Company Update
Hyperliquid launches first L2, Elysium
Hyperliquid introduced its first layer‑2 network, Elysium, boosting throughput to about 300 million gas per second, roughly 100× HyperEVM capacity. Day one saw millions of transactions, apps like Aero, Nest, Uniswap, Ascend, fomo and Pump.fun live, and a buyback engine allocating sequencer fees to the KNTQ token. Half of fees buy back KNTQ for the Assistance Fund, a quarter go to builders, and the rest to the treasury. An upgrade expected in four weeks will enable apps to read/write HyperCore order books, expanding DeFi and spot‑trading capabilities.