Kinetiq launches Elysium layer-2 mainnet on Hyperliquid
Kinetiq has launched the mainnet for Elysium, an Arbitrum-powered layer-2 network settling to HyperEVM with 100-millisecond block times and gas fees paid in HYPE.
Staking protocol Kinetiq launched the mainnet for Elysium, a high-speed layer-2 blockchain built on Arbitrum technology that settles to HyperEVM, the smart contract layer of Hyperliquid. Crypto Briefing characterized the launch as an effort to expand the Hyperliquid ecosystem beyond perpetual futures trading and challenge centralized exchanges.[1][3][4]
According to reports from BSCN and crypto commentator jussy, Elysium operates without its own native token and uses HYPE to pay transaction fees, targeting block times as fast as 100 milliseconds compared to roughly one second on HyperEVM. Future upgrades are planned to let applications running on Elysium access HyperCore market data and execute orders through trade-only agents, reading Hyperliquid's full order book directly.[2][4]
Graphic data shared by jussy indicates that 50% of Elysium sequencer revenue is allocated to buy and burn Kinetiq's KNTQ token via an Assistance Fund, with 25% kept by builders and 25% directed to protocol operations. Kinetiq, described by jussy as the largest HYPE staking protocol with $880 million in total value locked, saw KNTQ reach a $152 million market capitalization after rising 62% over the month.[2]
Key facts
- Kinetiq launched the mainnet of Elysium, an Arbitrum-based layer-2 network settling to HyperEVM.
- Elysium runs without a native token of its own and pays transaction fees in HYPE.
- Elysium targets block times of approximately 100 milliseconds, compared with about one second on HyperEVM.
- Half of Elysium's sequencer revenue is dedicated to buying and burning KNTQ through the Assistance Fund, with 25% going to builders and 25% to protocol operations.
- Planned integrations will allow Elysium applications to pull HyperCore market data, read Hyperliquid's full order book, and route orders via trade-only agents.
- Kinetiq is reported as the largest HYPE staking protocol with $880 million in total value locked, with KNTQ at a $152 million market capitalization.
Sources · 3 sources
- CB
Crypto BriefingArticle ·
Kinetiq builds on Hyperliquid, aims to challenge centralized exchanges Kinetiq's move could boost Hyperliquid's ecosystem adoption, potentially reshaping decentralized finance dynamics and market perceptions. The post Kinetiq builds on Hyperliquid, aims to challenge centralized exchanges appeared first on Crypto Briefing .
Open source - JU
jussy@jussy_worldPost on X ·
Everyone's talking about Elysium, but what is it? It's a new chain on top of Hyperliquid, built by @Kinetiq_xyz (the biggest HYPE staking protocol, $880M TVL) Mainnet goes live today Why it could be big: - 100ms blocks vs 1s on HyperEVM - Gas is paid in $HYPE - 50% of its revenue buys back and burns $KNTQ - Later, apps will read Hyperliquid's full order book directly Even @blknoiz06 called it "an interesting development for the Hyperliquid ecosystem" If you want to use it on day 1: - Use a fresh wallet - Get some HYPE on HyperEVM for gas - Remember there's low liquidity everywhere Free money is already there: - @kalosfun season 1: 50% of revenue goes to users weekly by activity, moving to 90% when Kalos launches - @CorePad_hl launchpad / 6% CORE reserved for first 30 days of mainnet users KNTQ is at $152M MC, up 62% this month
Open source - CB
Crypto BriefingArticle ·
Kinetiq launches Elysium Layer 2 to expand Hyperliquid beyond perps Elysium's launch could significantly enhance transaction capacity and efficiency, potentially transforming decentralized finance and trading ecosystems. The post Kinetiq launches Elysium Layer 2 to expand Hyperliquid beyond perps appeared first on Crypto Briefing .
Open source - BS
BSCN@BSCNewsPost on X ·
Hyperliquid gets a high-speed Arbitrum chain as Elysium goes live @Kinetiq_xyz launched the mainnet of @Enter_Elysium today, a chain built on @arbitrum tech that settles to HyperEVM, the smart contract layer of @HyperliquidX. It targets blocks as fast as 100ms and uses $HYPE to pay fees. Planned links will let apps pull HyperCore market data and send orders through trade-only agents. Elysium has no token of its own and runs alongside HyperCore, Hyperliquid’s trading engine.
Open source