Lighter, a Perp DEX, shows significant 24hr volume at $4.31 billion but a low Open Interest (OI) to Volume ratio of 29%, indicating it is likely a pre-TGE (Token Generation Event) project. If Lighter launches a token, it could present a strong investment opportunity due to its high trading activity relative to its current market cap/OI. Keep an eye on Lighter for potential token launch announcements.