Lighter DEX, an Ethereum-based Layer-2 decentralized alternate constructed for perpetual futures, has reached a $1.5 billion valuation earlier than its TGE (token technology occasion), marking one of many largest raises of 2025 in DeFi.
The decentralized alternate has recorded vital progress in 2025, prompting comparability to moire established DEXs like Uniswap and Hyperliquid.
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Lighter Achieves $68 Million Elevate Led by Founders Fund and Ribbit Capital
In accordance with Fortune, Lighter secured $68 million in recent funding from Founders Fund and Ribbit Capital. Different members embody 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 alternate at the moment focuses on perpetual contracts and plans to roll out spot buying and selling within the coming days. The transfer might place it as a direct challenger to Uniswap DEX.
Analyst Eugene Bulltime mentioned on X (Twitter) that Lighter’s upcoming Spot Markets might set off a shift within the DEX sector, providing latency as little as 5 milliseconds and scalability rivaling conventional finance exchanges.
Why Lighter is a direct menace to Uniswap
With the launch of Spot Markets within the coming days, Lighter is about to enter a brand new market sector – DEXs. This might set off a shift on this sector.
Lighter Spot solves 3 predominant issues of DEXs on Ethereum:
– excessive latency
– MEV and personal… pic.twitter.com/LF2bo2vOzK
— Eugene Bulltime🕯️ (@Eugene_Bulltime) November 11, 2025
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In accordance with the DeFi researcher, Lighter’s structure might 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 situations might entice high-frequency merchants migrating from centralized exchanges.
“The AMM solved early DEX problems…but it’s not sustainable for real trading. New players like Lighter will put significant pressure on Uniswap’s DEX business,” Bulltime defined.
Report Buying and selling Volumes and Rising Market Share
Lighter’s progress metrics are already outpacing expectations. Information 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 crucial lively Layer-2s in 2025.
Regardless of its momentum, the alternate nonetheless trails its rivals in open curiosity, at roughly $500 million, elevating questions on its sustainability as soon as incentive campaigns fade.
Hyperliquid, Aster, Lighter, and EdgeX Open Curiosity and Perp Quantity. Supply: Hyperliquid Information on XSponsored
Neighborhood Airdrop and Hypothesis on FDV
Lighter plans to conduct a This autumn token airdrop, allocating 25–30% of the availability to the neighborhood, in line with early sources.
The venture’s upcoming token technology occasion has already sparked hypothesis on Polymarket, the place merchants are betting on its absolutely diluted valuation (FDV) post-launch.
With its funding secured and buying and selling quantity climbing, Lighter’s upcoming TGE might turn into one of many 12 months’s most-watched DeFi occasions.
If its expertise delivers on velocity and scalability guarantees, the venture might redefine on-chain buying and selling, doubtlessly setting a brand new benchmark for L2 efficiency.
