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We scored multiple projects this week. Here are a few you should know about:
Kinetiq
Unit
Heaven
Football.Fun
Please remember that some of these projects still need our code review process. Still, we want to highlight them here because they initially caught our attention through our fundamental analysis process.
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Now, let’s get back to the hidden gems.
1. Kinetiq
Sector - DeFi
Status - Active
Kinetiq is a liquid staking protocol natively built on the Hyperliquid blockchain, designed to enhance staking efficiency and liquidity within the ecosystem.
It addresses the challenges of traditional staking, such as illiquidity and the manual selection of validators, which can lead to suboptimal yields and increased risks. By allowing users to stake the native Hyperliquid token (HYPE) and receive a liquid staked version (kHYPE) in return, Kinetiq enables participants to earn rewards while maintaining capital efficiency for DeFi activities like lending, borrowing, or providing liquidity. The protocol leverages Hyperliquid's infrastructure for seamless integration, including direct validator communication and batch operations.
Key to its operation is StakeHub, an autonomous system that algorithmically scores, monitors, and delegates stakes to top-performing validators to optimize returns and diversify risks. The project emphasizes security through multiple audits from firms like Spearbit, Pashov Audit Group, and OpenZeppelin, and it contributes to Hyperliquid's network decentralization.
1.1. Features
StakeHub Autonomous Management: Algorithmically selects and rebalances delegations across validators for optimal yields and risk mitigation, eliminating manual oversight.
Liquid Staking with kHYPE: Users stake HYPE to receive kHYPE, which accrues rewards automatically via an improving exchange rate and remains usable in DeFi (e.g., as collateral or in AMM pools).
Native Hyperliquid Integration: Leverages the chain's infrastructure for efficient operations, state synchronization, and security, including emergency response systems and multi-sig controls.
Capital Efficiency in DeFi: Enables portfolio margining, spot-futures basis trades, and real-time settlements, unlocking opportunities like options hedging and treasury management for protocols.
Security-Focused Architecture: Features role-based access, formal verification, and four independent audits, ensuring robust protection against exploits.
Exchange Launch Support: Through Kinetiq Launch, allows crowdsourcing of 1M HYPE (~$40-50M) for new exchanges, democratizing access and sharing trading fees with stakers.
Passive Reward Compounding: No need for manual claiming or rebasing; rewards compound seamlessly, supporting long-term holding and network security.
1.2. Token
Kinetiq's kPoints program is a weekly rewards initiative where users can earn kPoints by participating in platform activities. A snapshot is taken each Tuesday to determine eligible participants and their contributions, followed by the distribution of 800,000 kPoints every Thursday.
To earn kPoints, users typically need to actively engage with Kinetiq's features such as staking, trading, or providing liquidity; eligibility and calculation details are based on platform-specific actions recorded in the weekly snapshot.
2. Unit
Sector - Bridge/RWA
Status - Active
Unit, also known as Hyperunit, is an asset tokenization and bridging layer built exclusively for the Hyperliquid blockchain. It enables seamless deposits and withdrawals of major cryptocurrencies like BTC, ETH, and SOL between their native chains and Hyperliquid.
It solves the problem of fragmented asset flows in DeFi by providing a decentralized, lock-and-mint bridging system that eliminates the need for wrapped assets or third-party intermediaries, reducing risks like centralization and high fees. This facilitates unified trading experiences, deeper liquidity, and enhanced capital efficiency on Hyperliquid's spot and derivatives markets.
The protocol is developed by an external team independent of the Hyperliquid Foundation. It emphasizes first-principles design for Hyperliquid's infrastructure.
Unit processed over $1B in volume shortly after launch, capturing 50% of spot fees. It uses these fees to buy back HYPE via TWAPs, aligning incentives with the broader ecosystem. The unit supports advanced use cases like portfolio margining and on-chain treasury management, positioning itself as a backbone for Hyperliquid's growth toward $1T monthly volumes.
2.1. Features
Seamless Cross-Chain Deposits/Withdrawals: Users deposit native assets (e.g., BTC from personal wallets) directly to Hyperliquid, with withdrawals back to preferred addresses, up to 90% cheaper than CEX alternatives.
Spot Orderbook Integration: Enables trading, transferring, and utilizing tokenized assets on Hyperliquid's spot markets, with deep liquidity rivaling major exchanges.
Capital Efficiency Enhancements: Supports portfolio margin with cross-margining, on-chain spot-futures basis trades, and real-time options settlement with delta hedging.
DeFi Protocol Support: Facilitates efficient CLOB settlements for asset liquidations in protocols and verifiable treasury management for DAOs.
Anti-Centralization Design: Uses MPC and guardian security to avoid single points of failure, with some centralization in the guardian set for initial stability.
Fee Accrual and Redistribution: Captures spot fees and redirects them via TWAP buys of HYPE, creating a sustainable economic loop without a native token.
Ecosystem Expansions: Integrates with partners like Phantom for one-click funding, Ethena for borrowing against Unit assets, and Morpho for on-chain lending.
2.2. Token
Currently, there is no dedicated Unit points program or explicit rewards for using Hyperunit alone. However, users interacting with Hyperunit, such as by depositing and trading major assets on Hyperliquid, may earn points via the main Hyperliquid ecosystem points program, which rewards overall platform usage, activity, and liquidity provision.
These points are tied to the Hyperliquid platform rather than directly to Hyperunit, and activities like cross-chain deposits facilitated by Unit may contribute indirectly to users' point accrual on Hyperliquid.
3. Heaven
Sector - Launchpad
Status - Active
Heaven is a decentralized launchpad and automated market maker (AMM) on Solana, designed as the "final" platform for tokenizing and launching ideas ranging from memes to companies.
It tackles issues in the memecoin and token launch economy, such as unfair launches, MEV exploitation, and unsustainable tokenomics, by creating a fair, community-owned ecosystem that prioritizes long-term value over short-term hype.
The solution features a unique "God Flywheel" where 100% of protocol revenues fund buybacks and burns of its native token, $LIGHT, fostering deflationary pressure and aligning incentives.
Built on Solana for low costs and high speed, Heaven categorizes launches into tiers (e.g., basic memes vs. premium projects) to reward quality and includes anti-MEV mechanisms like a sniper tax.
The project raised $27.3M in its ICO within 11 hours from ~9,000 holders, reflecting strong demand. Heaven aims to blur the line between memes and serious ventures, enabling easy on-chain idea monetization while expanding into initiatives like the Starseed fund for ecosystem grants.
3.1. Features
God Flywheel Mechanism: 100% of fees (from trading and launches) fund TWAP buybacks and burns of $LIGHT, creating a deflationary loop that drives scarcity and value.
Tiered Token Launches: Categorizes projects into groups to optimize for sustainability, rewarding higher-quality ideas with better visibility and reduced fees.
Anti-MEV Protections: Includes a 6-second linearly decaying sniper tax and other safeguards to prevent bot exploitation and ensure fair trading.
Virtual SOL and No Bonding Curve: Provides instant liquidity for new tokens via virtual SOL pairing, eliminating delays and enabling immediate AMM trading.
Creator Rewards and Flywheels: Individual tokens have dedicated flywheel addresses for buybacks/burns; creators accrue fees, with transparent on-chain reporting.
Community and Foundation Transparency: Detailed disbursement reports for vested tokens, plus initiatives like Starseed for grants to strong projects.
Expanded Ecosystem Tools: Includes a creator playbook, revenue model explanations, and upcoming features like $DARK (a counterpart token) for broader utility.
3.2. Token
Heaven's native token is $LIGHT, with a maximum supply of 1,000,000,000 tokens. Distribution includes 50% of the tokens sold in the ICO (raising $27.3M), 10% for community and ecosystem initiatives, 20% to the team, 10% for the foundation, 5% to existing investors, and 5% for initial liquidity. The deflationary model has already burned ~2% of the supply via $1.2M in buybacks within the first week.
3.2.1. Utility
$LIGHT powers the ecosystem as a governance and value accrual token, with all protocol fees used exclusively for its buyback and burn, creating continuous buy pressure. Holders benefit from deflationary scarcity, potential governance in future DAO treasury decisions, and ecosystem incentives like grants. It also enables access to premium features and aligns with broader utilities in planned expansions like Starseed funding.
4. Football.Fun
Sector - GameFi
Status - Active
Football.Fun is an on-chain fantasy sports platform built on Base, focusing on Europe's top five leagues. It solves the lack of rewarding, skill-based engagement in traditional fantasy football by enabling users to own, trade, and compete with fractional player shares in a live market, turning football knowledge into real rewards without resets or repeats.
The solution includes two versions: a Free-to-Play (FTP) mode for risk-free entry and a Pro mode using USDC for real-money play, both sharing mechanics like squad building and tournaments.
Leveraging Base for low-cost, on-chain operations, the platform features randomized player packs, contracts for reward eligibility, and dynamic pricing to balance the ecosystem. Developed by Sport.Fun Panama Corp emphasizes accessibility via desktop/mobile PWA and community growth through invites.
4.1. Features
Fractional Player Ownership and Trading: Users buy/trade shares in real players. All trades on the platform's marketplace feature 5% base fees and anti-dump mechanics.
Dual Modes (FTP and Pro): FTP starts with 300 Tournament Points and three free-entry packs; Pro uses USDC (1:1 with gold) for real-money stakes, with identical setup and mechanics.
Tournaments and Rewards: Bi-weekly events (weekend/midweek) auto-enter active squad players; rewards based on shares, active supply, and performance, with top performers boosted.
Player Packs System: Randomized packs (Pro, Epic, Legendary) cost dynamic Tournament Points and contain four players with varying shares; packs recharge every four hours.
Contracts and Promotion Mechanics: Players start with four contracts for tournament eligibility; Skill Points promote development squad players to active, or cut them for partial refunds.
Invite and Bonus System: Optional invites unlock bonus rewards for referrer and invitee, boosting ecosystem growth without mandatory use.
Live Market Dynamics: Slippage adjustments for high-volume trades; focuses on top-tier players with performance-driven value.
4.2. Token
Football.Fun has no native protocol token yet, and given its trading model, there is speculation around its future implementation. Instead, it uses in-game currencies like Gold (1:1 with USDC in Pro mode), Tournament Points (TP) for packs, and Skill Points (SP) for promotions.
There is a points program via TP and SP: TP is earned from tournament performance (e.g., the top 5 players split pools based on shares) and used for packs; SP is earned from squad efficiency (top 11 players' scores) and spent to promote/cut players.
To participate and earn points: Sign up, start with FTP (300 TP, 3 packs) or fund Pro with USDC on Base; build squads, enter tournaments automatically, and claim rewards post-event. Packs recharge every 4 hours; higher shares in winners yield more points.
4.3. Investors
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