Core Insights - In October, Perp DEX trading volume exceeded $1.7 trillion, marking a new high for four consecutive months [1] - Aster contributed $820.8 billion in trading volume, while Hyperliquid reached $317 billion, Lighter $272.5 billion, and edgeX $137.5 billion [1] - The number of monthly active users for Perp DEX reached 64,600, with total positions amounting to $559.1 billion, both setting historical records [1]

Two years ago I was farming 60+ protocols across 10 chains.Some paid off like Etherfi and Kamino, while others flopped such as Stacks, Sei, Blast, and Injective.The era of spreading capital thin and hoping for big airdrops is (clearly) over.That makes life harder for smaller and less funded ecosystems.Before, they could launch points campaigns and attract liquidity and attention.Now they need real budgets for InfoFi platforms, KOLs campaigns on X, Echo/Legion/Kaito sales, and backdoor deals with 'vault mana ...

RT RYAN SΞAN ADAMS - rsa.eth 🦄 (@RyanSAdams)I asked @vnovakovski the founder of @Lighter_xyz why other platforms are still building for L1s and citing performance reasons?"idk, maybe they made a technical choice 2 years ago that's not relevant today. Those guys should go talk to @SuccinctLabs."He says there's no performance limitation to L2s - Lighter could run at 1m TPS now if it needed to."The more secure the L1, the more performant the L2."It seems Lighter is an L2 for one simple reason.A better product ...

Risks and Concerns - User funds are held on off-chain servers, posing risks, especially with increasing economic volatility [1] - Until this year, none of these servers were even Stage 1, and still, none of them are Stage 2 [1] - Users may suffer losses due to being skeptical of L2 solutions being "Ethereum" [1] - A forced transaction delay of 18 days exists [1] Technical Distinctions - Technical distinctions between Ethereum and other platforms matter [1] - The market values Ethereum's value in L2s [2] Industry Perspective - Some "Solana" people (technical individuals) are skeptical about everything being Ethereum due to technical differences [1] - Fidelity argues that Ethereum's value is the GDP on top of it, meaning its value is in L2s [2]

RT 3nes (@crypturco)I was using lighter with high 7figs and l could not close any position even though l tried hard last 4 to 5 minutes, experience was all good until it wasn’t. I will update you about Lighters reaction @Lighter_xyz @vnovakovskiDefinitely do not trade with size like l did, ...

Lighter 开局如果上币安，而且给币安用户空投，那就意味着他没有做出超越币安产品的野望和信心这时候 Lighter @Lighter_xyz 如果接住 perpdex 反撸的流量搞事，我会非常看好他的开盘，因为对家出问题而他的格局大了，那口碑就好起来了，也同时意味着他们的阵营不和 CEX 走在一起懂事的创始人得知道空投格局应该有多少了。当然走传统的 TGE 大满贯路线无疑是稳妥的，只是在我心里对应评分也会低了那么一点 ...

Airdrop Opportunities - Top mentions include Yeet (crypto casino, volume-based), Lighter (perps, volume-based), Abstract (L2, XP-based), Polymarket (prediction market), Opensea (marketplace, volume and quests), and Vooi (Perps/DEX, InfoFi campaigns) [1] - Honorable mentions include Myriad Markets, Aster, and Cerebro [2] - Limitless (prediction market, volume and InfoFi campaigns), Project X (DeFi, volume and invites), and Wallchain (InfoFi, participation-based) are considered underfarmed Q4 airdrops [2] Airdrop Mechanisms - Airdrops are primarily based on volume points, XP, quests, and participation in InfoFi campaigns [1][2] - Volume points are a common metric for airdrop eligibility in crypto casinos, perps, and DeFi projects [1][2] - InfoFi campaigns and participation are also key factors for airdrop eligibility [1][2]

Technical Issue - The original Lighter referral link in the tweet is not working because the associated ref code has been used up [1] - A new referral link is provided as an alternative [1]

AI Perp Trading Agents Landscape - The report identifies 25 AI solutions and adjacent products focused on perp trading agents [1] - Several solutions are focused on Hyperliquid rollout with plans to expand to Lighter/Aster farming [1] - The interest is driven by the potential for airdrops and yield optimization across multiple platforms [4] Specific AI Solutions and Strategies - Some agents are designed for trading funding rates or prediction markets [1] - Solutions include yield automation, sentiment-driven analytics, and trading co-pilots [1][3] - Several platforms offer no-code frameworks for deploying Agentic Capital Management solutions [3] Key Features and Functionalities - AI agents are being developed for depositing capital, selecting risk profiles, and automated trading [4] - Some solutions provide AI-powered DeFi abstraction layers, focusing on security [1] - Features include sentiment-driven analytics, risk management copilots, and on-chain AI assistants [3] Companies and Projects Mentioned - @Almanak__ is speculated to be developing a perp trading agent with vaults earning 25%+ yield on alUSD deposits [1] - @AIWayfinder is developing a Hyperliquid trader agent [1] - @Symp_AI's trading terminal is live with over $130 million in volume [3]

Who’s building an AI Agent for Perps?I want something I can:1) Deposit capital2) Select a risk profile, and;3) Let it trade across Hyperliquid, Aster and Lighter.Triple dip on three potential airdrops. ...