Elysium
Public liquidity pools and bonding markets for Elysium tokens.
Elysium is Kinetiq's DeFi Layer 2 for the Hyperliquid ecosystem. It settles to HyperEVM and uses native HYPE for gas.
Market Lab gives tokens deployed on Elysium a public liquidity option: anyone can create a pool, and other holders can help fund it. This sits alongside projects such as Ascend, whose launch pools use closed liquidity provision. Market Lab pools are separate, not an adapter for Ascend's pools.
How It Works
Choose a pool to supply two tokens and earn LP fees, or a bonding market to sell an existing token allocation for native HYPE without supplying a second asset. Both support optional automatic fee management. The steps below cover pools.
- Create and seed. Choose two ERC-20 tokens, a swap fee and its allowed bounds. The creator makes the first deposit, setting the initial price.
- Open to other holders. Anyone can then deposit both tokens and receive LP shares representing their share of the pool. Traders swap against its reserves; swap fees remain in the pool for LPs. The value of those shares can fall as prices move.
- Start dynamic fees. Authorize and fund a fee operator, then start
mlab pool run. The daemon observes the pool's price movement and updates its swap fee within the fixed bounds. Creating a pool alone does not start this job.
The on-chain pool holds the tokens and handles swaps; the off-chain daemon adjusts the fee. If the job stops, the pool continues working at its last applied swap fee. The operator cannot withdraw other users' LP assets.
Market Lab uses a custom constant-product AMM, following the pricing model used by Uniswap v2. It does not use Uniswap v4 contracts or hooks.
Start with the first-time pool setup, including the wallet-signing steps between commands.
Network
| Setting | Value |
|---|---|
| Network | Elysium testnet, chain 99801 |
| RPC | https://testnet-rpc.elysium.kinetiq.xyz |
| Gas | Native HYPE |
| Pool assets | Standard ERC-20 tokens, including wrapped HYPE |
| Signing | Your wallet for creation and deposits; a separate operator for dynamic fee updates |
Create a pool for two standard ERC-20 tokens deployed on Elysium. You are not limited to USDC or to Market Lab's WHYPE wrapper: use your own token pair, and deploy your own wrapper if needed. Native HYPE pays gas; wrap only the amount you want to use as a pool asset.
The pool setup guide includes a USDC/WHYPE example with deployed testnet addresses, deposit amounts and wrapper deployment commands. These assets are examples, not requirements.
mlab pool create prepares creation through the Market Lab factory. The other pool commands work with pools registered by that factory, not pools belonging to another DEX.
Command Scope
For a first-time trial, mlab token create prepares a fixed-supply test token with your name, symbol and supply. Your wallet receives the tokens, which you can use to seed a pool. This is optional; existing tokens do not need to be redeployed.
Use mlab pool and mlab curve for wallet-prepared transactions and automatic fee jobs. Wallet actions prepare unsigned transactions; your wallet signs and sends them. Fee jobs run separately in mlabd.
Python scripts can consume enriched Elysium trades and submit swaps, pool deposits and withdrawals through mlabd. Set up their separate trading wallet with mlab auth set elysium. This supports Market Lab factory markets only, not external AMMs or order-book bots.
Add --rpc-url to use another endpoint for the same chain. See Elysium's builder docs for network setup and tooling.