Liquid staking protocol Kinetiq announced the imminent launch of the layer 2 Elysium within the Hyperliquid ecosystem. This layer 2 aims to address the insufficient performance of the HyperEVM execution layer, which suffers from limited throughput and high fees. Elysium will be tightly integrated with the native trading engine HyperCore and use the HYPE token for gas fee settlement. Its economic model will distribute 25 % of sequencer revenues to builders, 25 % to the treasury, and 50 % to buyback and burn the native token KNTQ. Kinetiq claims this layer 2 should generate activity redirected to HyperCore while reinforcing the use of the HYPE token.
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