On-chain perpetual DEX Lighter has made a major move: Founder Vladimir Novakovski confirmed on a Q3 call that it will apply for a derivatives license with the U.S. CFTC in November, aiming to become the first on-chain perpetual futures DEX to secure a CFTC license—and it has already spent nearly a year working through the process with regulators. After the news broke, LIT surged 22.26% in 24 hours to $3.89, according to OKX market data. A 10/20 report from Delphi Digital also singled it out as the clearest second pick, with $56 billion in 30-day trading volume versus Hyperliquid’s $203 billion. If the compliance route succeeds, U.S. institutions will feel confident enough to enter the market. #DeFi #PerpetualContracts