Kinetiq Launches Elysium L2 Testnet on Hyperliquid With HYPE as Gas

A protocol whose scale already anchors Hyperliquid is now building its own execution layer, which raises the question of whether Elysium extends Hyperliquid's orbit or competes with it for activity and fee flow. Routing gas through HYPE ties the new chain's economics back to the base asset, while a sequencer-fee burn gives KNTQ a direct link to usage rather than governance alone. The testnet-to-mainnet gap is short, so whether the throughput claims hold under real load, and whether HyperEVM activity follows, is the open question.