@kinetiq

Elysium: A New Era for Hyperliquid Introducing Elysium Kinetiq is ushering in a new era for Hyperliquid, with Elysium. It has become common knowledge that HyperEVM is less than ideal for: Traders Builders Kinetiq has dominated the vast majority of economic activity on HyperEVM and currently makes up not only the majority of network TVL, but the majority of subsequent protocol TVL further down the application stack; from money markets to options protocols. When we came across Hyperliquid in May of 2023, building a specialized app chain was already uncommon, let alone for perps, and it’s clear that Hyperliquid has met that demand and beyond. In April of 2024, when HyperEVM was announced, this is what excited us about building on Hyperliquid and creating not only a mere application, but the cornerstone of Hyperliquid DeFi, and looking back, we've succeeded in doing that. But along the way, it has become painfully obvious that the network has been unable to sustain the demand that the users it was built to serve arrived with. HyperEVM, in effort to compose with HyperCore, has introduced complexities that perplex even the most talented builders and sophisticated traders; such as a dual-block architecture, and minimal performance and throughput, leaving much to be desired. Kinetiq was built by hand for the ecosystem, with no bias or preferential support by Hyperliquid Labs or the Hyper Foundation, no kingmaking, or preferential treatment of any kind. We arrived as, and still are humble, eager builders, and have served the needs of every ecosystem participant, from retail to institution. We believe there is much, much more to be done here.

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