LAUNCH BY KINETIQ

Summary from the TLDR Crypto newsletter

Launch by Kinetiq is the first “Exchange-as-a-Service” on Hyperliquid's HIP-3 protocol. It lets any team crowdfund the 1 million+ HYPE stake needed to deploy perpetual futures markets without building backend infrastructure. Launch pools contributor capital into isolated exHYPE tokens per exchange, so slashing events only affect the specific market's staking pool, and fees are distributed transparently to backers. Operators focus on market curation, governance, and community, while HYPE holders earn dynamic yields by choosing which deployments to support. This Shopify-meets-Kickstarter model democratizes perp exchange creation, expands market diversity, and unlocks new yield primitives across the Hyperliquid ecosystem.