Banana Gun to Allocate 40% of Net Trading Revenue to Buying and Burning KNTQ
Key Facts
Kinetiq said Banana Gun has committed to directing 40% of net trading revenue toward buying and burning KNTQ tokens, in an announcement published by Kinetiq on November 2, 2026. Banana Gun’s page quoted Kinetiq as saying net trading revenue would fund “KNTQ buybacks and burns.” The plan links a specified share of revenue to these operations without specifying a monetary amount or token quantity. The announcement therefore does not establish how much will actually be bought or burned. The commitment comes as Banana Gun prepares to operate on the Elysium network when it launches.
The wording of the commitment makes clear that the percentage is calculated from net trading revenue, not the platform’s trading volume. The announcement did not state the revenue that will serve as the basis for the calculation, nor did it specify how many KNTQ tokens could be bought with those funds. As a result, the 40% figure alone does not estimate the scale of buybacks or their effect on supply. The plan calls for the funds to be used for buying and burning, but its actual execution will depend on the revenue generated. The announcement includes no stated target for reducing supply or expected outcome for the token’s value.
The announcement follows Banana Gun’s page saying the platform will operate on Elysium from the first day of the mainnet launch, set for November 9, 2026. The page describes Elysium as a layer 2 network within Arbitrum Orbit, built by the Kinetiq team. It also says HYPE will be the network’s native gas token, with a 1:1 link to the network. This context brings together the launch of a new operating environment for Banana Gun and its commitment to use part of its net trading revenue to buy and burn KNTQ. Kinetiq describes KNTQ as its ecosystem’s governance token and primary value-capture instrument.
Banana Gun’s page reports community testnet results showing a listing time of about 0.27 seconds compared with about 1.7 seconds. It also said transaction costs were about 5.8 times lower than on HyperEVM. The page attributed this comparison to Outposts and linked it to testnet trials. These figures provide technical context for the network set to launch, but relate to reported test results. The page does not link those measurements to trading revenue or the quantity of KNTQ to be bought and burned.
The Elysium launch partner list, according to the page, includes decentralized trading platforms Nest and Dawn, the prediction app Speculate, and launch platforms Montra and Citadel. The list presents the types of services the page says will be available within the network’s ecosystem on its first day. After launch, the page expects HyperCore hooks to arrive after about one month through an ArbOS upgrade. The announced mainnet launch date of November 9 comes before that expected upgrade. The 40% share remains tied to net trading revenue, while the announcement did not specify the date or size of the first buy or burn.