Kinetiq launches Elysium L2 for Hyperliquid ecosystem using HYPE as gas token, with sequencer fee revenue split across token buybacks, ecosystem grants, and treasury.
Tech & Launches ·
Kinetiq, a liquid staking protocol within the Hyperliquid ecosystem, has launched Elysium, a new Layer 2 blockchain designed to enhance performance and throughput of HyperEVM while deepening integration with HyperCore. The chain will use HYPE as its gas token and support spot trading, PropAMMs, token launches, and HIP-3 perpetuals.
Sequencer fee revenue will be allocated across three channels: 50% directed toward open-market buybacks and burns of KNTQ tokens, 25% distributed to ecosystem builders, and the remaining 25% contributed to the Kinetiq treasury. This fee structure is intended to balance token value support with ecosystem expansion and organizational operations.
The announcement does not specify a launch timeline, technical specifications beyond the gas token choice, or details on how builders will be selected to receive ecosystem grants. The relationship between Elysium's throughput improvements and existing Hyperliquid infrastructure, as well as early adoption metrics, remain unaddressed in available materials.