Hyperliquid just got its first serious L2. Elysium went live Nov 9th, built by Kinetiq—and it's not just another scaling play.
Here's the setup: Hyperliquid already has HyperCore (orderbook engine) and HyperEVM (smart contract layer). So why add a Layer 2?
Because speed ≠ capacity. HyperEVM works, but it can't handle high-frequency market makers who need to update quotes 5-10x per second. That's where Elysium comes in.
100ms blocks. 300 Mgas/s throughput. Built on Arbitrum Orbit via Conduit. Uses $HYPE as native gas. Targets pro market makers running PropAMMs—not your standard Uniswap pools, but algo-driven liquidity that adjusts in real time.
The flow: Launch token on Elysium → Bootstrap liquidity via AMM → Upgrade to PropAMM → List on HyperCore spot → Eventually push for perps via HIP-3.
Not every token makes it through, but the infrastructure is there.
Kinetiq isn't new. They run the #1 liquid staking protocol on Hyperliquid with ~$800M TVL (82% market share). They also built Markets.xyz (tradfi assets on-chain) and Launch (crowdfund HIP-3 market deployments). Now they're adding execution infrastructure.
No new token. Elysium uses $HYPE for gas. Sequencer fees split 3 ways: 25% to devs, 50% buyback/burn $KNTQ, 25% treasury. Devs get paid to bring volume. $KNTQ holders capture value without dilution.
120+ projects already lined up—Uniswap, Pump.fun, 0x, OpenSea, plus 29 launchpads. Early traction from Ascend, Montra, Boxa. Some tokens hitting $500K-$5M mcap already.
But here's the catch: Single sequencer at launch. Permissioned validators initially. AnyTrust DA with one server (Conduit). Standard withdrawals take 5.5 days. And Elysium is NOT an official Hyperliquid L2—it's independent.
Kinetiq raised $1.75M (Maven 11, Susquehanna, IMC, Flowdesk). Small round, big ambitions.
Mainnet is live. Now we see if the volume shows up—or if it's just another ghost chain with good specs. Watch the orderbook depth, not the TPS.
Here's the setup: Hyperliquid already has HyperCore (orderbook engine) and HyperEVM (smart contract layer). So why add a Layer 2?
Because speed ≠ capacity. HyperEVM works, but it can't handle high-frequency market makers who need to update quotes 5-10x per second. That's where Elysium comes in.
100ms blocks. 300 Mgas/s throughput. Built on Arbitrum Orbit via Conduit. Uses $HYPE as native gas. Targets pro market makers running PropAMMs—not your standard Uniswap pools, but algo-driven liquidity that adjusts in real time.
The flow: Launch token on Elysium → Bootstrap liquidity via AMM → Upgrade to PropAMM → List on HyperCore spot → Eventually push for perps via HIP-3.
Not every token makes it through, but the infrastructure is there.
Kinetiq isn't new. They run the #1 liquid staking protocol on Hyperliquid with ~$800M TVL (82% market share). They also built Markets.xyz (tradfi assets on-chain) and Launch (crowdfund HIP-3 market deployments). Now they're adding execution infrastructure.
No new token. Elysium uses $HYPE for gas. Sequencer fees split 3 ways: 25% to devs, 50% buyback/burn $KNTQ, 25% treasury. Devs get paid to bring volume. $KNTQ holders capture value without dilution.
120+ projects already lined up—Uniswap, Pump.fun, 0x, OpenSea, plus 29 launchpads. Early traction from Ascend, Montra, Boxa. Some tokens hitting $500K-$5M mcap already.
But here's the catch: Single sequencer at launch. Permissioned validators initially. AnyTrust DA with one server (Conduit). Standard withdrawals take 5.5 days. And Elysium is NOT an official Hyperliquid L2—it's independent.
Kinetiq raised $1.75M (Maven 11, Susquehanna, IMC, Flowdesk). Small round, big ambitions.
Mainnet is live. Now we see if the volume shows up—or if it's just another ghost chain with good specs. Watch the orderbook depth, not the TPS.