Just crawled out of bed and checked my phone—well, would you look at that: Hyperliquid’s first L2, Elysium, officially opens today.
Yesterday it was still counting down; today it’s live. Alchemy is the launch RPC, and QuickNode is already connected on day one. Pump.fun, fomo, and GMGN all said they’d come aboard from day one.
The numbers are crystal clear: 50% of sequencer fees go toward buying back and burning KNTQ, 25% goes to builders as incentives, and 25% goes to the treasury. On its first day of private testing, Ascend processed $5.97 million in volume across 47,254 transactions and launched 873 tokens.
The most practical part is gas: this chain only accepts $HYPE as fuel, and every on-chain transaction requires HYPE. HYPE is currently around $77, down 12% in the past 7 days, after reaching a September high of $98.
Of course, a reality check is in order: the team still hasn’t announced an exact launch time, and there’s been no official airdrop announcement. On-chain memecoins started taking off before launch, and names like BLOB, BOXA, and KLEOS are already all over the feed. KNTQ itself is at $0.47, with an unlock cliff of 310 million tokens looming on November 27.
A: I’m jumping in today—the gas demand is real. Better get in early.
B: I’ll wait until the first wave of memecoins has had its run and the KNTQ unlock is behind us.
$HYPE $BTC
#Hyperliquid #Elysium #Kinetiq
Yesterday it was still counting down; today it’s live. Alchemy is the launch RPC, and QuickNode is already connected on day one. Pump.fun, fomo, and GMGN all said they’d come aboard from day one.
The numbers are crystal clear: 50% of sequencer fees go toward buying back and burning KNTQ, 25% goes to builders as incentives, and 25% goes to the treasury. On its first day of private testing, Ascend processed $5.97 million in volume across 47,254 transactions and launched 873 tokens.
The most practical part is gas: this chain only accepts $HYPE as fuel, and every on-chain transaction requires HYPE. HYPE is currently around $77, down 12% in the past 7 days, after reaching a September high of $98.
Of course, a reality check is in order: the team still hasn’t announced an exact launch time, and there’s been no official airdrop announcement. On-chain memecoins started taking off before launch, and names like BLOB, BOXA, and KLEOS are already all over the feed. KNTQ itself is at $0.47, with an unlock cliff of 310 million tokens looming on November 27.
A: I’m jumping in today—the gas demand is real. Better get in early.
B: I’ll wait until the first wave of memecoins has had its run and the KNTQ unlock is behind us.
$HYPE $BTC
#Hyperliquid #Elysium #Kinetiq