Kinetiq plans to launch Elysium, a layer-2 network for the Hyperliquid ecosystem, on Nov. 9, aiming to give application developers more capacity than HyperEVM initially provides.
Elysium’s testnet is live, Kinetiq said. The network is designed to process application activity on a separate layer and settle it on HyperEVM, Hyperliquid’s smart contract environment. Users would pay transaction fees in Hyperliquid (HYPE).
Elysium would operate alongside HyperCore, which handles Hyperliquid’s spot and perpetual futures trading. Hyperliquid says HyperCore and HyperEVM share state, making higher HyperEVM bandwidth technically risky at launch. It initially limited HyperEVM’s processing capacity for that reason.
The live Elysium testnet uses Conduit’s G2 sequencer to order transactions. Kinetiq says it will allocate 25% of sequencer revenue to builders whose applications successfully drive use of Elysium blockspace.
The Nov. 9 mainnet launch remains a plan. Kinetiq says its prelaunch timetable may change.
