blaise.eth

Data scientist, father of 2 daughters, technologist and crypto lover.

[Lighter @Lighter_xyz]

Join the new RWA Challenge competition!

With a focus on Pre-IPO markets, traders can compete for a 100k LIT prize pool. The competition kicks off today at 11:59 PM UTC!

[Vladimir Novakovski @vnovakovski]

We had a strong week for Lighter infrastructure on Jun 1-7!

Some stats: highest number of orders processed over a 24 hour period (811M), maximum TPS of 20.7K, no latency spikes, with p99 latency at 165ms.

Proving costs under 100k, generated 1M in revenue (used for buybacks).

[cyberprince @cyberprince_rwo]

Long term position thesis: ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2

Looking at Lighter as a public market style investment rather than just a token.

@Lighter_xyz ⁠ is an on chain perpetual futures exchange built around verifiable matching and liquidation systems using zero knowledge technology. Unlike many DeFi projects, the token is issued by the same US corporation operating the protocol, creating a closer connection between platform growth and token value.

Funding and Backers:

This is where Lighter gets very interesting.

Reported investors include:

@a16z
@dragonfly_xyz
@lightspeedvp
@RibbitCapital
@RobinhoodApp and @vladtenev 👀
@foundersfund another @peterthiel appearance
@HaunVentures
@coinbase

Total capital reportedly raised: about $68 million.

Reported valuation at the latest round: roughly $1.5 billion in the private markets before token went live (in this case technically a real IPO on chain)

Lighter already processes around $1 billion in daily derivatives volume. Many crypto projects never reach product market fit. Lighter clearly has users.

Many traders view it as an earlier stage Hyperliquid style bet because both focus on perpetuals and token aligned economics.

There’s a ton of future TAM for both.

Prince’s weekend assessment:

What stands out is that Lighter is not a vaporware crypto project where you have no idea where you stand as a holder relative to the investor class above you, for example $LINK $UNI etc.

It has:

Real trading volume
Real open interest
Top tier investors
A working product
A token connected to exchange economics

If you are specifically looking for a crypto project that behaves more like an operating company than a “utility” coin, Lighter is one of the more credible examples currently trading in crypto.

~$346M market cap
~$1.38B FDV
~$1.1B daily trading volume
~$826M open interest
~398B annualized exchange volume
7.48M LIT tokens already bought back

Daily automatic revenue buybacks.

So $346M market cap supporting an exchange doing roughly $398B annualized trading volume where the assumption is that the leading perps exchanges have massive tailwinds as the cleanest financial product ever created for price discovery.

We started a position today.
95% spot
5% 5x perps

Timeframe: long term.
Current chart and plan: buy and accumulate.

[blaise.eth @EthBlaise]

@RJtradescrypto $LIT still has the airdrop sellers taking profits, once they are done selling and tokens rotate to true holders, it should 5X from here if the metrics keep improving.

[blaise.eth @EthBlaise]

@Nira_O351 Hy

[blaise.eth @EthBlaise]

@sevdaloji .

[ajey.lit (Perp Dex arc) @ajey_eth]

Lighter just did another 58.5K $LIT buyback today.

So far, Lighter has bought back around 14.47M LIT, with a current value of approximately $20.22M.

The total buybacks now represent around 1.45% of the total supply and 5.8% of the circulating supply.

And remember, Lighter is currently using 100% of its revenue for buybacks.

One more important thing: these buybacks are fully automated. As revenue is generated, the buyback bot automatically purchases LIT and transfers it to the treasury wallet without requiring manual intervention.

That’s it.
Lighter 🕯️

[blaise.eth @EthBlaise]

@InatFCBB Japan is going to win the world cup

[blaise.eth @EthBlaise]

@CreateWithTony Sometimes better to fomo in at 1.50 then wait for it to dump from 2 to 1.60😎

[blaise.eth @EthBlaise]

Number of $LIT holders going parabolic...

Lighter

[blaise.eth @EthBlaise]

Di the $1.45 $LIT seller run out of LIT?

Glighter

[Snow.lit @JohnSnow_LIT]

Lighter gives traders more efficient fills compared to Hyperliquid in many major markets
Hyperliquid had the mindshare.
Lighter is coming for the execution layer
That’s the scary part 🕯️

[Bitduke @bitcoinduke]

fees literally killed a ton of crypto algo bots, and this HL / Lighter study makes that painfully obvious

@minara re-ran 85 strategies, and 78 of them improved(91%!), profitability went from 25/80 to 35/80 just by switching the fee schedule, with zero code changes

ofc there are a lot of assumptions here, same in-sample window, zero slippage in both runs, uneven asset mix, etc. but still, Lighter’s fee structure can clearly rescue a lot of thin-edge strategies that were getting choked by venue costs

so if you’re messing with an algo strategy, and i think a lot of traders are doing that now with their favorite ai tool, and it’s almost there, you should test it on @Lighter_xyz. the cost floor is just way lower here

[Sonu 🕯️ @SonuSahu87]

> LLP vs HLP breakdown

@Lighter_xyz LLP is quietly printing.

8.45% APY vs Hyperliquid 0.92%
Sharpe ratio: 6.36 vs 5.95

> LLP is currently delivering much higher returns while still maintaining strong risk-adjusted performance.

• HLP does have larger TVL ($357M vs $105M), but that also suggests LLP is currently more capital efficient.

> HLP still has a much shorter public track record though, so it'll be interesting to see how this looks over a longer period.

> Still early, but Lighter is building something very interesting here 👀

> Waiting for LLP as a collateral that will be more intresting.

> NFA. Just watching the data. the numbers don't lie 👀

Stay $LIT

[blaise.eth @EthBlaise]

@ajey_eth 15k

[blaise.eth @EthBlaise]

Meme of lifetime opportunity?
$LIT $HYPE
Lighter
Hyperliquid

[blaise.eth @EthBlaise]

@XOVERLEVERAGEX Mine was at .97

[blaise.eth @EthBlaise]

@escapedtobefree @Simi_2210_ Simple

14*2-3=25
25*2-3=47
47*2-3=91
91*2-3=179
179*2-3=355
355*2-3=707
...

[kepo @kepochnik]

7 GitHub repo for trading on Polymarket

all of this is free and can help automate your trading

1. Analyzer: https://t.co/HqUhGJB1xh
Collects your full trade history and provides analysis

2. BTC Dashboard: https://t.co/3bM0VlP2Sq
Records data from Polymarket and Binance: order books, trades, and indicators

3. GPT Researcher: https://t.co/VTbfvRZUGJ
Researches and creates reports on major event markets

4. Huginn: https://t.co/f03Z2dyP7F
24/7 monitoring and alert system

5. Pydantic AI: https://t.co/FoqInIkqfm
Type-safe agent framework for building production bots

6. MCP Server: https://t.co/fmbnFXy6bp
45 tools: market discovery, analysis, portfolio management, and live trading

7. FastMCP: https://t.co/CTxpx7rpt9
MCP server built with Python

all of this material is completely free

[blaise.eth @EthBlaise]

@LegacySiu Empoli