Agora

Agora is a trading terminal for Elysium. It puts every new token from every integrated launchpad into one live feed, and lets you buy or sell any of them in one click through a single router contract that knows which bonding curve each token lives on.

It is built from three pieces:

• One feed. Agora indexes token creation and trade events from every integrated launchpad in real time and shows them in a single stream. You can filter by launchpad, graduation progress, age and watchlist, sort by newest, most traded or closest to graduation, and see holders, the creator's share and wallets that bought in the launch block for every token.
• One router. The AgoraRouter contract holds one adapter per launchpad. A single buy(padId, token, …) call reaches the right bonding curve. After a token graduates, the adapter routes to its liquidity pool instead. You never need to know which pad a token was born on.
• Terminal tools. One-click buy presets of 0.1, 0.5 and 1 HYPE, sell presets of 25, 50 and 100 %, a watchlist, per-token PnL computed from your own trades, and a feed that always marks the single hottest token.

Agora charges 0.75% on every routed trade, paid in HYPE. The router takes the fee and sends it to the treasury in the same transaction. It is non-custodial: the router holds no user funds between transactions, and there is nothing to deposit.

Agora runs today on Elysium Testnet against three Agora demo pads. Mainnet integrations with real launchpads start when Elysium mainnet goes live on November 9, 2026.

Elysium mainnet opens with more launchpads than any chain has had on its first day. pump.fun has announced Elysium for November 9. Montra, Citadel, Signal, CorePad, PerpMe, Chainzy, Oxley, Ascend and Neuriio are building there, and so are Anemos and Clover. That is twelve sites, twelve feeds and twelve bonding-curve contracts, each with its own interface.

For a trader this is the twelve-tabs problem. Seeing every new token on the chain means keeping twelve tabs open and refreshing all of them, and the token that matters is always on the tab you are not looking at. Buying it means learning another interface, approving another contract and trusting another frontend in the few seconds when the price is still low.

This has happened before. On Solana, launchpads created the tokens, but a large part of the trading moved to terminals such as Photon and later Axiom: one screen that watched every source, one click to trade, a fee on every routed trade. Those terminals became some of the highest-earning applications on Solana. Being where the trader sits turned out to matter more than being where the token is minted.

Elysium will have the same split from day one, with more fragmentation than Solana ever had. Agora is the terminal for it.

The feed

Agora reads events directly from the chain. For every launchpad it watches three things: a token was created, a trade happened on a curve, and a curve graduated. It also reads the router's own trade events, which name the user and the fee for every routed trade.

When the terminal opens it first reads the current state of every pad from view functions (the token list, each curve's reserves, HYPE collected and graduation flag), so the feed is correct on the first paint. It then backfills the event history in chunks of 10,000 blocks, newest first, which fills in charts, trade lists and PnL. After that it follows the chain head: over WebSocket where the RPC offers one, otherwise by polling every 1.5 seconds. Every event is deduplicated by transaction hash and log index, so overlapping reads never double count.

Elysium produces a block every 100 to 200 milliseconds. With polling, a new token or trade appears in the feed within about two seconds of being included in a block.

Everything the feed shows is derived from those events in one place: the spot price (virtual HYPE over virtual tokens), graduation progress, the holders estimate (wallets whose curve trades leave them with a positive balance), the creator's share, and the HYPE volume over the last ten minutes. The token with the most volume in that window is the one row drawn in amber.

The router

AgoraRouter keeps a registry of adapters keyed by a padId, the keccak256 hash of a short name such as demo-alpha. Each adapter implements IPadAdapter and translates the router's calls into whatever its launchpad expects.

A buy goes like this:

1. The terminal asks the router for a quote with quoteBuy. The quote already has the fee taken out, so the number you see is the number you get.
2. When you click, the terminal re-quotes (a quote older than two seconds is never used), applies your slippage and sends buy(padId, token, minTokensOut, deadline) with your HYPE.
3. The router checks the deadline, takes 0.75% of the HYPE and forwards the rest to the adapter, which buys on the curve and sends the tokens straight to your wallet.
4. If the curve could not use all of the HYPE because the buy crossed its graduation target, the unused HYPE and its share of the fee come back to you in the same transaction.
5. The router sends the fee to the treasury and emits a Trade event.

A sell is the mirror image. You approve the router for the amount once, the router moves your tokens to the adapter, the adapter sells them and sends the HYPE back to the router, and the router keeps 0.75% for the treasury and sends the rest to you. minHypeOut applies to what you receive after the fee.

Both calls are guarded against reentrancy, and the router only accepts HYPE from an adapter in the middle of a trade. It ends every call holding exactly zero HYPE and zero tokens. That property is checked by an invariant test that throws thousands of random buys, sells and graduation-crossing buys at the router.

Graduation routing

A bonding curve sells tokens until it has collected its graduation target in HYPE. On a real launchpad, the collected HYPE and the remaining tokens then seed a liquidity pool, and trading continues there. The adapter for that launchpad knows this: once isGraduated(token) is true, it routes buys and sells to the pool instead of the curve. The router call does not change.

On testnet the Agora demo pads do not create pools. Their curves simply close at graduation: further buys and sells revert, the terminal shows the token as graduated and disables the trade panel. A buy that would cross the target is capped at the exact remainder, and the excess is refunded.

Deployed on Elysium Testnet (chain ID 99801). Source is verified on the Blockscout explorer. Testnet contracts can be redeployed at any time; this table always shows the addresses the terminal is using.

Each demo pad is also its own adapter. Tokens are plain ERC-20s with a fixed supply of 1,000,000,000 and 18 decimals, all minted to the pad. The curve is constant product on virtual reserves, the model pump.fun popularised: buying h HYPE returns vT × h / (vH + h) tokens. Each pad's virtual token reserve is set so that 800 million tokens have left the curve at graduation and 200 million remain, the share a real launchpad would put into the pool. The demo pads charge no fee of their own, so the only fee anywhere in the system is the router's.

The adapter interface

interface IPadAdapter {
    function padName() external view returns (string memory);
    function isGraduated(address token) external view returns (bool);
    function quoteBuy(address token, uint256 hypeIn) external view returns (uint256 tokensOut);
    function quoteSell(address token, uint256 tokensIn) external view returns (uint256 hypeOut);
    /// Must forward all received HYPE to the pad and send bought tokens to `recipient`.
    function buy(address token, uint256 minTokensOut, address recipient)
        external payable returns (uint256 tokensOut);
    /// Router transfers `tokensIn` to the adapter before calling.
    /// Adapter sells and sends HYPE to `recipient`.
    function sell(address token, uint256 tokensIn, uint256 minHypeOut, address recipient)
        external returns (uint256 hypeOut);
}

• padName returns the launchpad's display name, shown in the terminal and returned by AgoraRouter.pads().
• isGraduated tells the terminal and the router whether the token still trades on its curve.
• quoteBuy and quoteSell return exact amounts for the current state, including any cap the pad applies. The router subtracts its fee on top, so its own quotes are what the user receives.
• buy receives the HYPE left after the router fee, must use it on the pad (or the pool after graduation), send the tokens to recipient, revert below minTokensOut, and refund any unused HYPE to the router.
• sell is called after the router has transferred tokensIn to the adapter. It must sell exactly that amount, revert below minHypeOut and send the HYPE to recipient.

Add your launchpad

If you run a launchpad on Elysium, adding it to Agora takes one contract. Write an adapter that implements IPadAdapter against your curve and your graduation pool, with Foundry tests for buy, sell, quotes and graduation. Then open a pull request on the Agora repository, or message @AgoraElysium on X. We review the adapter, deploy it, register it on the router under your padId, and your tokens appear in the feed. Agora does not ask launchpads for a fee or an allocation.

Agora charges 0.75% on every routed trade, buy or sell, paid in HYPE. On a buy it comes out of the HYPE you send; on a sell it comes out of the HYPE the curve pays. The router sends it to the treasury in the same transaction. The fee is set on-chain and can never exceed 1%.

The quotes in the trade panel already include the fee, and the panel shows it as a separate line. A buy of 1 HYPE puts 0.9925 HYPE into the curve and 0.0075 HYPE into the treasury. Network gas is separate and paid to Elysium, not to Agora.

Today every fee goes to the treasury. Once $AGORA launches, the plan is that part of the fees buys back $AGORA and the rest is distributed to stakers, as described in the next section.

Agora takes a fee on the trade, never on your deposits — there are no deposits.

The planned utility is simple and tied to the terminal's fee:

• Fee tiers by stake. Staking $AGORA lowers your routing fee by tier, from 1.00% to 0.75% to 0.50%.
• Buyback. A share of the fees buys back $AGORA.
• Staker distribution. The remainder of the fees is distributed to stakers.
• Referrals. A referrer earns 30% of the fees paid by the traders they bring, in HYPE, for life.

What is not decided yet:

• Total supply and how it is split.
• Where and how the token launches.
• The launch date.

Details will be announced only on @AgoraElysium. Agora will never ask for KYC, never ask you to deposit funds, and never DM you first.

Elysium is Kinetiq's Layer 2 for Hyperliquid. It is an Arbitrum Orbit chain running Nitro that settles to HyperEVM, uses HYPE as its gas token, and is bridged 1:1 to HYPE on HyperEVM. It is fully EVM compatible, so wallets, Solidity contracts and tools such as Foundry and viem work unchanged. Agora builds there for three reasons.

Day-one fragmentation

No other chain has opened with twelve launchpads competing for the same traders. The feeds and curves are fragmented from the first block, which is exactly the problem an aggregating terminal solves, and the reason the first good terminal on Elysium can become the default place to trade it.

Fast blocks

Elysium produces blocks every 100 to 200 milliseconds. That is fast enough for an EVM terminal to feel like a Solana terminal: a token appears in the feed moments after it is created, and a buy confirms before you have moved the mouse.

HyperCore data at the top of every block

About four weeks after mainnet, an ArbOS upgrade is expected to expose HyperCore market data to Elysium contracts at the top of every block. Agora will use it in two ways: to price HYPE in the terminal directly from HyperCore instead of from an external feed, and to route graduated tokens toward a HyperCore spot listing rather than only an on-chain pool.

• Testnet (now). Three Agora demo pads, the router, the live feed and the full terminal on Elysium Testnet.
• Mainnet day one (November 9). The pump.fun adapter and the first partner pads.
• Weeks one to four. One new adapter per week, until every launchpad on the Pads page is live.
• After the HyperCore upgrade. HYPE pricing from HyperCore, and graduation routing toward HyperCore spot.
• Token. After the terminal has real volume.

Read these before you trade through Agora.

• Competition. Other terminals will arrive on Elysium. Agora has to win on coverage, speed and fees every day, and may not.
• Adapters need maintenance. Every launchpad can change its contracts. An adapter that falls behind has to be fixed or unregistered, and a pad can be missing from the feed while that happens.
• The router touches value. It is a smart contract that moves HYPE and tokens. It is small, tested and holds no funds between transactions, but it has not been audited yet. It will be audited before mainnet.
• Testnet is temporary. Testnet contracts, tokens and history can be redeployed or reset at any time.
• Memecoins are risky. Most tokens launched on bonding curves go to zero. Nothing on this site is financial advice.

• X: @AgoraElysium
• Explorer: elysium.kinetiq.xyz/testnet-explorer (alternate: Conduit explorer)
• Faucet: elysium.kinetiq.xyz/testnet-faucet
• Elysium: elysium.kinetiq.xyz
• Network: Elysium Testnet, chain ID 99801, RPC https://testnet-rpc.elysium.kinetiq.xyz
• Machine-readable: /api/contracts (network and contract addresses) and /api/status (live health and on-chain activity, checked against the chain)
• Terminal: open the terminal · launch a demo token