Luka the Dev
575 posts

Luka the Dev
@luka_bpsdev
Catalytic converter enthusiast - @epic_edge_ and @kaiserkinbote take legal responsibility for all of my posts



Devil’s advocate: hyperliquid will have competition for the first time ever. If they get past this on top, $500. If not, commoditised.



So its been almost a week after ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 launched on Robinhood Chain and I was curious how they were doing. Their 24h volume numbers don't look bad. My sampling of their API shows 1.44M of notional volume on their perps dex, mostly in RWA perps. Where this 1.44M volume is coming from is what is concerning. These trades are almost exclusively Lighter's maker desk and protocol pool trading between each other. Almost 100% of the trades in the top 2 markets were just this. Just back and forth trading between internal accounts. Left pocket to right pocket.





So its been almost a week after ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 launched on Robinhood Chain and I was curious how they were doing. Their 24h volume numbers don't look bad. My sampling of their API shows 1.44M of notional volume on their perps dex, mostly in RWA perps. Where this 1.44M volume is coming from is what is concerning. These trades are almost exclusively Lighter's maker desk and protocol pool trading between each other. Almost 100% of the trades in the top 2 markets were just this. Just back and forth trading between internal accounts. Left pocket to right pocket.




















