Just saw the data from decentralized perpetual contract trading platforms: In 2025, Hyperliquid's total contract trading volume was $2.93 trillion, with 6.7 million web visits; Lighter's total contract trading volume was $1.314 trillion, with 11.65 million web visits; Aster's total contract trading volume was $791 billion, with 13.23 million web visits. HYPE's current fully diluted valuation is $23.2 billion; ASTER's current fully diluted valuation is $4.95 billion; LIT's current fully diluted valuation is $1.73 billion. On December 30, 2025, Lighter airdropped 25% of its total token supply, 250 million LIT, to early participants on TGE day. There’s likely still some selling pressure, so I didn’t buy much—just swapped a small position over. Purely based on the feeling that LIT seems more cost-effective compared to HYPE and ASTER. LIT's token unlock schedule is as follows: 50% won't start unlocking until around December 30, 2026, and will then enter a 3-year linear release period. The remaining 25% is reserved for future incentive seasons, partner rewards, and growth plans, to be gradually released based on project progress. Among the exchanges currently offering spot trading, GATE has the best trading volume. I also bought mine on GATE.