Yesterday on
@jaymesrosenthal live stream I said I was EXTREMELY interested in backing up the truck to buy whatever memecoin launchpad token looked like it'd dominate
@Enter_Elysium after seeing the initial success of robinhood:0x39dbed3a2bd333467115de45665cc57f813c4571 on RH Chain or even this solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn rally...
And you're telling me that token just ends up being kinetiq:native anyway???
We have an L2 that's accretive to the L1 and now a launchpad that's accretive to the L2?
Even after volumes largely collapsed, robinhood:0x39dbed3a2bd333467115de45665cc57f813c4571 is making ~$1.5m a day in fees. If
@AscendLaunch does just 10% of those fees, it'd burn 15-20% of the current kinetiq:native market cap in a year.
Just the memecoin launchpad...not the sequencer fees...not
@Markets_xyz...not
$HYPE staking revenue...none of the other business lines that are all reinforced by the Elysium ecosystem.
The issue with the HyperEVM and the related tokens this whole time is that you needed to think they'd outperform
$HYPE itself.
The bull case for kinetiq:native is that you don't even need to bet that beta chasers will buy it alongside you, you just need to bet that people will use
@Enter_Elysium, and that will torch both
$HYPE and kinetiq:native in the process.
kinetiq:native is a pure play that the largest DEX in the world will have the largest on chain ecosystem alongside it.
Ascend tokenomics update
Buybacks are moving from 90% HYPE / 10% KNTQ to 50% HYPE / 50% KNTQ.
@Kinetiq_xyz is core to how we're building on Hyperliquid. Our fee loop should reflect that. We're doubling down on the teams building Hyperliquid's foundation.
Of the KNTQ purchased, 60% will be burned, 20% will deepen kHYPE/KNTQ liquidity, and 20% will fund the Ascend points program.
The points program will run across multiple seasons to incentivize sustained activity on Ascend. Participation will be tracked through user profiles, with criteria including staking TVL, trading volume on Ascend, and ecosystem tokens held.
This AIP reflects the allocation we believe will create the most long term value for Ascend and the ecosystem growing on
@Enter_Elysium.