Rancune(@Rancune_eth):𝗟𝗜𝗚𝗛𝗧𝗘𝗥 $𝗟𝗜𝗧 𝗺𝗼𝗼𝗻 𝗺𝗮𝘁𝗵 As it appears, people love selling their ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 bags. I wonder they realize what they're even selling. Let me tell you. A US company below $1b market cap that is very likely to be the engine of many US perps exchanges, most notably Robin Hood.Even though I'm still buying, allow me to do some moon math on a lazy sunday afternoon. As I said before, Lighter is undervalued based on both volume & revenue against its peers but I'm leaving that out of scope for this model. 𝗦𝗵𝗮𝗿𝗲𝗱 𝗮𝘀𝘀𝘂𝗺𝗽𝘁𝗶𝗼𝗻𝘀: - Perps get approved in US - Robin Hood uses Lighter as engine in their app - HYPE revenue multiple 23,92x - Fee share 50/50, 1.2bps total (current) so 0.6 bps for Lighter - U.S. monthly active users 12,69M - 14.1m active users, share US = 90% 𝗢𝘂𝘁 𝗼𝗳 𝘀𝗰𝗼𝗽𝗲: - Better monitization - Growing the pie (Robin Hood users grow) - Other integrations outside of Robin Hood - Lighter launching options - Growth Lighter platform on chain Note from me: 𝘐 𝘳𝘦𝘢𝘭𝘭𝘺 𝘵𝘳𝘪𝘦𝘥 𝘵𝘰 𝘥𝘰 𝘶𝘯𝘳𝘦𝘢𝘭𝘪𝘴𝘵𝘪𝘤 𝘮𝘰𝘰𝘯 𝘮𝘢𝘵𝘩, 𝘣𝘶𝘵 𝘵𝘩𝘢𝘵 𝘫𝘶𝘴𝘵 𝘪𝘴𝘯'𝘵 𝘮𝘦. 𝘐 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘥𝘰 𝘳𝘦𝘢𝘭𝘪𝘴𝘵𝘪𝘤. 𝘈𝘯𝘥 𝘵𝘩𝘦𝘴𝘦 𝘯𝘶𝘮𝘣𝘦𝘳𝘴 𝘢𝘳𝘦 𝘳𝘦𝘢𝘭𝘭𝘺 𝘤𝘰𝘯𝘴𝘦𝘳𝘷𝘢𝘵𝘪𝘷𝘦, 𝘢𝘴 𝘐 𝘭𝘪𝘬𝘦 𝘵𝘰 𝘶𝘯𝘥𝘦𝘳𝘱𝘳𝘰𝘮𝘪𝘴𝘦 𝘢𝘯𝘥 𝘰𝘷𝘦𝘳𝘥𝘦𝘭𝘪𝘷𝘦𝘳. 𝘐 𝘥𝘪𝘥𝘯'𝘵 𝘦𝘷𝘦𝘯 𝘶𝘴𝘦 𝘤𝘪𝘳𝘤𝘶𝘭𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘳𝘬𝘦𝘵 𝘤𝘢𝘱, 𝘣𝘶𝘵 𝘢 % 𝘰𝘧 𝘍𝘋𝘝. 𝘐 𝘶𝘴𝘦𝘥 𝘵𝘩𝘦 𝘳𝘦𝘷𝘦𝘯𝘶𝘦 𝘮𝘶𝘭𝘵𝘪𝘱𝘭𝘦 𝘸𝘩𝘪𝘤𝘩 𝘪𝘴 𝘯𝘰𝘵 𝘓𝘪𝘨𝘩𝘵𝘦𝘳𝘴 𝘣𝘦𝘴𝘵 𝘮𝘦𝘵𝘳𝘪𝘤. What this table says, is that when Lighter gets integrated in the Robin Hood app (just that, really), would run ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 to a $44 token price. Even considered a substantial increase in supply (125M) which will happen in 𝘀𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 2027. I expect the unlocks to be okay too, given the nature of the investors (Thiel, Sacks, Robin Hood) who are not jeet crypto VC's who are hammering the sell button before the unlock (Thiel made $3292033029 gigillion SPCX, you really think he's gonna sell asap to recoup initials in the most pro-crypto US administration ever? Just a Robin Hood app integration on perps. No options. No other platforms. Just a base case. Note: I hold ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 but am not paid by them. Be safe, use my ref:

2026.09.13 12:45

𝗟𝗜𝗚𝗛𝗧𝗘𝗥 $𝗟𝗜𝗧 𝗺𝗼𝗼𝗻 𝗺𝗮𝘁𝗵 As it appears, people love selling their ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 bags. I wonder they realize what they're even selling. Let me tell you. A US company below $1b market cap that is very likely to be the engine of many US perps exchanges, most notably Robin Hood.Even though I'm still buying, allow me to do some moon math on a lazy sunday afternoon. As I said before, Lighter is undervalued based on both volume & revenue against its peers but I'm leaving that out of scope for this model. 𝗦𝗵𝗮𝗿𝗲𝗱 𝗮𝘀𝘀𝘂𝗺𝗽𝘁𝗶𝗼𝗻𝘀: - Perps get approved in US - Robin Hood uses Lighter as engine in their app - HYPE revenue multiple 23,92x - Fee share 50/50, 1.2bps total (current) so 0.6 bps for Lighter - U.S. monthly active users 12,69M - 14.1m active users, share US = 90% 𝗢𝘂𝘁 𝗼𝗳 𝘀𝗰𝗼𝗽𝗲: - Better monitization - Growing the pie (Robin Hood users grow) - Other integrations outside of Robin Hood - Lighter launching options - Growth Lighter platform on chain Note from me: 𝘐 𝘳𝘦𝘢𝘭𝘭𝘺 𝘵𝘳𝘪𝘦𝘥 𝘵𝘰 𝘥𝘰 𝘶𝘯𝘳𝘦𝘢𝘭𝘪𝘴𝘵𝘪𝘤 𝘮𝘰𝘰𝘯 𝘮𝘢𝘵𝘩, 𝘣𝘶𝘵 𝘵𝘩𝘢𝘵 𝘫𝘶𝘴𝘵 𝘪𝘴𝘯'𝘵 𝘮𝘦. 𝘐 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘥𝘰 𝘳𝘦𝘢𝘭𝘪𝘴𝘵𝘪𝘤. 𝘈𝘯𝘥 𝘵𝘩𝘦𝘴𝘦 𝘯𝘶𝘮𝘣𝘦𝘳𝘴 𝘢𝘳𝘦 𝘳𝘦𝘢𝘭𝘭𝘺 𝘤𝘰𝘯𝘴𝘦𝘳𝘷𝘢𝘵𝘪𝘷𝘦, 𝘢𝘴 𝘐 𝘭𝘪𝘬𝘦 𝘵𝘰 𝘶𝘯𝘥𝘦𝘳𝘱𝘳𝘰𝘮𝘪𝘴𝘦 𝘢𝘯𝘥 𝘰𝘷𝘦𝘳𝘥𝘦𝘭𝘪𝘷𝘦𝘳. 𝘐 𝘥𝘪𝘥𝘯'𝘵 𝘦𝘷𝘦𝘯 𝘶𝘴𝘦 𝘤𝘪𝘳𝘤𝘶𝘭𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘳𝘬𝘦𝘵 𝘤𝘢𝘱, 𝘣𝘶𝘵 𝘢 % 𝘰𝘧 𝘍𝘋𝘝. 𝘐 𝘶𝘴𝘦𝘥 𝘵𝘩𝘦 𝘳𝘦𝘷𝘦𝘯𝘶𝘦 𝘮𝘶𝘭𝘵𝘪𝘱𝘭𝘦 𝘸𝘩𝘪𝘤𝘩 𝘪𝘴 𝘯𝘰𝘵 𝘓𝘪𝘨𝘩𝘵𝘦𝘳𝘴 𝘣𝘦𝘴𝘵 𝘮𝘦𝘵𝘳𝘪𝘤. What this table says, is that when Lighter gets integrated in the Robin Hood app (just that, really), would run ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 to a $44 token price. Even considered a substantial increase in supply (125M) which will happen in 𝘀𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 2027. I expect the unlocks to be okay too, given the nature of the investors (Thiel, Sacks, Robin Hood) who are not jeet crypto VC's who are hammering the sell button before the unlock (Thiel made $3292033029 gigillion SPCX, you really think he's gonna sell asap to recoup initials in the most pro-crypto US administration ever? Just a Robin Hood app integration on perps. No options. No other platforms. Just a base case. Note: I hold ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 but am not paid by them. Be safe, use my ref:

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