Kraken said kHYPE, its wrapped version of HYPE, can now be used as collateral on the Nado trading platform. According to the exchange’s post on X, the asset is available for use across perpetual futures, spot trading, and lending on Nado. Kraken also said users can deposit HYPE into Kraken custody and then use it on-chain through kHYPE. The update adds a new use case for holders looking to deploy HYPE in trading and borrowing activity through the wrapped token format.
Kraken said in a post on X that kHYPE, the exchange’s wrapped version of HYPE, is now available as collateral on the Nado trading platform.
According to Kraken, users can deposit HYPE into Kraken custody and use kHYPE on-chain for perpetual futures, spot trading, and lending.
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