I was thinking — what could @Lighter_xyz’s FDV be at launch? So I used a simple model based on Hyperliquid’s FDV/TVL ratio. • Hyperliquid:  • TVL: $3.67B  • FDV: $37.86B  • FDV/TVL ≈ 10.31x • Lighter:  • TVL: $141.76M (Closed Beta)  • Implied FDV: ~$1.46B If Lighter launches at a similar valuation multiple, we’re looking at a ~ $1.46B FDV. If it's ~ 1.46B FDV at launch, how much would 1 point be? Anyways, NFA, just some simple modeling for fun! Sources: • Hyperliquid Bridged USDC TVL: • Hyperliquid FDV: • Lighter USDC TVL: