Hyperliquid ecosystem project Kinetiq has just announced that it is about to launch a new Hyperliquid L2 network—Elysium. This new network mainly targets the performance bottlenecks of the existing HyperEVM and the complexity of the dual-blockchain architecture.
Notably, Elysium will directly use $HYPE as its native gas token, enabling seamless composability with HyperCore and HyperEVM. It will also be deployed with high coordination alongside the Hyperliquid mainnet. Official projections suggest that its day-one block production performance will far exceed the current HyperEVM level.
On the technical design front, Elysium has customized and modified the L1Read precompiled contract, allowing Hyperliquid’s pricing and liquidity data to be directly accessed by applications and traders within the network. In effect, it becomes a native oracle for the entire ecosystem. It can also provide richer multi-dimensional market data than the existing HyperEVM—not limited to simple best bid/ask prices.
In terms of features, Elysium supports token issuance for new projects. Projects can start with the long-tail asset AMM, then gradually integrate Elysium’s PropAMM and HyperCore’s spot order book, and ultimately qualify to launch perpetual contracts via HIP-3. The path is very clear.
The economic model is also a highlight: Elysium’s sequencer fee allocation is—25% to application builders that consume block space, 25% to the Kinetiq treasury, and the remaining 50% will be used by a public-market program to purchase $KNTQ and all of it will be fully burned. The proceeds are then directed to the Hyperliquid support fund. This deflationary model is directly beneficial for token holders.
Currently, the official says Elysium is about to go live. Going forward, more specific technical details and key partner information will be released one after another. The Hyperliquid ecosystem is set to expand further—definitely worth keeping an eye on.
#Hyperliquid #Layer2 $HYPE
Notably, Elysium will directly use $HYPE as its native gas token, enabling seamless composability with HyperCore and HyperEVM. It will also be deployed with high coordination alongside the Hyperliquid mainnet. Official projections suggest that its day-one block production performance will far exceed the current HyperEVM level.
On the technical design front, Elysium has customized and modified the L1Read precompiled contract, allowing Hyperliquid’s pricing and liquidity data to be directly accessed by applications and traders within the network. In effect, it becomes a native oracle for the entire ecosystem. It can also provide richer multi-dimensional market data than the existing HyperEVM—not limited to simple best bid/ask prices.
In terms of features, Elysium supports token issuance for new projects. Projects can start with the long-tail asset AMM, then gradually integrate Elysium’s PropAMM and HyperCore’s spot order book, and ultimately qualify to launch perpetual contracts via HIP-3. The path is very clear.
The economic model is also a highlight: Elysium’s sequencer fee allocation is—25% to application builders that consume block space, 25% to the Kinetiq treasury, and the remaining 50% will be used by a public-market program to purchase $KNTQ and all of it will be fully burned. The proceeds are then directed to the Hyperliquid support fund. This deflationary model is directly beneficial for token holders.
Currently, the official says Elysium is about to go live. Going forward, more specific technical details and key partner information will be released one after another. The Hyperliquid ecosystem is set to expand further—definitely worth keeping an eye on.
#Hyperliquid #Layer2 $HYPE