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Lighter has surged ahead, overtaking major competitors to become Ethereum’s top app-chain and sixth-largest layer-2 by total value locked (TVL). This rapid ascent makes Lighter a genuine leader among decentralized perpetual trading platforms. Sponsored Sponsored Lighter DEX’s Impressive Debut and Rapid Growth The DEX stormed into L2Beat’s leaderboard only recently, becoming the sixth-largest Layer 2 by TVS. It is also the leading app-chain on Ethereum in record time. Lighter DEX Metrics. Source: L2Beat Passing as Hyperliquid with Ethereum-grade property rights, Lighter’s arrival is rekindling the conversation about whether Ethereum can finally host a truly competitive Perpetuals DEX (PerpDEX) without sacrificing security or scalability. According to Ryan Adams, founder of Bankless, Lighter’s debut is impressive. Adams cited its combination of zero token issuance costs, Ethereum-grade security, and infinite scalability. Impressive debut on L2Beat by @Lighter_xyz. Lighter is a perps exchange – Hyperliquid with Ethereum grade property rights. Already the 6th largest L2 by TVL and the #1 appchain L2 on Ethereum. Advantages:– No token issuance costs– Ethereum grade security– Infinitely… pic.twitter.com/yVXOjhhS1Y — RYAN SΞAN ADAMS – rsa.eth 🦄 (@RyanSAdams) October 8, 2025 The project is emerging as a flagbearer for the next generation of Ethereum app-chains. These comprise custom zk-based rollups that preserve Ethereum’s core principles while scaling performance to rival specialized ecosystems like Solana and Cosmos. “Being an L1 is a bug, not a feature…An L1 is just an Ethereum L2 without any of the security and verifiability parts,” Adams stated, citing Lighter’s founder, Vladimir Novakovski. This philosophy has struck a chord with Ethereum maximalists. Many see Lighter as proof that DeFi’s final missing piece, a native, high-performance derivatives exchange, can live on Ethereum. Sponsored Sponsored Surging Capital, Surging Confidence Over the past week, Lighter LLP has overtaken Hyperliquid HLP, according to data shared by analyst Eugene Bulltime. “LLP has…

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Filed under: News - @ October 9, 2025 1:30 pm