Kinetiq Unveils Elysium L2 With HYPE Gas for Hyperliquid

Kinetiq has announced the launch of Elysium, a new layer 2 network designed to enhance the performance of the Hyperliquid ecosystem, with the HYPE token serving as its native gas for transaction fees. The unveiling, which occurred on August 24, 2026, positions Elysium as a high-speed Ethereum-compatible execution environment aimed at overcoming performance limitations within the existing HyperEVM infrastructure. According to Kinetiq, Elysium is engineered to deliver faster block times and higher throughput, addressing barriers like the dual-block architecture, limited capacity, and high transaction costs currently associated with HyperEVM.