Hyperliquid's first L2, Elysium, struggles at launch
Traders report that Elysium, the first chain built on Hyperliquid, was congested within an hour of its mainnet launch, then hit by heavy sandwich attacks and a sharp fall in activity.
What we know
Within the first hour of mainnet, traders reported the chain congested, and a warning circulated that the FOMO trading app was routing several Elysium tokens through malicious or highly illiquid pools. A trader says Elysium saw 24k sandwich attacks and an 80% drop in transactions on day one. Another trader flagged a speed-bump flaw on HIP-3, while others are already promoting launchpads on the chain. These are reports from traders and have not been confirmed by the Elysium team.
How the story developed
Traders report that Elysium, the first chain built on Hyperliquid, was congested within an hour of its mainnet launch, then hit by heavy sandwich attacks and a sharp fall in activity.
The Hyperliquid-adjacent Elysium chain launched with congestion reports and warnings about malicious pools on FOMO.
Elysium, a Hyperliquid-ecosystem chain, launched its mainnet with speed hype but quick complaints of congestion and warnings to bridge out.
Hyperliquid-adjacent traders anticipate tomorrow's Elysium launch, while Binance's Yi He warns against depositing funds of dubious origin.
What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
“Hyperliquid's first L2 (elysium) is ded on the first day of mainnet launch”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.