Main Highlights
- Lighter is a decentralized perpetual trading exchange operating as a ZK rollup on Ethereum L2, offering zero fees and low latency trading.
- It utilizes custom zero-knowledge circuits for verifiable order matching and liquidations, combining CEX speed with DeFi transparency.
- The Lighter Points Program rewards traders, liquidity providers, and referrers, with points distributed weekly and potentially leading to an airdrop after TGE.
- Two account types are available: Free (0% maker/taker fees) and Premium (0.002% maker / 0.02% taker fees).
- All smart contracts and ZK circuits have been audited by Nethermind.
Lighter is a novel decentralized perpetual trading exchange designed for trading perpetuals with zero fees and exceptionally low latency on Ethereum Layer 2 networks. 💡 It leverages custom zero-knowledge circuits to provide verifiable order matching and liquidations, effectively merging the high speed of centralized exchanges (CEXs) with the transparency inherent in decentralized finance (DeFi).
The platform is currently running the Lighter Points Program, which actively rewards participants, including traders, liquidity providers, and referrers, for their engagement and meaningful actions on the exchange. 📌 Points are systematically distributed every Friday and maintain a transparent record of each user’s participation. This system is designed to potentially lead to an airdrop of tokens following the Token Generation Event (TGE).
About Lighter Exchange
Operating as a ZK rollup on Ethereum L2, Lighter ensures that every order placed and liquidation executed is cryptographically proven on-chain. ⚡️ This architecture enables millisecond execution speeds, facilitating high-frequency trading while maintaining complete transparency of all actions through an integrated Block Explorer.
Lighter offers users two distinct account types to cater to different trading preferences and strategies:
- Free Account: Features 0% maker fees and 0% taker fees, providing a cost-effective option for many traders.
- Premium Account: Offers a maker fee of 0.002% and a taker fee of 0.02%.
The exchange exclusively supports deposits and withdrawals using native $USDC. This functionality is available across multiple networks, including Ethereum, Arbitrum, Base, and Avalanche C-Chain. A minimum deposit of 5 USDC is required to begin trading. ✅
Further bolstering user confidence, all smart contracts and ZK circuits employed by Lighter have undergone thorough audits by Nethermind. You can find more details on their security measures on their documentation.
Liquidity and Trading Strategies
Liquidity on the Lighter platform is primarily driven by the Lighter Liquidity Provider (LLP) pool. Users who contribute to this pool are rewarded through funding rates. 📊 Additionally, Public Pools allow any user to join or establish on-chain trading strategies, such as Delta-Neutral or BTC-vs-ALTS pairings. These strategies are tracked with real-time Annual Percentage Rates (APR) and Sharpe ratios, offering clear performance metrics. 📍
Fundfa Insight
Lighter’s approach addresses key challenges in DeFi trading by offering CEX-like performance with enhanced transparency, underpinned by advanced zero-knowledge technology. The Lighter Points Program provides an accessible entry point for users to engage with the platform and potentially benefit from future token distributions.