20h ago
On the evolving perp DEX market.
The future Binances are made today.
1d ago
The PerpDEX market is changing rapidly.
2021-2022: dYdX
2022-2023: GMX
2023-2024: Vertex
2024-2025: Hyperliquid
2025: Hyperliquid -> Lighter
Over the past few days, Lighter has consistently shown higher trading volumes than any PerpDEX. Interest around the project is growing. In the last few days alone:
- The project's estimated revenue ~$200M ARR by @PriorXBT
- LLP's share of volume is ~2%
- LLP is hitting its ATH daily, having already exceeded $500M after a dip on October 10th
- The price per point has returned to $90
- The number of new users is up 10,000 daily
- New side products have emerged around the project:
by @PriorXBT
by @0xJaehaerys
by @zaara_ai
The team also added RWA assets for gold and silver, partially revealed the point calculation formula, received praise from Vitalik, and much more.
On a podcast with Bankless, Vlad revealed that Lighter's average TPS is around 5,000 these days, and was 100,000-200,000 TPS during Black Friday.
This only confirms that Lighter is the fastest of all existing L2 platforms.
For me, Lighter is already a fully-fledged blue chip that has found PMF and its volumes are 80% from HFT firms.
In the near future:
- spot
- meme launch
- launch of the most popular RWA assets
This will only increase Lighter's market share.
Events are developing literally every day.
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