Elysium's pitch is that it can pay Hyperliquid over $100M a year @ericonomic's piece argues Elysium is the first value-accretive L2, purpose-built for @HyperliquidX. The case rests on two mechanisms. The problem he's setting up → Rollups pay Ethereum for settlement and data availability, but successive upgrades made DA deliberately cheap to keep L2 fees low. → The result: ~0.7 ETH (~$1,700) paid to Ethereum across major rollups on September 5th, and not even all of that burns. → So L2 TVL and volume can grow indefinitely without moving L1 revenue, the "parasitic L2" framing he uses as his foil. What Elysium changes → Settlement is conceded: @Enter_Elysium posts commitments to HyperEVM like any rollup and is unlikely to accrue significant value that way. → Native $USDC: Elysium's $USDC is backed by native $USDC minted on HyperEVM, and AQAv2 pays @HyperliquidX roughly 90% of cost-adjusted reserve yield on that supply, so external capital becomes L1 revenue even if it never touches HyperCore. At Base-scale supply that's $113M/year. → Spot arbitrage: strategies read HyperCore prices and full book depth natively, no oracles or external APIs, and write intents back in roughly one HyperCore block. Every price gap becomes an incentive to trade against HyperCore: more spot volume, more fees, more Assistance Fund burn. → His reason HyperEVM couldn't do this: constrained blockspace breaks exactly during volatility, when arb matters most. → Plus 25% of sequencer revenue routed back to builders. tl;dr: BULLISH AF ON @Enter_Elysium @Kinetiq_xyz @Markets_xyz