06 // docs for holders and backers
How elynames works
What you own, what it costs, where the money goes, what the team can and cannot change, and what is still ahead. Every number on this page comes straight from the contracts.
01Overview
elynames gives every wallet on Elysium, the Hyperliquid L2 by Kinetiq, a readable name: satoshi.ely instead of 0x7099…79C8. A name is an NFT you own. It resolves to your address so people can send HYPE to it, it can be your primary name so apps show it instead of hex, and it stores your profile records on-chain. The contracts follow the ENS architecture, so any tool that speaks ENS can read .ely.
- Network
- Elysium · chain 99901
- Paid in
- HYPE
- A name is
- ERC-721 NFT
- Standard
- ENS-compatible
- Token
- None
- Core contracts
- Not upgradeable
02What you own as a holder
- An ERC-721 token in your wallet. Hold it, transfer it, or sell it on the built-in market or any NFT marketplace.
- A registration period you choose (minimum 28 days). Renew any time; anyone can renew any name, and renewing never changes ownership.
- At expiry the name stops resolving, so nobody can send funds to a lapsed name. You then have a 90-day grace period to renew. Expired names cannot be transferred, listed or sold.
- A name not renewed after grace is released through a 7-day falling-price auction instead of a gas war.
- Clean handovers: when a name changes hands, control and records move with the NFT in the same transaction. A buyer always receives a clean name.
- Art and traits (length, character set, 999 / 10K / 100K Club, expiry, status) are generated by the contract. No IPFS, no server.
03Pricing
Prices are per year, in HYPE. Shorter names cost more. Labels use a–z, 0–9 and hyphens only (3 to 63 characters), which rules out look-alike spoofing.
| Length | Price per year |
|---|---|
| 3 characters | 0.8 HYPE |
| 4 characters | 0.2 HYPE |
| 5–9 characters | 0.04 HYPE |
| 10+ characters | 0.015 HYPE |
- One- and two-character names are not open at launch. Two-character names are planned as a separate drop.
- Referrals: a buyer using a referral link gets 5% off the base price, and the referrer earns 10% of what the buyer pays (excluding auction premiums), credited on-chain and withdrawable any time. Self-referrals are ignored.
- The multisig can adjust prices for future registrations and renewals. Expiry dates already paid for never change.
04Fair launch and re-release auctions
Elysium produces a block every 100 ms with priority-fee ordering, which would let bots sweep every short name the second registration opens. Two mechanisms stop that.
- Commit–reveal. You first submit a sealed hash that reveals nothing, then register about 10 seconds later. Nobody can see or front-run the name you want.
- Launch auction. For the first 24 hours every never-registered name carries a premium on top of its yearly price. It starts at 500 HYPE and halves every hour, reaching zero at hour 24.
- Re-release auction. A name that lapses after its grace period returns with a 100 HYPE premium that halves every 12 hours and reaches zero after 7 days.
| Hours after launch | Premium on top of the yearly price |
|---|---|
| Hour 0 | 500 HYPE |
| Hour 1 | 250 HYPE |
| Hour 2 | 125 HYPE |
| Hour 4 | 31.25 HYPE |
| Hour 6 | 7.81 HYPE |
| Hour 8 | 1.95 HYPE |
| Hour 10 | 0.49 HYPE |
| Hour 12 | 0.12 HYPE |
| Hour 24 | 0 HYPE |
Between full hours the premium falls linearly from one value to the next.
05Where the money goes
All payments are in HYPE and every one of them is an on-chain event, so the totals below can be verified by anyone.
| Source | Rate | Goes to |
|---|---|---|
| Registrations and renewals | Yearly price by length | Treasury |
| Launch and re-release premiums | Auction curve | Treasury |
| Sales on the elynames market | 1.5% of the sale | Treasury |
| Secondary royalties (ERC-2981) | 2.5% of the sale | Treasury |
| Referral rewards | 10% of the buyer's base payment | The referrer |
- The treasury is a Safe multisig. Collected revenue waits in the controller until anyone calls withdraw(), which sends it to the treasury and leaves owed referral rewards untouched.
- Royalties are paid by marketplaces that honour ERC-2981; the elynames market charges its 1.5% fee directly.
06No token
There is no elynames token.
Names are NFTs paid for in HYPE. ERC-20 tokens called “Elyname (ELYNAME)” already exist on Elysium mainnet; they have nothing to do with us. The NFT collection symbol is ELYNAMES. Official news comes only from elynames.xyz and x.com/elynames.
07Admin powers: what the multisig can and cannot do
Admin roles and the registry root are held by a Safe multisig, not a single key. Its powers are written into the contracts:
The multisig can
- Change yearly prices and the auction curves
- Tune referrals, hard-capped at 30% reward and 20% discount
- Set the market fee, hard-capped at 10%
- Set the royalty rate, the treasury and the minimum name length
- Reserve brand names and register them for their real owners
- Set the commit wait, always under 1 day
- Pause new registrations and renewals in an emergency
- Swap the controller, price oracle or NFT renderer (the ENS model)
The multisig cannot
- Take, burn or transfer a name NFT you hold
- Shorten the expiry you paid for
- Move the launch time once launch has started
- Upgrade the registry or the registrar: neither is upgradeable
- Freeze transfers, records or resolution of active names; a pause only stops new registrations and renewals
Root caveat: as in ENS, whoever holds the registry root could re-point the .ely node and with it how names resolve, even though NFT ownership stays with holders. That is why the root sits behind the multisig.
08Security and risks
Done
- 31 Foundry tests, unit and fuzz: registration, pricing and auctions, expiry and grace, transfers, referrals, reserved names, market, subnames, spoofing
- Expired names resolve to nothing; primary names are verified both ways
- Brand names (Kinetiq, Hyperliquid, major apps) reserved at launch
- Registry and registrar cannot be upgraded
Know the risks
- No external audit yet: treat the contracts as new code
- Admin risk is limited by the multisig and the hard caps above, not removed
- Elysium itself is new and runs a single sequencer
- Phishing: only trust elynames.xyz and check the resolved address before sending
09Roadmap
9 Nov 2026 // Launch
- Registration with the 24h fair-launch auction
- Primary names, profiles and records
- Referrals and the built-in market
Weeks after // Integrations
- Launchpads, screeners, wallets and explorers showing names
- One-click registration once the launch rush settles
Q1 2027 // Expansion
- Two-character drop
- Subname kits for communities
- HyperCore trading stats as verifiable profile records
Later // Reach
- Resolving .ely from Ethereum tooling
- Emoji names with proper normalization
Plans, not promises: dates after launch can move, and anything shipped is announced on elynames.xyz first.
10Contracts and verification
Mainnet contract addresses, including the treasury multisig, are published here and on the Developers page at launch on 09.11.2026.
Integration details, ABIs and events are on the Developers page.
11FAQ
Is there an elynames token?
No. Names are NFTs paid for in HYPE. ERC-20 tokens called “Elyname” already trade on Elysium; they are not ours.
What happens if I forget to renew?
The name stops resolving at expiry, then you have 90 days of grace in which only you (or anyone paying for you) can renew it. After that it is released through a 7-day falling-price auction.
Can the team take my name?
No contract function lets the team take, burn or transfer a name NFT you hold or shorten its expiry. The root caveat that applies to every ENS-style system is explained under Admin powers.
Where do the fees go?
To the treasury, a Safe multisig. Anyone can push collected revenue to it on-chain; referral balances that are owed stay aside until referrers withdraw them.
Can I sell my name?
Yes, on the built-in market (1.5% fee, non-custodial, settles in one transaction) or on any NFT marketplace. Expired names cannot be sold.
Is it audited?
Not yet. The contracts have 31 Foundry tests including fuzzing, but no external audit. Treat them as new code until one is published.
Is elynames affiliated with Kinetiq or Hyperliquid?
No. elynames is an independent project built for Elysium.
Where do I find official links?
Only elynames.xyz and x.com/elynames. Contract addresses are published on this page and on the Developers page at launch.
This page explains how the protocol works; it is not investment advice. Names are utility NFTs, prices are in HYPE, and nothing here promises returns.