Petro D. | Research (@PDmytriiev)

I attended a Hyrox event today, sponsored by Red Bull, and it made me wonder how one private company can afford to sponsor so many sports and events.

The short answer is that Red Bull is a marketing company that happens to sell one very profitable drink.

•Last year it moved 13.969 billion cans for €12.2 billion in turnover, on a product that costs cents to make
•Production is outsourced, so the cash goes into the brand, with a reported quarter to a third of revenue spent on marketing
•Its approach is to own the teams and events it markets instead of buying ads around them, and those assets earn their own money through prize funds, sponsors and media rights
•It is privately held by the Yoovidhya family and Mark Mateschitz, so nobody asks for quarterly results and it can make bets that take 10 to 20 years to pay off

The events build the image, the image justifies the price, and the margin pays for the next event.

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Petro D. | Research @PDmytriiev 8h

A Lighter point is worth $20 or $15 depending on one thing: how long the campaign runs.

@Lighter_xyz on @RobinhoodCrypto Chain points: 125k distributed on Nov 13. Drops are up 5k every week since launch (65k → 125k), now 1.24M points in total.

With $LIT at ~$3.0, one point is worth about $20 if the campaign runs 16 weeks, $15 at 20 weeks.

Calculator with live LIT price: lighter-points-calculator.vercel.app

Petro D. | Research Verified account @PDmytriiev Sep 25

A Lighter on Robinhood Chain point would be worth ~$112 if the campaign ended today.

It won't, and the length of the campaign turns out to matter more than the $LIT price.

I built a calculator that prices a point off the 11M $LIT pool, the live $LIT price and the weekly drops so far, so you can see what your farming is worth before the campaign runs long. The math is simple, but the answer moves a lot depending on how many weeks are left.

What the data says

→ 465k points have gone out over six weekly drops since Aug 14, each one 5k bigger than the last (65k to 90k). At ~$4.80 the 11M $LIT pool is worth ~$53M.
→ If drops keep growing 5k a week, a point is worth ~$47 at 12 weeks (Nov 6), ~$32 at 16 weeks (Dec 4) and ~$16 at 26 weeks (Feb 12).
→ Going from 12 to 26 weeks cuts the value of a point by about two thirds, while $LIT falling from $4.80 to $3 cuts it by about a third.
→ The 2x Robinhood Wallet multiplier and this week's hedging boost lower your cost per point, but they don't grow the pool. They only help you against other farmers.

What the dashboard does

→ Pulls the live $LIT price from Lighter's $LIT/USDC spot market, with CoinGecko as a backup.
→ Maps value per point across campaign length and $LIT price against your own cost per point, so you can see where your farming stops paying.
→ Four airdrop scenarios, from a short 10-week campaign with $LIT up 50% to a diluted 26-week run with $LIT halving.
→ Shows your break-even $LIT price and the latest end date at which farming still pays.

Independent model, not affiliated with @Lighter_xyz or @RobinhoodCrypto. The assumptions are spelled out at the bottom of the page.

lighter-points-calculator.vercel.app

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Petro D. | Research @PDmytriiev 2d

Robinhood Chain made about $50M in fees, and $0 of it went to $ARB holders.

That's how most Ethereum L2s work. The operator keeps the sequencer fees, the base chain earns small settlement and blob fees, and the token sits on the side. Elysium is built the other way around.

Where Elysium differs

→ Gas is $HYPE bridged 1:1, with no new token. → 50% of sequencer fees buy and burn $KNTQ, 25% go to builders and 25% to operations. → Hyperliquid earns $USDC reserve yield, HyperCore fees and $HYPE gas, not just blob fees. → Apps read and trade HyperCore's own book instead of building separate pools that compete with it. → Tokens that win on Elysium can graduate to HyperCore spot and HIP-3 perps instead of staying stuck on the L2.

Petro D. | Research Verified account @PDmytriiev Nov 7

Elysium goes live on November 9 as a fast L2 for Hyperliquid, with half of sequencer fees and a growing list of apps buying back and burning KNTQ. Here is how it works, where the value goes and how to position for launch. x.com/i/article/2119…
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Petro D. | Research @PDmytriiev 3d

Happy to announce that @redbull is now my official sponsor 😅

0:04

Petro D. | Research @PDmytriiev 3d

Every other L2 builds its own liquidity, but Elysium is designed to trade directly against the deepest orderbook in crypto.

Tokens still move through HyperEVM using canonical and mirror bridges.

Market data and orders skip that hop entirely and go straight to HyperCore, which is what makes the chain more than another EVM.

How the two paths work

→ Read: a precompile exposes HyperCore's full orderbook at ~70 ms granularity, so contracts on Elysium can price off the live book. → Write: a trade-only agent places orders on HyperCore, and they rest on the book within 100–200 ms. → Token bridging works at launch, while read and write arrive in phase two.

Once phase two ships, an app on Elysium is effectively a front end to Hyperliquid's own liquidity.

Petro D. | Research Verified account @PDmytriiev Nov 7

Elysium goes live on November 9 as a fast L2 for Hyperliquid, with half of sequencer fees and a growing list of apps buying back and burning KNTQ. Here is how it works, where the value goes and how to position for launch. x.com/i/article/2119…
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Petro D. | Research

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