⚡️I took a look, and the market generally has hope for the opening valuation of @Lighter_xyz —

It is generally believed that 1 point = 70u is the fair value, and the actual cost of early scoring is between 1-3u, which should be another single currency A7 project!

According to data from DeFiLlama, the Lighter spot side has accumulated approximately $32.33 million in WETH value, leading other similar DEXs in on-chain RWA.

Therefore, some voices believe that Lighter and Hyperliquid are not the same type of product, and as large distribution channels, they should have a higher valuation ceiling. The given valuation range is for reference only—

📌Bear Market Range (1.5 billion – 4.2 billion USD FDV)

If the price fluctuates after the TGE, it can be regarded as an "opportunity zone". Because TVL and trading volume are factual, but FDV will not be overly exaggerated.

📌Benchmark Range (4.2 billion – 7.5 billion USD FDV)

If Lighter can stabilize the TVL and continue to operate at a leading scale, this range can be seen as fair value. Moreover, subsequent roadmaps such as RWA and spot expansion will raise the ceiling.

📌Bull Market Range (75 billion – 125 billion USD+ FDV)

This is an interval where "the catalyst has become consensus." If achieved, it means that the momentum of RWA can no longer be ignored, and the distribution narrative will become mainstream.

I feel a bit optimistic; the price after the TGE may fluctuate around the "lower bound of the benchmark range." It seems more reasonable to cut the valuation by one third?

How many points do you all have? Quickly tell me so I can envy you a bit!