Stabilize Money, Stabilize the World

A series about stablecoins and their place in the mission to fix our broken monetary system.

December 4, 2022 09:05 am

Blockworks Graphic by Reid Hannaford

Global energy shortages, cycles of hoarding, closing business and declining purchasing power can be traced back to poor monetary policy. For decades now, we spent more than we had and promised more than we could deliver. And now it looks like Friedman was right — you can’t increase the money supply without increasing inflation. Individuals and nations are struggling to break out of this spiraling cycle — and even leveraging the threat of war to avoid it. This series will explore how we got here and what blockchain stablecoins need to provide a better reserve currency and a more stable world.

Part 1: What’s broken

How Broken Monetary Policy Fuels Instability

Why unstable money isn’t safe for the world and how to understand monetary policy

Part 2: What are people doing today about it?

The Investor’s Guide to Stablecoins

A dive deep into the types of monetary policy alternatives that stablecoins offer

Part 3: What is the right way forward?

What Is an Inflation Hedge? Finding Stability in Today’s Market

A guide to the various inflation hedging tactics and how they can be used in stablecoins

Part 4: What will the future look like?

What It Takes To Tokenize the World

Asset backed stablecoins require a future where value in the physical world has a digital representation that can be owned and managed by anyone.

Reserve

Reserve Protocol aims to protect consumers from the effects of high inflation and hopes to one day eradicate it.

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Kinetiq Protocol: From LST Infrastructure to HIP-3 Deployer

Kinetiq has established itself as Hyperliquid's dominant liquid staking protocol, holding 82.5% of LST market share with $610M in TVL. The protocol is now expanding beyond its kHYPE staking core into higher take-rate verticals: iHYPE for institutional custody rails, Launch for HIP-3 capital formation, and Markets for builder-deployed perpetuals. We view Markets, launching Jan. 12, as the highest-potential product line given its mechanically scalable, activity-linked unit economics. Near-term revenue remains anchored by kHYPE's KIP-2 fee schedule (~$1.6M annualized), while Markets provides embedded optionality if HIP-3 economics normalize post-Growth Mode. KNTQ's setup is relatively clean: zero insider unlocks until November 2026, 6.2% buyback yield from staking revenue, and cleared airdrop overhang. Risks center on unproven Markets execution, declining kHYPE TVL despite ongoing incentives, and competition from Hyperliquid's native initiatives.

by Shaunda Devens