Lighter (LIT)

INTERVIEW: Is $LIT Cheap? | Will Price & Flip @TrustlessState sits down with @trevor_flipper and @will__price to unpack why @Lighter_xyz may be one of the most underpriced bets in the perps market. They talk about: - Whether $LIT is just a beta trade to $HYPE - Why zero-fee trading changes Lighter’s distribution strategy - The U.S. perps market that still hasn’t opened - Lighter buybacks, revenue, and why the valuation may not reflect the opportunity [TIMESTAMPS] 0:00 Intro 3:05 Why Lighter Is Different 5:32 ZK Rollup Advantages 6:46 Charging Traders, Not Retail 12:07 Fairness Without MEV 14:50 Why Hyperliquid Can’t Copy 18:03 Distribution Beyond Crypto 22:08 Latency & Flow Quality 26:50 Technical Edge Across the Stack 30:31 RWAs & Pre-IPO Markets 34:07 U.S. Perps Market Play 36:05 Back-End For Big Brokers 38:28 Bootstrapping Liquidity 41:54 Lighter As A Platform 46:34 Token Value & Buybacks 50:11 Market Cap Versus FDV 53:02 Valuing LIT Properly 57:51 Cracked Team & Better Comms 58:13 Joining The Lighter

"Lighter has the escape hatch to Ethereum. But Hyperliquid is doing 20-30x more in fees. I was hoping for a more obvious undervaluation case." @DeFi_Dad gives the most honest Hyperliquid vs. Lighter comparison, including the fee data that complicates the bull case. https://t.co/aRcG5r6IRA

i think the market is underestimating variational. my original target was $100/point. after running the comp against lighter’s tge, i think that was too conservative. i’ve moved my target closer to $185/point and even that may not fully price in what variational is becoming. the easy comp is $LIT launched at $3b+ fdv with a 25% airdrop. but the problem with comparing variational to lighter is that variational is not really playing the same game. - @Lighter_xyz is a perp dex. - @variational_io is trying to become an onchain global brokerage layer, with perps as only one part of the stack. that changes the valuation framework. most perp dexs are fighting for the same crypto-native leverage traders: - variational’s real edge is its RFQ liquidity model. - orderbook dexs need native liquidity for every market. every new market creates fragmentation, market maker cost, and incentive spend. - variational uses an rfq model where liquidity can be routed through aggregated sources across cexs, dexs, and tradfi

$LIT Revenue and trading volume seen good upticks, even this weekend has seen higher numbers than regular trading days while normally much lower in weekends. Open interest is LOWER then all time low prices so current price is heavily spot driven Much higher buybacks per market cap then Past 9 days: Hype buybacks: 25,03m with 14,02b mcap (0,17% of supply bought) LIT buybacks 1,2m with 375m mcap (0,32% of supply bought) LIT currently 2x undervalued compared to HYPE with revenue numbers rising from the bottom and imo most likely will expand more. With LIT currently being 40x lower valued but being their main competitor, there's ALOT of room for repricing if metrics keep picking up like this. At the top, Binance was worth 35b, at the top of Bybit it was worth 3b), that's approx a ratio of 10x. If LIT achieves 10% of HYPE it still needs to x5. $ASTER currently has pretty much the same volume as $LIT, but Aster is at a 5x higher mcap. LIT is going much higher (and HYPE too but that will even increase th