Why Elysium

Elysium is the Hyperliquid-native L2 built by Kinetiq. It runs the Arbitrum Orbit stack, settles to HyperEVM and uses HYPE as its native gas token. There is no separate chain token. It is not the older Vulcan Forged chain of the same name.

Speed makes the mechanics possible

Elysium produces real blocks every 100 to 200 ms. That makes hourly funding and clean liquidations practical: a liquidation lands in the block after the threshold is crossed, not a minute later.

HyperEVM is too slow and too expensive for this workload. Its small blocks carry 3M gas per second.

HYPE is already the asset

HYPE is everyone's gas on Elysium and most people's main asset. Shortcap uses it as native margin. There is no stablecoin to source, no wrapper to approve, no second token to hold. You deposit HYPE, you post HYPE, you withdraw HYPE.

The HyperCore hooks

Elysium plans two HyperCore integrations about four weeks after mainnet: a market-data precompile that lets contracts read HyperCore prices, and an order-routing lane.

Shortcap depends on neither at launch. The index comes from Elysium spot pools only.

When a token later gets a HyperCore spot listing, Shortcap will use the market-data precompile for that token's index. An orderbook price is harder to move than a thin pool.

The HIP-3 gap is structural

One deployer holds most HIP-3 open interest. The HIP-3 stake is worth tens of millions of dollars. That cost does not shrink for small tokens.

Elysium's memecoins will never get an official perp. Shortcap is the only place to short them.