Bankless · Friday, August 28, 2026
The Hyperliquid ecosystem is launching Elysium, a high-performance EVM designed to leverage HyperCore's infrastructure and use its native token HYPE as gas. Hasib Qureshi expressed skepticism about its potential to take off, citing past underperformance of similar initiatives and the primary user focus on perps trading on Hyperliquid.
“So Elysium, this is the post, a new era for hyperliquid. Connect, which is already most of the hyperliquid EVMs, TVL, they're launching something called Elysium, which is a high performance EVM co-located with HyperCore.”
“So far, what we've seen is that these kinds of L2s, they haven't really worked, right? There have been a number of these Solana L2s that try to build on top of Solana. They haven't really gone anywhere.”
“People are on Hyperliquid to trade perps. That's why they're there. And it's a great product for trading perps. But, you know, to go build an entire blockchain ecosystem and to get a bunch of founders to want to go and build there, I think a lot of them have already been bit.”