Kinetiq Introduces New Layer 2 Network Elysium

Kinetiq has announced a new layer 2 environment called Elysium, aimed at enhancing the Hyperliquid ecosystem. This structure is designed to alleviate performance limitations stemming from HyperEVM, targeting faster transaction execution, robust connections with HyperCore, and new use cases for decentralized finance. Kinetiq noted that during peak periods, the cost of simple token swaps on the network can rise to as much as $20. Elysium is intended to address these issues as a high-performance EVM environment connected to HyperCore. Compared to HyperEVM, Elysium will offer shorter block times and higher transaction capacity. Kinetiq suggested that Elysium could increase volume and activity in Hyperliquid's spot market. Another component of Elysium will feature specialized AMM protocols referred to as PropAMM. Elysium will expand the token lifecycle and facilitate the creation of new assets. In the token economy, 25% of the ranking fees will be allocated to developers, 25% to the Kinetiq treasury, and 50% for KNTQ buybacks. While the launch is said to be imminent, details regarding technical specifications and ecosystem partnerships are expected to be shared soon before the launch.

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