THE SHORT VERSION
  • Elysium is Kinetiq's Layer 2 for the Hyperliquid ecosystem; mainnet uses chain ID 99901.
  • HYPE pays native network fees. A separate Elysium gas token is not required.
  • HyperEVM settlement, Elysium execution and HyperCore order books are different parts of the ecosystem.
  • cove supports Elysium trading from a USDC balance in Telegram. Each trade still needs an available route and liquidity.

Which Elysium Chain does cove support?

Elysium is a general-purpose Layer 2 built by Kinetiq for Hyperliquid. Its mainnet launched on November 9, 2026. It runs an Ethereum-compatible execution environment on the Arbitrum Orbit stack and settles to HyperEVM. That gives developers a separate place to run applications while keeping settlement and assets connected to the Hyperliquid ecosystem.

The name needs care: search results also contain an older Elysium blockchain associated with Vulcan Forged. That is a different network. For the chain covered here, start from elysium.kinetiq.xyz and verify mainnet chain ID 99901. A familiar name or token ticker is not enough to identify a network.

Why build Elysium alongside HyperEVM?

An application that frequently updates prices or manages liquidity needs execution capacity. Elysium's purpose is to provide more of that capacity for trading venues, token launches and other DeFi applications. It complements HyperEVM rather than changing the network of assets already held there.

Kinetiq documents 100 millisecond canonical blocks and a 300 Mgas/s execution target. Gas per second measures computational capacity; it is not a count of completed user trades. Those chain parameters also do not establish how quickly a particular cove order will finish. Quoting, routing, the token contract and available liquidity are separate parts of a trade.

Elysium, HyperEVM and HyperCore have different jobs

Elysium runs its own smart contracts and token markets. HyperEVM is its settlement network and the bridge between Elysium assets and HyperCore. HyperCore is the environment with Hyperliquid's spot and perpetual order books. An address on one network does not automatically give you a spendable balance on the others.

The architecture allows a token to launch on Elysium, gain a representation on HyperEVM and later pursue a HyperCore spot listing. Each stage requires its own setup. Merely deploying a token, opening a pool or appearing in a screener does not mean that it has graduated to a HyperCore market.

What token does Elysium use?

Native HYPE pays Elysium network fees. The official bridge moves HYPE from HyperEVM to Elysium at a one-to-one asset ratio; no new gas token is needed. The canonical WHYPE listed in the bridge guide is an ERC-20 representation of HyperEVM WHYPE. That balance does not automatically provide native HYPE for gas.

USDC, KNTQ and newly launched community tokens can also exist on Elysium. Treat every asset as a network-and-contract pair. The official contract list identifies canonical USDC and WHYPE, while the bridge guide identifies the KNTQ representation. A token named Elysium, HYPE or KNTQ is not authenticated by its name.

What is live, and what is still planned?

The launch documentation includes EVM execution, native HYPE gas and the token bridge routes. Direct HyperCore market-data reads and the fast write integration are scheduled for a later network upgrade, described as about four weeks after mainnet. A roadmap feature should not be treated as a currently available trading function.

The launch also has a single sequencer, permissioned validation and a single data-availability server operated by Conduit. A broader data-availability committee and permissionless fraud proofs are planned. These details matter when deciding where to hold funds: fast execution alone does not describe all of a network's security assumptions.

How to get started with Elysium on cove

cove announced live Elysium support on November 9. You can open cove in Telegram and trade an available Elysium token from your USDC balance without manually preparing a bridge transfer for each trade. Before inspecting a contract, switch off Auto-buy on paste and enable trade-panel confirmations if you want a separate review. Then check the network, intended spend and current quote.

This workflow removes manual network preparation from the trading journey. It does not make every deployed token tradable or guarantee a particular output. Read the completed receipt for the actual amounts, and use the token-specific guide before buying an unfamiliar launch.

KEEP EXPLORING

Sources & further reading

Product settings and availability can change. Check the current documentation before using a feature. Educational content does not predict trading outcomes.

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