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![satoshiheist Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1240398678789165058.png) Professor Satoshi.🕯️ [@satoshiheist](/creator/twitter/satoshiheist) on x 8427 followers
Created: 2025-07-20 23:28:47 UTC

4th Monthly @Lighter_xyz Update. 

"Hockey Stick Growth"

After X months of tracking we now have sufficient data to conclude:

X. Lighter is experiencing early stages of hockey stick growth
X. Lighter's pace of growth was fastest of those in the Perp Dex Derby YTD 
X. Lighter's TVL has increased by over 10x since March 20th 2025 (4 months ago)

This makes Lighter the most successful zero fee perp dex to date. 

In the charts below I forecasted Lighter's growth factors using a (1) linear growth, (2) accelerated growth and (3) decelerated growth rate. I didn't include a negative growth rate - sue me bro.

As of July 20, 2025:

X. Assets on Lighter
- Topline TVL July 20th 2025: $214.18MM
- MoM TVL Growth: +44.83% 

X. Lighter Unique Wallets
- Unique wallets: XXXXXX
- MoM wallet Growth: +87.80%

X. Lighter Open Interest
-Open Interest: $272.80MM
- MoM OI Growth: +96.77%
  
X. Lighter Volume Growth
- Volume: $2.17B 
- MoM Volume Growth: +11.04%

X. Fees Generated
- I don't have data on this right now for Lighter but there have been discussions in the discord on tracking this. Actually what would be cool for Lighter is to track how much in fees traders saved benchmarked to Binance.

![](https://pbs.twimg.com/media/GwVUHdxWAAMdqHH.jpg)

XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947076248896782516/c:line.svg)

**Related Topics**
[$145mm](/topic/$145mm)
[$200k](/topic/$200k)
[$100k](/topic/$100k)
[tvl](/topic/tvl)
[perp](/topic/perp)
[satoshi](/topic/satoshi)

[Post Link](https://x.com/satoshiheist/status/1947076248896782516)