In the Perp DEX sector, a rare situation has emerged: two prominent projects—edgeX and Lighter—are preparing for their TGE but are taking completely different paths. Korean trader Masil conducted a detailed comparison of their key parameters and concluded that, aside from belonging to the same sector, they share almost no similarities. Such divergent development is uncommon and creates different market perceptions of the projects.
Introduction
Both projects are preparing for their TGE procedures, yet their development strategies are opposite in several key areas. This article consolidates differences in investments, listings, tokenomics, marketing, approaches to meme tokens, and geographic interest. The comparison is based on community observations and facts highlighted in public discussions.
Venture Investments
The first notable difference is their approach to venture capital. edgeX deliberately declined VC funding, despite interest from major companies, making the project more autonomous in its financing structure. In contrast, Lighter attracted funds from well-known market players, including Coinbase and Robinhood, giving it a more institutional profile in investors' eyes.
Token Listings
The projects also differ in their token listing strategies: edgeX developers, according to community expectations, plan to limit listings to their own platform, similar to Aster or Hyperliquid. For general practices on centralized exchange listings, see materials on exchange listings. Meanwhile, Lighter is considered a candidate for listings on major centralized exchanges and has already appeared on Binance's pre-market.
Tokenomics
There are clear differences in tokenomics as well: edgeX offers fees lower than Hyperliquid, betting on competitive trading costs for platform users. Lighter went further and completely eliminated fees—this move became one of the project's key marketing advantages and influences perceptions of its economic model.
Marketing Strategies
In marketing, edgeX focuses on liquidity and a mobile app, aiming for convenient trading within its ecosystem. Lighter emphasizes its zk-model and zero fees, positioning itself as a technologically advanced and trader-friendly project.
Meme Tokens
The projects took different approaches to meme tokens: edgeX has already launched its own meme project, MARU, which is actively discussed in the community. Lighter considered a similar step but ultimately decided against launching a meme token, maintaining focus on its core product model.
Geographic Interest
The geographic interest differs: edgeX is mainly popular in Japan, South Korea, and China, while Lighter is actively discussed in English-speaking communities. Korean retail traders generally have a more optimistic view of Lighter, calling it a leader among Perp DEX projects with a valuation estimated between $7 billion and $10 billion.
Why This Matters
If you mine or follow the crypto instruments market, understanding the differences between edgeX and Lighter helps identify which products and ecosystems may be more retail- or institution-oriented. For users, this is important when choosing trading platforms and token storage, as well as assessing risks related to liquidity and listings. Additionally, geographic interest and marketing strategies influence community accessibility and local activity around the projects.
What to Do?
- Follow official project announcements and TGE news to avoid missing listing and token distribution details.
- Evaluate fees and trading models: for frequent trades, compare costs on edgeX versus Lighter’s zero fees.
- Consider risk profiles: VC-backed projects with exchange listings have different market expectations than independent ecosystems.
- If local support and community matter, consider the projects’ geographic interest when choosing a platform for interaction or investment.
Useful Links
For more context on discussions around edgeX, check out the material on ZachXBT’s accusations, which thoroughly analyzes sector disputes. To understand listing practices and related myths, see the article on exchange listings.