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.