Elysium, the Layer 2 network built by Kinetiq for the Hyperliquid ecosystem, has officially launched its mainnet. The EVM-compatible L2 uses HyperEVM as its settlement layer and HYPE as its native gas token, providing high-performance blockspace composable with Hyperliquid's pricing and liquidity to support a broader range of applications. Fifty percent of Elysium's sequencer fees will be allocated to buy back and burn KNTQ tokens on the open market, creating a deflationary mechanism tied directly to network activity.