D Builder.HL 📈📉

a reminder to all to invest only what you're willing to lose if you choose to click the button, you choose to uphold that risk no crying in the casino

the reason this works: Robinhood, Binance and Coinbase books sit on private servers behind KYC. no contract will ever touch them HyperCore’s books are onchain. so once the upgrade lands in 4–6 weeks, a contract on @Enter_Elysium can price off them, hedge on them and trade on them in ~100ms, while users keep custody every exchange chain has a backyard. Elysium is the only one with a door into the house of all finance

the best long read on Elysium so far. here’s the short version if you don’t have 20 minutes the big claim: @Enter_Elysium could be the first L2 that makes its L1 richer, not poorer the problem it solves: HyperEVM is kept slow on purpose, around 3.5M gas a second, so it never gets in the way of HL’s order book. that rules out anything fast, and swaps have cost up to $20 at busy times. HyperCore spot is down 80%+ from its peak while Robinhood Chain did $25.7B of DEX volume in October alone. the demand is there, the blockspace wasn’t what Elysium brings: HYPE as gas, bridged 1:1. 100ms blocks and a target of 300M gas a second, about 85x HyperEVM (not proven under real load yet). in 4–6 weeks, contracts can read HL’s order books and place trades on them in about 100ms, through agents that can trade but never withdraw is it extractive? on blockspace, yes, as much as Base is to Ethereum. fees go 50% to $KNTQ buybacks, 25% to apps, 25% to Kinetiq, instead of burning HYPE but HL doesn’t make its money from blockspace. HyperEVM gas is worth about $1M a year. HL made about $680M, almost all from trading fees. Elysium can add to that through: market makers hedging on HyperCore new USDC, since HL earns about 90% of the reserve yield new listings, as tokens graduate to HyperCore order books and perps what could get built: onchain market makers hedging on HL, and options that share collateral with your perps. their example is 5,000 HYPE writing calls while still backing about $237K of perps, instead of losing that borrowing power by moving it to another venue the risks they flag: it never gets past memes. if it’s still mostly launchpads by end of March 2027, that’s a fail it’s zero sum, just moving activity around Hyperliquid. watch USDC bridged in from outside and HyperEVM’s DEX volume trust. one sequencer, approved validators, and a lot riding on Kinetiq their bar is simple: Elysium has to bring HL more in fees, USDC and listings than it costs in HyperEVM gas. the gas is small, so the bar is low worth the full read.

best breakdown of the HyperCore connection I've seen. the full-depth order books part is what gets me. on HyperEVM apps could only read the top of the book going deeper on this in my Elysium 101 series on Friday

it’s launch day for @Enter_Elysium. here’s the quick version of what’s coming when it goes live a new Layer 2 built by @Kinetiq_xyz for @HyperliquidX. HYPE is the gas token, blocks aim for 100–200ms, and everything settles back to HyperEVM lined up for day one: swaps on Uniswap, 0x and KyberSwap, trading on pump.fun and fomo, options on Derive and Hypercall, AI agents on Circuit, and launchpads like Ascend the big upgrade lands about four weeks after launch, when apps on Elysium can trade straight onto HL’s order books only use links from the official Elysium account, and check every contract address. there’s no token and no airdrop to claim starting tomorrow I’m doing a daily breakdown of how it all works. Elysium 101, six parts. follow along 👇

Today is the day!!!

big wallets usually wait to see if a chain survives before adding it. OKX adding @Enter_Elysium on day one 👀

everyone’s saying @Enter_Elysium will die like @arc. so I looked at what actually happened to Arc a month after mainnet, Arc had lost 94% of its daily users. 82% of day one volume came from memecoin launchpads, and only 0.34% of tokens launched hit their target. one self-trading wallet made up 38% of all volume the crowd left because there was nothing to stay for once the memes died but one thing held up. lending. borrowing on Morpho went from $0 to $190M. the real users stuck around for real products so does Elysium have the same problem? partly. pre-launch has been very meme heavy, and day one volume will drop here too. that’s what launches do the differences: - no token and no points, so there’s nothing to farm and dump - gas is HYPE, so the people showing up already hold the asset - options, agents and a direct line into @HyperliquidX order books give people reasons to stay after the memes cool off the number to watch isn’t day one. it’s week four

why I’m watching @Enter_Elysium closely into Sunday: HyperEVM laid the groundwork. Elysium is built for the high-speed trading apps that need more room to grow, with HYPE as gas day one apps include Uniswap, pump.fun, fomo, Derive options and Circuit agents half of sequencer fees go to kinetiq:native buybacks, and @AscendLaunch is already sending most of its fees there the HyperCore connection lands about a month in. that’s when apps can trade straight onto @HyperliquidX order books launch day is the headline. the first month is the real story. I’ll be tracking it here

seeing a lot of “Elysium is extracting” and MEV talk this week. I went through the docs to see what’s actually true how ordering works: @Enter_Elysium has one sequencer, run with Conduit. it orders transactions by priority fee, so whoever pays more goes first. there’s no public mempool, which makes it harder for outside bots to see your trade before it lands the fair worries: right now it’s one operator, and the validators checking its work are approved rather than open to anyone. so yes, at launch you’re trusting the setup. and bots can still pay higher priority fees to get in first, which is why launches get sniped the safety valves: if the sequencer ever refused your transaction, you can force it through on HyperEVM. it’s slow, about a day on testnet, but it means nobody can lock you out. the plan is to open validation up to anyone over time on “extracting”: every chain charges fees. on Elysium they’re paid in HYPE, and half go to kinetiq:native buybacks. you can argue about the split, but the money isn’t disappearing this is the same way Arbitrum and Base started. centralised at launch is a real trade-off and worth watching. it’s not the same thing as a scam

most people will read this as “bots on a new chain”. the bigger part lands about a month after launch once @Enter_Elysium switches on its HyperCore connection, apps there can place trades straight onto @HyperliquidX order books in about 100ms so your strategy runs on Elysium but trades against HL’s real liquidity and there’s a safety net built in. through that connection an agent can only trade. it can’t withdraw or move your funds anywhere day one, @CircuitAI agents run on Elysium. a month later, they could be trading HL’s liquidity from there. that’s the part to watch

this is the part of Elysium I’m most excited about, and it’s getting buried under the launchpad noise memes bring the crowd. options bring the people who hedge, earn yield on what they hold, and actually stay why this one matters: @DeriveXYZ did $2.94B in options volume in October alone you can post kHYPE as collateral, so your HYPE keeps earning staking rewards while you trade every trade on @Enter_Elysium pays gas in HYPE, and half the sequencer fees go to kinetiq:native buybacks after a week of copycat tokens, a serious derivatives venue on day one says a lot about what @Kinetiq_xyz is building

fomo took my money. @valhallanft took my ETH. HL gave it back @Enter_Elysium Nov 9. nearly a billion waiting. I’ve seen this movie before 👀

ran the numbers on this Elysium isn’t even live yet and one launchpad is already out-burning Kinetiq by 5x Kinetiq’s own revenue was burning about $1.75M of kinetiq:native a year. annualise @AscendLaunch day one and it’s about $9.1M. that’s roughly 7% of circulating supply bought back a year, from one app now imagine builders start copying this most launchpads print fees and buy back their own token. Ascend sends them back to @Kinetiq_xyz and HYPE instead. if just 3 apps on @Enter_Elysium ran at that pace, that’s ~$27M a year, over a fifth of circulating KNTQ. 5 apps and it’s over a third and that’s before the chain’s own sequencer fees kick in, half of which also go to KNTQ buybacks one app proved the model works. the question now is how many builders follow it

most launchpads print fees and keep them $25K of this went to kinetiq:native buybacks, $6K to hyperliquid:native stakers. the team kept about $3.5K messy start, but the money went where they said it would. that’s what alignment with @Kinetiq_xyz and @HyperliquidX actually looks like

OpenSea knows what I did. aped @valhallanft at 1 ETH and I’m still holding like it owes me money 💀 but OpenSea on Elysium? fine, one more chance

everyone’s angry about @AscendLaunch and @ElysiumPump this week, and @Enter_Elysium mainnet hasn’t even started yet. some of it’s fair. most of it is three different problems getting blended into one 1. the early opening Ascend said Nov 9, then lifted the password on Nov 4 with barely any warning. that’s a comms failure, simple as that. if you give people a date, stick to it or warn them properly 2. copycat tokens reportedly close to 200 launches in hours, a lot of them cloning OG memes. it sucks, but it’s not new. it happened on Solana, it happened on Base. permissionless means anyone can launch anything 3. the rug accusations still unconfirmed from what I can see. worth knowing Elysium Pump is an independent launchpad that’s been running before mainnet, and its own site says it isn’t affiliated with Kinetiq or Elysium the part people are skipping: every one of these problems showed up before Nov 9, not after. that’s the best possible time for it to happen what I’d want to see before Sunday: a clear explanation of why Ascend opened early verified labels so people can tell an original from a copy an easy way to check contract addresses before you ape other chains have already been through all of this. the playbook exists. the question is whether it gets used before mainnet or after people get burned as always, remember to check the CA. that part’s on us!

fomo has taken more money off me than I’d like to admit 😭 but fomo landing on Elysium has me interested. been on HL since the early days so anything new in the ecosystem gets a look from me remember the HFUN days, this will be 100x bigger iykyk so fomo on Elysium feels like a weird full circle moment because its like HFUN on steroids. time to see what’s actually here as an OG HL user I’m not ignoring that one 👀

my pronouns are e/acc

The biggest L2 in the industry is coming to us soon. Be ready, kinetiq:native ready!