Lighter is still building in the background.

The protocol has shifted from chasing volume directly to letting other companies route their users through its order book.

Market makers want to trade against retail flow, so when partners route it onto Lighter they follow it in and bring real depth with them. The bigger systematic traders need that depth to size into the book.

Telegram Wallet has brought roughly 45K new users onto Lighter since mid-April. Insilico did over $175M in volume on its first day routing through Lighter.

Lighter takes no base builder fee, so users only pay Insilico's own 1bp instead of the 5.5bps the same trade would cost through Hyperliquid's builder codes.

Time will tell if this pays off for Lighter.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。