal KIP-5 would direct future revenue-funded buybacks to the Hyperliquid Assistance Fund with the goal of permanently reducing supply. The proposal’s current status was not confirmed.

The paid claim follows a different economic design. Earlier buybacks removed supply. The new claim gives points holders access to tokens at a fixed price, creating a possible source of sell pressure after acquisition.

The Price Drop Does Not Yet Prove Token Selling

KNTQ reached about $0.448 on October 1, then traded near $0.33 in the later report used for this story, a decline of more than 20%. There is no live price feed or on-chain liquidity analysis confirming its exact current price, trading volume or order-book depth.

A heavy claim followed by quick selling could add pressure. Kinetiq is allowing the tokens to leave without a lockup, so speed matters as much as the final amount claimed.

Low participation would produce a different result. Any unclaimed KNTQ returns to the Kinetiq Foundation for ecosystem and growth initiatives, and no further claim period has been announced.

There is no confirmed participation rate or on-chain count of how many of the 50 million KNTQ have been claimed and sold. There is also no official explanation for the change in holder sentiment. Some farmers who spent 46 weeks earning points may have expected an allocation without having to pay for it, but Kinetiq has not confirmed that reaction.

So the fall in KNTQ is tied to a real change in supply, but its cause is not settled. The next useful evidence is not another price quote. It is the number of tokens claimed, where they went after the claim, and whether the market can absorb them without deeper liquidity and thinner order books.