The first L2 network in the Hyperliquid ecosystem has arrived! Kinetiq will launch Elysium, using HYPE as the native Gas token

BlockBeats News, August 24th, the Hyperliquid ecosystem project Kinetiq announced the launch of the new Hyperliquid L2 network Elysium, aiming to address the existing HyperEVM performance bottleneck and the complexity of a dual-blockchain architecture. Elysium will use HYPE as the native Gas token, enabling seamless integration with HyperCore and HyperEVM. The network will be closely deployed with the Hyperliquid main chain, and the first-day block performance is expected to far exceed that of HyperEVM.

Elysium will support token issuance, with projects starting from long-tail asset AMMs, gradually integrating with Elysium's PropAMM, HyperCore spot order book, and obtaining perpetual contract listing eligibility through HIP-3.

In terms of the economic model, Elysium's Sorter fee will allocate 25% to app builders consuming block space, 25% to the Kinetiq Treasury, and 50% to programmatically buy KNTQ tokens on the open market, with the purchased portion being fully burned and sent to the Hyperliquid Aid Fund.