Kinetiq, the largest liquid-staking protocol on Hyperliquid, has launched Elysium, an OP Stack-based Layer 2 built to improve performance, throughput and composability for HYPE traders and developers.

Elysium uses HYPE as its native gas token and directly targets HyperEVM's throughput limitations, which have capped how much activity the base layer can absorb. By moving execution onto a dedicated L2 while keeping HYPE at the center, Kinetiq is positioning Elysium to widen the DeFi surface of the Hyperliquid ecosystem.

Kinetiq is not a newcomer here: its kHYPE liquid-staking token controls more than 82% of the Hyperliquid staking market and hit a peak total value locked near $2.6 billion, giving the new chain an immediate base of users and liquidity to build on.

The launch continues a wave of infrastructure being built on and around Hyperliquid, as teams race to turn its fast-growing trading base into a full onchain economy.

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