Elysium is launching on the mainnet tonight. Which release platforms deserve special attention?

Original | Odaily Planet Daily (@OdailyChina)

Author | Asher (@Asher_0210)

Tonight at 9 PM, the first L2 network Elysium of the Hyperliquid ecosystem will launch its mainnet. Previously, the launch of the Robinhood Chain brought a wave of Meme market. This time, the launch of Elysium may provide similar opportunities for the "P juniors" still fighting on the front lines.

So, what is Elysium? How should one prepare wallets and cross-chain funds? What token issuance platforms and potential leaders in the ecosystem deserve attention? Below, Odaily Planet Daily will summarize these points to help everyone prepare for the mainnet launch.

Elysium: The First L2 Network of the Hyperliquid Ecosystem

Elysium is the first L2 network of the Hyperliquid ecosystem built by Kinetiq. Kinetiq started with the HYPE liquid staking product kHYPE, and this launch of Elysium aims to expand the execution capacity of the Hyperliquid ecosystem, providing operational space for spot trading, asset issuance, and complex DeFi applications.

Technically, Elysium uses the Arbitrum Orbit technology stack, with transactions executed on L2 and state settled to HyperEVM, directly using HYPE as the native Gas token. The target block time is about 100 milliseconds, with a throughput of 300 million Gas per second. In addition, Elysium plans to further facilitate interaction with HyperCore, allowing smart contracts to read richer order book, balance, and position data while submitting orders with low latency, supporting applications such as market making and arbitrage.

The income distribution of Elysium is also closely linked to the Hyperliquid ecosystem. According to the announced plan, 25% of the sequencer income is allocated to application builders, 25% goes to the Kinetiq treasury, and the remaining 50% is used to repurchase and burn KNTQ tokens (according to GMGN data, KNTQ's market cap is currently reported at 410 million USD); HYPE, as the Gas asset needed for network operation, gains more use cases as the on-chain applications increase.

How to Cross-Chain to the Elysium Network?

Before the Elysium mainnet launch tonight at 9 PM, the official cross-chain bridge is not online, but to quickly position the Meme coins issued on the Elysium mainnet, the third-party bridge currently used more by the community is BOXA. The cross-chain operation is as follows:

STEP 1. Buy HYPE on a CEX. Purchase HYPE tokens from major centralized exchanges; Binance has resumed HyperEVM chain withdrawal applications.

STEP 2. Withdraw to the HyperEVM chain. After adding the HyperEVM chain, withdraw the HYPE token from the centralized exchange (make sure to select HyperEVM as the withdrawal network, do not choose Hyperliquid / HyperCore) to your personal Web3 wallet.

Network Name: HyperEVM;
RPC Address: https://rpc.hyperliquid.xyz/evm;
Chain ID: 999;
Currency Symbol: HYPE;
Block Explorer: https://hyperevmscan.io/.

STEP 3. Use the BOXA bridge to cross-chain HYPE to the Elysium network. Go to the BOXA official website (link: https://boxa.club/), select "Bridge," then click "Deposit," connect your wallet, fill in the amount, and sign.

STEP 4. Add the Elysium Network (this RPC is provided by BOXA).

Network Name: Elysium;
RPC Address: https://rpc-live.boxa.club;
Chain ID: 99901;
Currency Symbol: HYPE.

Four Token Issuance Platforms in the Elysium Ecosystem Worth Noting

Ascend: No Platform Coin Issuance, Two Meme Coins Exceeding a Million USD Market Cap

Ascend is currently the hottest token issuance platform on Elysium. On the first day of launch, the trading volume approached 6 million USD, deploying a total of 873 tokens. The platform does not issue a standalone platform token, but directly uses Kinetiq's governance token KNTQ as the protocol token and allocates most protocol fees to buy KNTQ and HYPE (with some used for burning).

In terms of project support, Ascend adjusts the creator's revenue sharing ratio based on project development dynamics and provides full lifecycle support from token issuance to subsequent ecosystem development, preparing projects for future entry into the HyperCore spot market and HIP-3 perpetual contract market.

Currently, the two hot Meme coins on Ascend are e/acc, which once had a market cap exceeding 10 million USD and is currently reported at 7.5 million USD; Ascend Accelerationism (A/ACC), currently reported at a market cap of 2 million USD.

Montra: 25% of Tokens Used for Airdrops, Two Meme Coins with Market Caps Exceeding a Million USD

The token issuance platform Montra is characterized by supporting customizable issuance rules; project parties can configure the token minting, trading initiation, and fee distribution methods. Among these, the fees earned by creators can be shared with the team, distributed to token holders, or used for token buybacks. Moreover, Montra will issue a platform token MONTRA and plans to allocate 25% of total supply for community airdrops, divided into five categories, each accounting for 5%, covering active users in the ecosystem, early creators and traders, the top ten token participants on the platform, liquidity providers, and contributors to content and referrals.

Currently, the two hot Meme coins on Ascend are EACCAT, currently reported at a market cap of 3.3 million USD; CHAMELEON, currently reported at a market cap of 1.2 million USD.

Volta: 80% of Protocol Income Used for Buyback and Burn of the Platform Token

The token issuance platform Volta supports using HYPE, KNTQ, or VOLTA to create pools for new coins, with creators able to set transaction fees, timed openings, and rules to prevent front-running, as well as allocate part of the trading fees to rewards for token holders or token buybacks. The platform collects 30% of all trading fees, with 80% used for buyback and burning of the platform token VOLTA, currently reported at a market cap of 5 million USD.

Kleos: New Coins Directly Enter Pools, Supporting Staking and Points Rewards

The token issuance platform Kleos does not set an independent Bonding Curve phase, with the entire supply of new coins directly entering the trading pool, the initial liquidity is permanently locked, allowing users to participate in buying and selling without waiting for fundraising to complete or tokens to "graduate." In terms of trading functions, in addition to regular exchanges, the platform also supports limit orders, making it convenient for users to set buy and sell orders at target prices.

Regarding user incentives, Kleos offers rewards for token holders, staking of the platform token KLEOS, as well as points and community team activities, allowing users to engage in other participation methods beyond trading. The platform token KLEOS is currently reported at a market cap of 500 thousand USD.

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