Kinetiq, the largest liquidity staking protocol on Hyperliquid, is evolving from its LST protocol roots to become an "exchange factory" with the launch of its decentralized exchange (DEX) product, Markets. Scheduled to go live on January 12th, Markets will support perpetual contracts trading for assets including BABA, crude oil index, and Russell 2000 index. This move marks Kinetiq's shift towards the "Exchange-as-a-Service" model, leveraging Hyperliquid's HIP-3 protocol. Kinetiq's founder, Omnia, highlighted the strategic importance of the Markets DEX as a general-purpose HIP-3 exchange, differentiating itself through asset selection, liquidity, and user experience. The platform aims to address liquidity fragmentation by ensuring strong taker demand and market maker participation. Additionally, Kinetiq is focusing on institutional engagement through initiatives like the iHYPE capital pool, designed to attract traditional financial players by offering compliant staking solutions.