2 years ago we had only GMX and dYdX. To open a position you were paying $2 in gas fees and when the market was moving and you wanted to close you had to pay $50-$300 to close it in gas. Hyperliquid quite literally changed the game and now this part of the market is getting traction. Lighter sitting daily at $2.5-3b volume (curious how will it be after TGE) shows that people don't want to miss on another perp DEX. Old ones don't perform as good as the new ones, so points are really doing it's job for them.