Why can't Counterparty evolve to use lightning channels somehow? then there would no issue with fees, actions on DEX would be instant and there would be less unnecessary bloat and increased privacy with the DEX actions not being written into the blockchain.
I thought about this and it kind of removes the significance of something being recorded on the Bitcoin blockchain if its only actually recorded on LN. I think Blockstream Liquid allows for token creation, but again, its not really the same thing because there are no records of the transactions on the bitcoin blockchain, which is what makes it special in the first place.