With a trading volume exceeding 515 millions, can Limitless become the top player in the prediction market?

Limitless is a high-frequency, short-term trading ecosystem, more akin to Deribit or Binance than Polymarket, but operates entirely on-chain.

Written by: Stacy Muur

Translated by: AididiaoJP, Foresight News

@trylimitless remains one of the most serious attempts to transform prediction markets into a trading economy—an area long promised in crypto but rarely executed at scale.

Since its launch on Base, Limitless has processed over $515 million in cumulative trading volume, with traders earning daily rewards for providing liquidity within the order book. The protocol itself has generated approximately $1.9 million in annualized fees and about $600,000 in annualized revenue.

This is higher throughput than most neutral DEXs, indicating that on-chain speculation has found its product-market fit.

Built by veterans from trading and DeFi, Limitless combines a central limit order book with full on-chain settlement, allowing users to speculate on outcomes like “Will BTC close above $65,000?” with professional-grade execution, rather than the clunky AMM user experience that hampered early prediction markets.

Core Concepts

Prediction markets are more like trading, not gambling.

Limitless gives them this form: order books, depth, spreads, leaderboards, and incentives, while keeping everything transparently on Base. Each market is essentially a fully on-chain-settled binary options contract. This design allows users to:

• Trade hourly, daily, and weekly events
• Provide limit orders and earn liquidity rewards
• Earn points and leaderboard bonuses (Season 2 is ongoing, until January 26)

The result? A high-frequency, short-term trading ecosystem that feels more like Deribit or Binance than Polymarket, but operates entirely on-chain.

Framework

Product Score: 8.3 / 10

Limitless is live on Base mainnet, offering full on-chain CLOB trading, and has confirmed plans to expand to BNB Chain.

Dune data shows clear user growth:

Total notional value exceeds $515 million, with 1.18 million monthly trades and about 39,000 monthly active traders. With 1-minute (UTC+8) starts, rapid settlement, and on-chain clearing, Limitless has achieved true product-market fit in a sector long stuck in the experimental stage.

Tokenomics Score: 6.2 / 10

Launch & Sale

TGE on October 22, 2025 (UTC+8) via @KaitoAI Launchpad (20 million LMTS issued @ $0.05 → about $75 million FDV).

Raised about $1 million, with committed investments of about $201 million (about 200x oversubscribed).

Token Supply

• Total supply: 1 billion LMTS
• Circulating at TGE: 13.16%
• Team: 25%
• Ecosystem: 24.37%
• Treasury: 13%
• Liquidity: 10%
• Kaito: 1.37%
• Echo: 1.26%

Kaito/Echo: 50% released at TGE; 50% released after 6 months.

Utility: Real-time staking for fee discounts + privileges; ecosystem rewards; and planned fee-funded buybacks aimed at returning trading value to holders. Governance features will be introduced later.

Market Performance

After reports that a team-controlled wallet deployed a “concentrated liquidity market maker” on Aerodrome, post-launch volatility was extreme (maximum drawdown -58%).

The team confirmed the tokens remain locked and the wallet was used to stabilize price, not to dump inventory, but the incident shook confidence. Subsequent on-chain buybacks helped restore trust.

Key point: Well-structured and clear utility, but credibility must be rebuilt through transparent market making and buyback disclosures.

Backers & Ecosystem Score: 9.0 / 10

$10 million seed round (October 2025, UTC+8) led by 1confirmation, with participation from F-Prime, DCG, Coinbase Ventures, Arrington Capital, Maelstrom (Arthur Hayes), Collider, Paper, Node, WAGMI.

Limitless is natively built on Base, benefits from Coinbase, has real-time liquidity on Aerodrome, and has conducted airdrops via Wallchain Epochs and Atlantis World.

Deployment on BNB Chain extends its reach to new user groups.

Attractiveness Score: 8.3 / 10

• $515 million in cumulative trading volume
• $109 million monthly for two consecutive months
• 1.18 million monthly trades / 39,000 active monthly traders
• 1.1 million TGE topic post views

These figures place Limitless among the best-performing on-chain exchanges in terms of activity, which is rare for prediction markets.

Community & Narrative Score: 7.0 / 10

Limitless has built a trader-focused community centered around leaderboards and seasons, rather than memes.

Sentiment dipped after the market maker wallet incident, but rebounded as the team disclosed wallet activity and buyback plans.

In the speculative finance movement, narrative heat remains strong, and “event perpetual contracts” are becoming the next wave of on-chain speculation.

Market Context Score Adjustment: +0.3

The macro environment leans risk-on (Greed Index ≈ 70); Base continues to attract liquidity; the narrative for prediction markets is accelerating.

The track Limitless is in is less crowded than Polymarket or Kalshi, targeting high-frequency trading rather than macro bets.

Investment Thesis

• Real product, real revenue, over $515 million in trading volume and visible fee flows
• Architectural advantage: first on-chain CLOB prediction exchange to achieve scale
• Tier-1 backers: 1confirmation, F-Prime, DCG, Coinbase Ventures, Arrington
• Token flywheel potential: staking + buybacks link trading to token demand
• Network expansion: Base + BNB → cross-ecosystem liquidity

Execution Watchpoints

• Publish clear market making policies (wallets, parameters, reporting cycles).
• Automate and disclose fee buybacks to verify value capture.
• Ensure first CEX listing and increase depth to reduce price swings.

Total score is 7.78 / 10. Limitless is a real-time, revenue-generating prediction exchange with top-tier backers and a transparent product. The current task is to prove its tokenomics can match its trading volume.

If the team restores confidence through ongoing on-chain disclosures and maintains its monthly run rate above $100 million, Limitless will not only make prediction markets work, but also make them liquid.