Joined April 2013
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I've been asked probably hundreds of times what the difference in scale between Elysium and HyperEVM will be like:
Enjoy :]
p.s. ask anyone building on Elysium testnet how it feels and you'll be quite pleased
e/acc
Omnia π retweeted
Contract audits and real-time onchain data @serialized_xyz
Live on testnet today, ready for Day 1 of Elysium mainnet.
hear me out
extremely performant general purpose layer
+
extremely performant orderbook technology
e/acc
Omnia π retweeted
On Elysium, @cantinasecurity brings access to Apex as builders ship toward mainnet on November 9th.
e/acc
Elysium is going live on November 9, and we’re very excited to be part of it!
The testnet is now open for developers to build and test applications, and we’re helping @Kinetiq_xyz keep it secure through continuous testing with Apex.
When finding any bug, Apex will provide developers the evidence and guidance to fix them fast.
Can't wait for the launch, @Enter_Elysium !
Omnia π retweeted
Ascend is committing up to $250,000 to builders and creating a path for exceptional teams to earn directly from Ascend’s revenue.
Introducing the Ascend Builder Incubator and Ascend Strategic Partner Program.
Builders from every chain are welcome. DeFi protocols, memecoins, experiments with perps and outcome markets, AI products, consumer apps, and more. Come build and launch with Ascend.
1. Ascend Builder Incubator
We’re allocating up to $250,000 in direct funding across selected incubator teams, with the potential to increase this commitment if we see an exceptional influx of high-quality projects.
Builders will also receive KNTQ incentives through Ascend Points, hands-on development support, coordinated distribution, and targeted introductions to institutions, VCs, and ecosystem partners.
They will also work with our new tokenomics and onchain growth specialist on token design, incentives, GTM strategy, and launch execution. His experience includes advising Pumpfun, Variational, and Monad as well as onchain projects reaching 9-figure valuations.
Builders will also work directly with @tago_capital, a design, product, and development studio whose clients have collectively raised $80M in venture capital. Their team brings experience building with J.P. Morgan, Atlassian, the University of Oxford, Commonwealth Bank of Australia, Canva, Macquarie Bank, and Infinex.
Qualifying projects can pursue Ascended status and ecosystem buybacks, HyperCore spot listings, and eligible HIP-3 perpetual markets facilitated by our partner @Kinetiq_xyz
2. Ascend Strategic Partner Program
Exceptional incubator teams and leading Ascend projects can earn a long-term economic partnership with Ascend, receiving the full incubator package plus recurring allocations from a dedicated portion of Ascend’s revenue.
We’ll select one inaugural Strategic Partner from the incubator, based on product quality and our conviction in the team’s ability to execute.
Each partner’s revenue allocation is split:
75% paid directly to the project’s treasury for development, salaries, and growth.
25% toward automatic open-market buybacks of the project’s token, separate from existing ecosystem buybacks for which it qualifies.
This gives selected teams another income stream from Ascend itself, extending beyond their own token’s trading activity. Direct treasury payments require no token sale, helping fund development and operations without relying entirely on creator fees or selling tokens.
Builders gain an ongoing financial relationship with the platform they help grow. Allocations depend on eligible Ascend revenue actually received.
Apply to the incubator: forms.gle/WaMxDAimH2RkdxrX8
Tag a builder or project you wanna see on Ascend. We’ll select some of our favorite nominations for Ascend NFT whitelist spots.
Having talked to both the @AscendLaunch and @MontraXYZ teams extensively now, it's pretty clear who the winner is going to be in the Elysium launchpad war...
kinetiq:native and Elysium users.
Two extremely promising teams competing with very different models is the best case scenario for the ecosystem.
It's going to feel extremely obvious in hindsight that the number one app/DEX in crypto, @HyperliquidX, will have the #1 on chain ecosystem alongside it.
Omnia π retweeted
Having talked to both the @AscendLaunch and @MontraXYZ teams extensively now, it's pretty clear who the winner is going to be in the Elysium launchpad war...
kinetiq:native and Elysium users.
Two extremely promising teams competing with very different models is the best case scenario for the ecosystem.
It's going to feel extremely obvious in hindsight that the number one app/DEX in crypto, @HyperliquidX, will have the #1 on chain ecosystem alongside it.
Big if true
Since true, big
e/acc
Thoughts on the upcoming Elysium launch:
As an absolute $HYPE maxi over an extended timeframe, it recently became clear that (in what is the most ironic possible outcome) CT's obsession with a cashflow/security valuation framework has become self-defeating.
Since the conception of the cryptoeconomy, the dominating valuation framework has rested on some ill-defined network metrics (e.g., metcalfe's law) while cashflow was reserved as very much secondary, or non-existent. In the meantime, the vast majority of crypto participants were actively fighting the security status of cryptoassets while under fire from the Gensler-era SEC, which suggested the cashflow/DCF-style modeling as erroneous, and decisively so when the SEC determined cryptoassets as emphatically NOT securities.
What's surprising about the canonical hype valuation framework is that it flies in the face of everything this space fought so hard to overcome, and very specifically effects arguably the best product to ever emerge from the cryptoeconomy. I think that it's because the mind virus around cashflow has muddied the fact that hyperliquid is not a security, and in fact contains exactly the network features that ETH, SOL, ZEC, etcetera, possess, and from which their fair market valuations profit tremendously (and appropriately).
So back to @Kinetiq_xyz and @Enter_Elysium: if scaling the network component of hyperliquid can make more obvious this trait of hyperliquid, then the first thing that happens is that the network effects and corresponding fair market value explode, as we've seen in the past. On top of that, if the bottom line is accretive to hyperliquid, then not only does hype gain from the network effect/speculative premium, but also a genuine economic force supporting the ecosystem. That could be huge.
Omnia π retweeted
Thoughts on the upcoming Elysium launch:
As an absolute $HYPE maxi over an extended timeframe, it recently became clear that (in what is the most ironic possible outcome) CT's obsession with a cashflow/security valuation framework has become self-defeating.
Since the conception of the cryptoeconomy, the dominating valuation framework has rested on some ill-defined network metrics (e.g., metcalfe's law) while cashflow was reserved as very much secondary, or non-existent. In the meantime, the vast majority of crypto participants were actively fighting the security status of cryptoassets while under fire from the Gensler-era SEC, which suggested the cashflow/DCF-style modeling as erroneous, and decisively so when the SEC determined cryptoassets as emphatically NOT securities.
What's surprising about the canonical hype valuation framework is that it flies in the face of everything this space fought so hard to overcome, and very specifically effects arguably the best product to ever emerge from the cryptoeconomy. I think that it's because the mind virus around cashflow has muddied the fact that hyperliquid is not a security, and in fact contains exactly the network features that ETH, SOL, ZEC, etcetera, possess, and from which their fair market valuations profit tremendously (and appropriately).
So back to @Kinetiq_xyz and @Enter_Elysium: if scaling the network component of hyperliquid can make more obvious this trait of hyperliquid, then the first thing that happens is that the network effects and corresponding fair market value explode, as we've seen in the past. On top of that, if the bottom line is accretive to hyperliquid, then not only does hype gain from the network effect/speculative premium, but also a genuine economic force supporting the ecosystem. That could be huge.
Omnia π retweeted
my conviction on @Kinetiq_xyz is purely a bet on @0xOmnia and the team delivering a pristine experience with @Enter_Elysium.
the progress so far is quite satisfying. there's a wave of protocols steering the ship towards the ecosystem. no big protocols yet, but I feel that's the beauty of it.
maybe a bit weird, but if we're looking into mythology, Elysium is the place of absolute peace, free from the struggles of the normal world.
besides the struggles of HyperEVM that the Kinetiq team fixes with the launch of Elysium, there's another important aspect that I think will make sense in the grand scheme of things.
any chain that launches goes through these phases of cannibalization and economic parasitism. all the protocols launching in that specific ecosystem have a single motivation: compete for users and liquidity, rise to the top and create the most value for your token.
there's nothing wrong with this per se, but it is why PvE turns into PvP so quickly, as the resources on any chain will eventually become finite. let's not even touch on the vast number of L2s which give crumbs back to the actual L1 as they achieve structural decoupling.
Elysium seems to be designed around the exact opposite idea.
instead of creating another sovereign economy that slowly decouples from the layer underneath it, its success is still structurally tied to the success of Hyperliquid.
$HYPE remains the native gas asset. applications on Elysium are meant to interact with HyperCore liquidity rather than recreate it somewhere else. more activity on Elysium can therefore translate into more market making, arbitrage, hedging and ultimately more volume flowing through HyperCore.
the L2 doesn't need Hyperliquid to lose for Elysium to win.
quite the opposite.
if Elysium becomes a better execution environment for applications that simply cannot operate efficiently on HyperEVM today, it expands the surface area of what can be built around Hyperliquid while keeping the economic gravity centred around the same ecosystem.
and this simple reflexivity is also reaching other builders, the ones which are not trying to compete purely in their own interest on Elysium, but actually the ones giving back to the Elysium ecosystem and the Kinetiq community.
it's through protocols like @AscendLaunch, @NestExchange or @MontraXYZ, which have already announced that they will use part of their fees to buy back kinetiq:native tokens and burn them, in a similar process to what the Hyperliquid Foundation is doing.
and imagine if you get 10-20 protocols doing the same, working together to push the chain further. what will this attract in the end?
a stronger community, more activity, more interest from developers, making Elysium a more attractive place to launch your protocol and work together to build something great.
simply put, a high-throughput utopian world.
i strongly believe we are about to see a new standard being set for how any ecosystem should operate and how the force and alignment of the builders inside the ecosystem can create a halo effect.
e/acc
One of the best written explanations and theses on @Enter_Elysium, really enjoyed reading this one
Few
e/acc
my conviction on @Kinetiq_xyz is purely a bet on @0xOmnia and the team delivering a pristine experience with @Enter_Elysium.
the progress so far is quite satisfying. there's a wave of protocols steering the ship towards the ecosystem. no big protocols yet, but I feel that's the beauty of it.
maybe a bit weird, but if we're looking into mythology, Elysium is the place of absolute peace, free from the struggles of the normal world.
besides the struggles of HyperEVM that the Kinetiq team fixes with the launch of Elysium, there's another important aspect that I think will make sense in the grand scheme of things.
any chain that launches goes through these phases of cannibalization and economic parasitism. all the protocols launching in that specific ecosystem have a single motivation: compete for users and liquidity, rise to the top and create the most value for your token.
there's nothing wrong with this per se, but it is why PvE turns into PvP so quickly, as the resources on any chain will eventually become finite. let's not even touch on the vast number of L2s which give crumbs back to the actual L1 as they achieve structural decoupling.
Elysium seems to be designed around the exact opposite idea.
instead of creating another sovereign economy that slowly decouples from the layer underneath it, its success is still structurally tied to the success of Hyperliquid.
$HYPE remains the native gas asset. applications on Elysium are meant to interact with HyperCore liquidity rather than recreate it somewhere else. more activity on Elysium can therefore translate into more market making, arbitrage, hedging and ultimately more volume flowing through HyperCore.
the L2 doesn't need Hyperliquid to lose for Elysium to win.
quite the opposite.
if Elysium becomes a better execution environment for applications that simply cannot operate efficiently on HyperEVM today, it expands the surface area of what can be built around Hyperliquid while keeping the economic gravity centred around the same ecosystem.
and this simple reflexivity is also reaching other builders, the ones which are not trying to compete purely in their own interest on Elysium, but actually the ones giving back to the Elysium ecosystem and the Kinetiq community.
it's through protocols like @AscendLaunch, @NestExchange or @MontraXYZ, which have already announced that they will use part of their fees to buy back kinetiq:native tokens and burn them, in a similar process to what the Hyperliquid Foundation is doing.
and imagine if you get 10-20 protocols doing the same, working together to push the chain further. what will this attract in the end?
a stronger community, more activity, more interest from developers, making Elysium a more attractive place to launch your protocol and work together to build something great.
simply put, a high-throughput utopian world.
i strongly believe we are about to see a new standard being set for how any ecosystem should operate and how the force and alignment of the builders inside the ecosystem can create a halo effect.
e/acc
