Does Hyperliquid Really Need an L2? .@Kinetiq_xyz just announced Elysium, a high-performance EVM L2 built with Optimism’s OP Stack for the Hyperliquid ecosystem. But the problem it solves isn’t really perps. HyperCore already handles high-speed order-book trading extremely well. The bottleneck is the ecosystem around it: • HyperEVM has limited throughput to protect HyperCore • Gas can spike during high activity • DeFi and token launches face capacity constraints • Spot activity still lags far behind Hyperliquid’s perps market Elysium aims to change that. It provides a faster EVM environment while staying tightly connected to HyperCore. $HYPE remains the native gas token, while L1Read precompiles allow apps to access HyperCore data directly. This could create a full liquidity pipeline: Token launch → AMM → PropAMM → HyperCore spot → HIP-3 perps So, does Hyperliquid need an L2? For perps? No. For scaling DeFi, spot, token launches and builders? Probably. Elysium isn’t replacing Hyperliquid’s L1. It could be the layer that helps turn Hyperliquid from a perps powerhouse into a broader on-chain financial ecosystem.