Lighter has emerged as the leader in the on-chain Real World Asset (RWA) derivatives market, with an open interest (OI) of $280 million, accounting for 16% of the platform's total holdings. Over the past month, Lighter's market share in RWA derivatives has surged from 29% to nearly 50%. Meanwhile, Hyperliquid has increased its market share from 15% to 30%, bolstered by the HIP-3 market. Despite Ostium maintaining a significant share earlier this year, it is now losing its leading position. The growth of Lighter and Hyperliquid has contributed to an increase in RWA OI from $384 million to $607 million, enhancing market liquidity.