Lighter DEX, an Ethereum-based Layer-2 decentralized trade constructed for perpetual futures, has reached a $1.5 billion valuation earlier than its TGE (token era occasion), marking one of many largest raises of 2025 in DeFi.
The decentralized trade has recorded vital development in 2025, prompting comparability to moire established DEXs like Uniswap and Hyperliquid.
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Lighter Achieves $68 Million Increase Led by Founders Fund and Ribbit Capital
Based on Fortune, Lighter secured $68 million in recent funding from Founders Fund and Ribbit Capital. Different individuals embrace Haun Ventures and Robinhood.
The spherical cements Lighter’s valuation at $1.5 billion, highlighting investor confidence in its high-speed, zero-knowledge-powered buying and selling infrastructure.
The trade at the moment focuses on perpetual contracts and plans to roll out spot buying and selling within the coming days. The transfer may place it as a direct challenger to Uniswap DEX.
Analyst Eugene Bulltime mentioned on X (Twitter) that Lighter’s upcoming Spot Markets may set off a shift within the DEX sector, providing latency as little as 5 milliseconds and scalability rivaling conventional finance exchanges.
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Based on the DeFi researcher, Lighter’s structure may disrupt Uniswap’s AMM mannequin, which has outlined on-chain buying and selling for years.
In contrast to conventional liquidity swimming pools, Lighter’s orderbook-based system permits actual buying and selling with minimal slippage, no MEV, and 0% charges. These circumstances may appeal to high-frequency merchants migrating from centralized exchanges.
“The AMM solved early DEX issues…nevertheless it’s not sustainable for actual buying and selling. New gamers like Lighter will put vital stress on Uniswap’s DEX enterprise,” Bulltime defined.
File Buying and selling Volumes and Rising Market Share
Lighter’s development metrics are already outpacing expectations. Knowledge compiled by Dami DeFi reveals Lighter recorded $73.77 billion in seven-day perpetual quantity, surpassing each Aster ($72.03 billion) and Hyperliquid ($70.42 billion).
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On November 11, its 24-hour buying and selling quantity hit $10.08 billion, forward of Hyperliquid’s $8.54 billion and EdgeX’s $5.61 billion.
The surge is pushed by excessive throughput (650,000 TPS) and low charges, which have made Lighter one of the lively Layer-2s in 2025.
Regardless of its momentum, the trade nonetheless trails its rivals in open curiosity, at roughly $500 million, elevating questions on its sustainability as soon as incentive campaigns fade.
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Group Airdrop and Hypothesis on FDV
Lighter plans to conduct a This autumn token airdrop, allocating 25–30% of the availability to the group, based on early sources.
The challenge’s upcoming token era occasion has already sparked hypothesis on Polymarket, the place merchants are betting on its totally diluted valuation (FDV) post-launch.
With its funding secured and buying and selling quantity climbing, Lighter’s upcoming TGE may turn into one of many yr’s most-watched DeFi occasions.
If its expertise delivers on pace and scalability guarantees, the challenge may redefine on-chain buying and selling, probably setting a brand new benchmark for L2 efficiency.