Elysium is about to go live, and Kinetiq will launch an L2 network for Hyperliquid.

According to Odaily, HyperliquidNews posted on platform X that Kinetiq has released an article introducing Elysium. Elysium will use HYPE as the network Gas token and will be connected with Hyperliquid’s HyperEVM and HyperCore. Kinetiq stated that Elysium will enhance transaction processing performance and throughput, support Hyperliquid spot trading, PropAMM deployment, and provide native oracle functions based on Hyperliquid data. The article states that Elysium will offer a high-performance EVM environment, support token launches via long-tail AMMs, integrate with PropAMM, create HyperCore spot order books, and deploy perpetual contracts through HIP-3. Elysium’s sequencer fee allocation plan is as follows: 25% for developer incentives, 25% to the Kinetiq treasury, and 50% for programmatic KNTQ purchases on the public market, with purchased KNTQ sent to the Hyperliquid Assistance Fund for burning.Kinetiq indicated that Elysium will go live soon, with technical specs for developers and traders to be announced shortly; its throughput and performance at launch will surpass those of HyperEVM.