Lighter XYZ has initiated its public mainnet, launching a zero-fee perpetual decentralized exchange settled on Ethereum, as confirmed by crypto strategist Jordi Alexander on October 2, 2025.
The launch has significant implications for Ethereum trading volumes and offers new opportunities for traders seeking fee-free perpetual exchanges.
Zero-Fee Perp DEX on Ethereum Mainnet Launched
Lighter XYZ’s launch of its public mainnet marks the debut of a zero-fee, Ethereum-settled perpetual DEX. This development establishes a unique position in the crypto space, leveraging a first-principles design approach.
Led by Jordi Alexander, known for DeFi expertise, the project gains traction as a major player in the perpetual DEX sector. Its commitment to substance over hype is acknowledged by the community. As Jordi Alexander, Crypto Strategist, Selini Capital, notes, “The team is adding features at an appropriate cadence and is one of the few in the perp DEX category that backs hype with substance.”
ETH Trading Volumes Likely to Surge Post-Launch
The launch is expected to significantly affect ETH trading volumes as the primary settlement asset. The zero-fee model may entice traders seeking cost-efficient perpetual trading solutions.
Potential impacts include spikes in TVL and liquidity, driven by traders shifting to leverage the DEX’s economic advantages. Past launches suggest such moves often lead to increased trader activities and market share shifts.
dYdX, GMX Analogues Offer Context for Expected Impact
Similar launches, like dYdX and GMX, have seen rapid user growth and TVL increases. With ETH as the primary focus, secondary tokens also experience heightened activity.
Experts note that trading dynamics might reflect past DEX launches, with potential volatility and arbitrage opportunities. Insights highlight strategic advantages for Ethereum, catalyzing further adoption.
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