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[@trevor_flipper](/creator/twitter/trevor_flipper)
"Imagine sitting at a poker table where your opponent gets a free last look at your cards before deciding to call or fold. That is how many on-chain exchanges operate today. @tradeparadex reimagines onchain markets from First Principles to make perps trading fair. In the current decentralized perps markets high-speed market makers enjoy a free last look at your trades canceling their orders last-second if the trade would be unprofitable for them. Its as if the house never loses and youre not the house. This structural imbalance is invisible to most users (the UI feels fast after all) but it"  
[X Link](https://x.com/trevor_flipper/status/1968357600157946324) [@trevor_flipper](/creator/x/trevor_flipper) 2025-09-17T16:53Z 3744 followers, 51.5K engagements


"How Much Should Lighter Points Be Worth There is a lot of hype around Lighter right now as their points continue to trade OTC. Just a few weeks ago someone bought $363k worth of Lighter points at $XX per point which was the talk of CT for almost an entire day as many thought this was an expensive buy. Fast forward to today points are selling as high as $80/pt. At todays supply (8390137 points) $80/pt implies $2.7B FDV if TGE were today; if TGE is XXX weeks out the same price implies $3.3$3.6B. I think the question isnt Is $80/point crazy its what has to be true in X months for $XX to be fair"  
[X Link](https://x.com/trevor_flipper/status/1975334009770066052) [@trevor_flipper](/creator/x/trevor_flipper) 2025-10-06T22:55Z 3744 followers, 43.7K engagements


"Oct XX Crypto Massacre: Binance Edition The most important microstructure fact from the October 10th crypto massacre isnt just volatility was high and we had chain congestion its that the reference/pricing/quotes many desks and DEXs lean on became unreliable exactly when everyone needed it most. As it stands today I am cautious to make acquisitions on what the root cause was. It is easy to point fingers at Binance right now but I dont think that is justifiable yet. The timing of depegs and initial cascade is still being looked into. This is subject to change with more info. However for us"  
[X Link](https://x.com/trevor_flipper/status/1977480878260428912) [@trevor_flipper](/creator/x/trevor_flipper) 2025-10-12T21:05Z 3744 followers, 46.2K engagements


"Open interest (OI) on perp DEXs has been absolutely decimated since late last week dropping as much as XX% from peak-to-trough. Why am I pointing this out Because OI tends to drop when interest wanes or we hit a liquidity flush and we just saw the biggest liquidity flush ever on DEXs with $XX billion in positions wiped out across the board. It is important to note that this isnt capital that went away to farm something else this is capital that is gone. Again you might be asking why Im harping on this. Well not only was it a massive flush but tons of people got zerod out on their perps some"  
[X Link](https://x.com/trevor_flipper/status/1978126645304123473) [@trevor_flipper](/creator/x/trevor_flipper) 2025-10-14T15:51Z 3744 followers, 15K engagements


"Wow - @Lighter_xyz points just sold $XXX OTC implying a $3.4-$5B valuation (depends on when TGE is) I will reiterate my concern here: Illiquidity + FOMO tends to lead to mispriced assets Not saying that is happening now but is the direction we are heading"  
[X Link](https://x.com/trevor_flipper/status/1975596688082674055) [@trevor_flipper](/creator/x/trevor_flipper) 2025-10-07T16:18Z 3726 followers, 19.4K engagements


"Why is no one talking about @krakenfx's position assignment system Seems like a good system to implement before ADL Pecking order would be 1) liquidation (normal on OB) 2) insurance fund 3) position assignment system 4) ADL"  
[X Link](https://x.com/trevor_flipper/status/1978572983573623084) [@trevor_flipper](/creator/x/trevor_flipper) 2025-10-15T21:25Z 3725 followers, XXX engagements


"@PriorXBT @Lighter_xyz Is pretty solid lol If so incredible data. Im curious if there is a time series to to see what % of volume was premium accounts a week ago before push on premium accounts due to points boost"  
[X Link](https://x.com/trevor_flipper/status/1978639272476299556) [@trevor_flipper](/creator/x/trevor_flipper) 2025-10-16T01:48Z 3744 followers, 1181 engagements