I expect Lighter's TVL to explode when they exit invite mode. Why? Their ratio of trade volume to TVL is 11 For comparison: Hyperliquid - 1.8 Jupiter - 0.25 Drift - 0.4 dYdX - 0.8 GMX - 0.16 Paradex - 2.5 Also, this means that Lighter has the best yield right now. Once the exchange becomes accessible to everyone - TVL will grow to $1 billion at least
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