Odaily Planet Daily reports that Hyperliquid News posted on X that Kinetiq has published an article introducing Elysium. Elysium will use HYPE as its network gas token and integrate with Hyperliquid’s HyperEVM and HyperCore. Kinetiq states that Elysium will enhance transaction processing performance and throughput, supporting Hyperliquid spot trading, PropAMM deployment, and native oracle functionalities based on Hyperliquid data. The article notes that Elysium will provide a high-performance EVM environment and enable token launches from long-tail AMMs, integration with PropAMM, creation of HyperCore spot order books, and perpetual contract deployment via HIP-3. The fee distribution for Elysium’s sequencer is as follows: 25% allocated to developer incentives, 25% to the Kinetiq treasury, and 50% used for programmatic purchases of KNTQ on open markets; all purchased KNTQ will be sent to the Hyperliquid Assistance Fund and burned. Kinetiq says Elysium is set to launch soon, with technical specifications for developers and traders to be released shortly; upon launch, its throughput and performance will exceed that of HyperEVM.
Kinetiq to Launch Elysium L2 Network for Hyperliquid
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Summary
Kinetiq announced the upcoming launch of Elysium, a new Layer 2 network for Hyperliquid, designed to enhance network activity with improved throughput and processing speeds. Elysium will use HYPE as its gas token and integrate with Hyperliquid’s HyperEVM and HyperCore. The Layer 2 will support spot trading, PropAMM deployment, and native oracle functions. Network metrics will reflect the performance of key features such as token launches on long-tail AMMs, HyperCore order books, and perpetual contracts via HIP-3. Fee distribution will allocate 25% to developers, 25% to Kinetiq’s treasury, and 50% toward KNTQ buybacks, with tokens sent to the Hyperliquid Assistance Fund and burned.
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