Tracking volumes, TVL, token prices, and market data across the major perpetual decentralized exchanges. Live data from DeFiLlama and CoinGecko.
Across BTC, ETH, and SOL at trade sizes from $10K to $1M, Lighter prints the lowest all-in execution cost (slippage plus fees). Zero retail fees more than offset thinner books up to seven-figure tickets.
100 percent of post-TGE revenue routes to open-market LIT buys. YTD 2026 repurchase is 4.65 percent of circulating mcap against HYPE's 1.90 percent.
LIT trades at 2.6x cheaper revenue multiple than HYPE. No team or investor unlocks until December 2026 leaves an eight-month clean float window.
Custom ZK circuits prove every fill and liquidation. Trust collapses to "the math is correct." No competitor on this list can match that property without rebuilding from the rollup.