King Protocol (KING): Uses, Supply and Risks

King Protocol is a DeFi project focused on distributing rewards from restaking. Restaking protocols may produce rewards in many different ERC-20 tokens, sometimes in small fractions that can be costly or inconvenient for individual users to claim and trade. King Protocol’s design groups those rewards in a shared vault rather than distributing each fractional reward separately.

The project was formerly known as LRT². In its described model, liquid restaking tokens (LRTs) deposit restaking rewards into the vault, and restakers receive KING tokens. KING is intended to represent a share of the vault’s accumulated rewards. That makes it different from a typical governance token or a token that simply tracks the value of a particular blockchain. Public sources do not establish that KING gives holders governance rights or a guaranteed claim to a fixed amount of assets.

KING’s stated role is to represent a share of a vault holding restaking rewards. The protocol aims to combine scattered reward tokens into a single token that may be easier to manage, trade, or redeem than numerous small reward balances. This approach is intended to reduce the transaction burden for smaller restakers and give larger participants a way to trade or arbitrage vault-share tokens.

The value and usefulness of KING depend on the vault and the rewards deposited into it. The token should not be assumed to provide a fixed yield, a guaranteed redemption value, or a steady stream of rewards. The project description also does not specify a universal fee, burn mechanism, or token-payment use, so those should not be treated as established KING utilities. Before interacting, check current protocol documentation for the vault’s supported assets, redemption terms, and any applicable restrictions.

As of 2026-11-05, reported circulating and total supply were both about 5,753 KING. No maximum supply was listed, so these figures do not establish a permanent supply cap. Reported market capitalization and fully diluted valuation were each about $1.2 million. The reported price was about $201, while 24-hour trading volume was about $80. These are snapshots, not stable values; a low trading volume can also mean that buying or selling a position may be difficult without affecting its price.

KING has had substantial price movement: the reported all-time high was about $3,400.50 on 2024-12-16, and the reported all-time low was about $54.27 on 2026-04-27. Past prices do not predict future performance. Market capitalization, supply figures, and trading activity can change, and price data may differ between markets or data providers.

KING is reported as issued on Ethereum, Base, Arbitrum, and Swellchain; it is not identified as the native token of any of those chains. Because it exists across multiple networks, confirm the correct network and token contract through King Protocol’s official materials before depositing, transferring, or trading it. A token with the same name or ticker on another network may not be the intended asset.

As with other DeFi tokens, risks include smart-contract vulnerabilities, changes in the underlying restaking rewards, limited liquidity, and uncertainty about whether or how vault shares can be redeemed. Cross-chain transfers add bridge and network risks. For self-custody, use a wallet that supports the relevant network and protect its recovery phrase offline; never share that phrase or approve transactions you do not understand. Check current redemption rules and contract details before connecting a wallet. KING’s price and its relationship to vault assets are not guaranteed.