Kinetic launches Elysium testnet, a Hyperliquid-focused L2 using HYPE for gas
- —Elysium uses HYPE as its gas token
- —25% of sequencer revenue goes to apps, 25% to the foundation, 50% to KNTQ buyback and burn
- —L1Read will broaden smart-contract access to HyperCore prices and liquidity
- —Trading route: Elysium AMM → market-maker AMM → HyperCore spot order book → HIP-3 perpetuals
Why it matters: A dedicated L2 could ease congestion and gas costs on HyperEVM, where a simple swap can cost over $10 at peak times.
Source: TokenPost