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At the end of the year, EdgeX made a huge move, announcing a three-month delay to its TGE (Tencent's Gemstone Token) launch.
Perp's current predicament is:
1) Without issuing tokens, no one uses it.
2) Even after launching its token, no one uses it.
3) Whichever launches their token first, EdgeX or Lighter, will see funds and trading volume flow to the other.
4) Pre-market market capitalization is inflated by OTC prices.
After delaying its token launch, EdgeX symbolically pumped up the price of Maru (EdgeX's token).

The remaining two are pretty weak.
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