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Project Overview
Lighter is a perpetual trading protocol that introduces a scalable, secure, transparent, non-custodial, and verifiable order book trading infrastructure within the Ethereum ecosystem. As an application-specific zk-rollup, it employs advanced cryptographic techniques and data structures. Lighter significantly improves the security and fairness of order book trading with its verifiable matching engine, ensuring scalable and efficient market price discovery. Thus, Lighter lays the groundwork for creating new, high-performance, and secure digital trading platforms.
Lighter Founder: All Economic Value of Lighter Will Flow to the Token, with the Equity Structure Converted to a Token Structure at TGE
Lighter founder Vladimir Novakovski published an article on X this morning titled "Equity and Tokens."In the article, Novakovski clarified that all economic value generated by Lighter will belong to token holders.Lighter's original intention has always been to use venture capital to bootstrap the project until the moment of token issuance. Lighter is a U.S. company and exists as a single entity — the entity that issued equity in the years leading up to TGE is the same entity that issued tokens at TGE. Apart from converting to a token cap table at TGE, the equity cap table will have no further function in the future.More specifically, Lighter completed its final equity financing round a few months before TGE, which was oversubscribed by approximately 5 times, attracting over $300 million in capital interest against a $68 million allocation. At that time, all equity stakeholders (including early investors and former employees) were informed of the future plan — that their equity value would only be reflected as holdings on the token cap table — and were given the opportunity to sell their equity stakes. Anyone who disagreed with the philosophy that "all value belongs to the token" could easily exit at a higher valuation. Ultimately, less than 1% of equity holders chose to sell their shares, while the rest chose to stay, thereby supporting Lighter's commitment to "value accruing to the token."
Fun Raises $72 Million in Series A Funding, Led by Multicoin Capital and SignalFire
According to Fortune, payments infrastructure startup Fun has announced a $72 million Series A funding round, co-led by Multicoin Capital and SignalFire, with participation from Infinity Ventures, Pharsalus Capital, and Justin Mateen, co-founder of Tinder. Fun primarily provides cryptocurrency and fiat deposit/withdrawal infrastructure for platforms such as Polymarket, Lighter, and Aave, processing over $18 billion in annual payments. The company plans to use the new funds to expand its team of approximately 30 people.
Lighter Founder Appointed to CFTC Innovation Advisory Committee
Odaily Odaily: Lighter founder and CEO Vladimir Novakovski posted on X: "As the United States celebrates its 250th anniversary, I am proud to have been building Lighter here from the very beginning. This year, I have also started doing my small part — serving as a member of the Commodity Futures Trading Commission (CFTC) Innovation Advisory Committee."Odaily Note: The Innovation Advisory Committee was established to advise the CFTC on complex issues at the intersection of technology, law, policy, and finance.
Robinhood Chain Mainnet Launches, Simultaneously Introducing Tokenized Stocks, Perpetual Contracts, and AI Agent Trading
Robinhood has announced the official launch of the public mainnet for its proprietary Layer 2 network, Robinhood Chain. Built on the Arbitrum technology stack, the chain is positioned as an institution-grade, permissionless, AI-native network specifically designed for Real World Assets (RWA).Robinhood Chain's launch partners include Uniswap, Pleiades, Alchemy, BitGo, and Chainlink. Among them, Uniswap will deploy a dedicated AMM on the chain as the primary public liquidity protocol, while Pleiades will deploy its own AMM as the primary proprietary trading venue. The chain will also offer basic DeFi functionalities such as lending.Eligible users can trade tokenized stocks 24/7 on Robinhood Chain. Simultaneously, Robinhood Earn will introduce USDG-based decentralized lending products within the main app. In certain jurisdictions, the new version of Robinhood Wallet will also support access to Lighter's perpetual contract trading.Robinhood also announced the expansion of its European perpetual contract product range, its official entry into the Canadian market, and the acquisition of a Singapore Capital Markets Services license. Furthermore, Agentic Accounts for crypto trading are planned to begin rolling out in the US soon, allowing AI agents to participate in trading and fund management.Robinhood stated that this update represents its most ambitious global expansion and product vision to date, with the goal of establishing a more direct connection between traditional finance and DeFi, integrating stocks, crypto, RWA, perpetual contracts, and AI trading into a unified financial experience. (The Block)
Bankless founder: Regrets not buying more LIT
Bankless founder David Hoffman posted on X, expressing regret for not buying more Lighter (LIT).Hoffman explained that the logic behind investing in Lighter is simple:1. Exchanges have always been the best business model in the crypto industry;2. Perpetual contracts are still a brand-new track, far from reaching maturity;3. Building an exchange based on zkL2 is currently the structurally optimal solution, offering high security, low operating costs, and high profit margins;4. The product itself is also the strongest on the market, with the lowest latency, the lowest execution costs, and full transparency;5. The engineering team is highly capable, having solved all the technical challenges;6. The company is headquartered in the United States, operates in compliance, and this market remains a largely untapped blue ocean;7. It also serves as an option betting on the "Tokenization of compliant assets";8. Founder Vlad is in the right circles, knows the right people, and has the ambition to do great things.
An institution transferred approximately $7.83 million worth of LIT from a centralized exchange to Lighter
According to Onchain Lens monitoring, an institution deposited 3.35 million LIT into Lighter, valued at approximately $7.83 million. These tokens were withdrawn from centralized exchanges within the past week, including 2.92 million LIT from OKX and 468,620 LIT from Bitstamp.
Lighter team wallet transfers 1.87 million LIT to new address
According to on-chain analyst The Data Nerd (@OnchainDataNerd), the Lighter team wallet transferred 1.87 million LIT (worth approximately $4.57 million) to a new address, possibly for routine treasury management operations.
Lighter team address transferred 1.87 million LIT, worth approximately $4.57 million.
According to on-chain analyst Onchain Lens, a wallet associated with the Lighter team transferred 1.87 million LIT to a new address, valued at approximately $4.57 million at current prices.
2 months, spent $9.1 million, Ethereum OG whale buys 3.91 million LIT
that, according to Lookonchain monitoring, Ethereum OG whale (0x7378...1ca6) has been continuously buying LIT. Over the past 2 months, this whale has spent a total of $9.1 million to purchase 3.91 million LIT, with an average price of $2.33.
A whale with historical profits exceeding $38.75 million went heavily long on ZEC and LIT after months of silence, with a total position value of approximately $10.99 million.
According to on-chain analyst Onchain Lens (@OnchainLens), a whale wallet with historical cumulative profits exceeding $38.75 million has reactivated after months of silence. Several hours ago, it deposited $892,000 USDC into Hyperliquid and staked HYPE, then opened two long positions: 14,290 ZEC (approximately $7.01 million, 10x leverage) and 1.62 million LIT (approximately $3.98 million, 5x leverage), with a total position size of approximately $10.99 million. Additionally, the wallet has placed limit orders planning to buy another 10,032 LIT.
A whale has consolidated approximately $5.85 million worth of HYPE and LIT into a single wallet
Odaily reports, according to Onchain Lens monitoring, a whale has consolidated approximately $5.85 million worth of HYPE and LIT into a single wallet, possibly accumulated via Galaxy Digital, including 78,100 HYPE worth $5.25 million and 263,700 LIT worth $601,000.
Lighter Founder: All Economic Value of Lighter Will Flow to the Token, with the Equity Structure Converted to a Token Structure at TGE
Lighter founder Vladimir Novakovski published an article on X this morning titled "Equity and Tokens."In the article, Novakovski clarified that all economic value generated by Lighter will belong to token holders.Lighter's original intention has always been to use venture capital to bootstrap the project until the moment of token issuance. Lighter is a U.S. company and exists as a single entity — the entity that issued equity in the years leading up to TGE is the same entity that issued tokens at TGE. Apart from converting to a token cap table at TGE, the equity cap table will have no further function in the future.More specifically, Lighter completed its final equity financing round a few months before TGE, which was oversubscribed by approximately 5 times, attracting over $300 million in capital interest against a $68 million allocation. At that time, all equity stakeholders (including early investors and former employees) were informed of the future plan — that their equity value would only be reflected as holdings on the token cap table — and were given the opportunity to sell their equity stakes. Anyone who disagreed with the philosophy that "all value belongs to the token" could easily exit at a higher valuation. Ultimately, less than 1% of equity holders chose to sell their shares, while the rest chose to stay, thereby supporting Lighter's commitment to "value accruing to the token."
Lighter has been integrated into Robinhood Wallet, allowing users to trade perpetual contracts directly through the wallet.
Lighter officially announced on X that Lighter has now been integrated into Robinhood Wallet. Through this wallet, users can access native in-app perpetual contracts and tokenized stock trading supported by Lighter, and use USDG as the base quote asset.
Robinhood Chain Mainnet Launches, Simultaneously Introducing Tokenized Stocks, Perpetual Contracts, and AI Agent Trading
Robinhood has announced the official launch of the public mainnet for its proprietary Layer 2 network, Robinhood Chain. Built on the Arbitrum technology stack, the chain is positioned as an institution-grade, permissionless, AI-native network specifically designed for Real World Assets (RWA).Robinhood Chain's launch partners include Uniswap, Pleiades, Alchemy, BitGo, and Chainlink. Among them, Uniswap will deploy a dedicated AMM on the chain as the primary public liquidity protocol, while Pleiades will deploy its own AMM as the primary proprietary trading venue. The chain will also offer basic DeFi functionalities such as lending.Eligible users can trade tokenized stocks 24/7 on Robinhood Chain. Simultaneously, Robinhood Earn will introduce USDG-based decentralized lending products within the main app. In certain jurisdictions, the new version of Robinhood Wallet will also support access to Lighter's perpetual contract trading.Robinhood also announced the expansion of its European perpetual contract product range, its official entry into the Canadian market, and the acquisition of a Singapore Capital Markets Services license. Furthermore, Agentic Accounts for crypto trading are planned to begin rolling out in the US soon, allowing AI agents to participate in trading and fund management.Robinhood stated that this update represents its most ambitious global expansion and product vision to date, with the goal of establishing a more direct connection between traditional finance and DeFi, integrating stocks, crypto, RWA, perpetual contracts, and AI trading into a unified financial experience. (The Block)
Upbit to List Multiple Tokens, Including PEAQ and LIT, on BTC and USDT Markets
According to an official announcement, South Korean crypto exchange Upbit will list the PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, and AMP tokens on its BTC and USDT markets. Trading for these tokens will begin at 3:00 PM local time on June 19.
Lighter updates buyback data: Over 15 million LIT repurchased, accounting for 6% of circulating supply
Lighter official posted on X updating the protocol's buyback data, indicating that since TGE, over 15 million LIT tokens have been repurchased, representing approximately 6% of the circulating supply.
Lighter Completes L2 "Escape Mechanism" Verification, Enabling Users to Withdraw to Mainnet Despite Sequencer Failures
Lighter officially announced on X that the "escape mechanism" verification conducted by third-party auditor L2BEAT has been completed. This means that even if the sequencer on the L2 layer malfunctions, users can permissionlessly withdraw funds from Lighter's L2 back to Ethereum, making Lighter the industry's first L2 Perp DEX to achieve this functionality.
Related news
An institution transferred approximately $7.83 million worth of LIT from a centralized exchange to Lighter
According to Onchain Lens monitoring, an institution deposited 3.35 million LIT into Lighter, valued at approximately $7.83 million. These tokens were withdrawn from centralized exchanges within the past week, including 2.92 million LIT from OKX and 468,620 LIT from Bitstamp.
Lighter partners with Robinhood Wallet to launch points program, expected to distribute 11 million LIT tokens
Odaily News: Lighter officially announced that it has partnered with Robinhood Wallet to launch a points program.Although Lighter has not explicitly stated the use of the points, community users have discovered that Robinhood Wallet documentation indicates Lighter has committed to allocating 11 million LIT tokens to the Robinhood community.
Lighter team wallet transfers 1.87 million LIT to new address
According to on-chain analyst The Data Nerd (@OnchainDataNerd), the Lighter team wallet transferred 1.87 million LIT (worth approximately $4.57 million) to a new address, possibly for routine treasury management operations.
Lighter team address transferred 1.87 million LIT, worth approximately $4.57 million.
According to on-chain analyst Onchain Lens, a wallet associated with the Lighter team transferred 1.87 million LIT to a new address, valued at approximately $4.57 million at current prices.
Ansem: Trading Will Become the Next Most Popular PvP Game, Tokenization Will Be as Common as Social Media Posts
Odaily News: Crypto investor Ansem stated that during the early stages of the 2023 cycle, Unibot drove the development of on-chain long-tail asset trading by combining trading terminals with tokens, reaching a market cap of $200 million at its peak. In the current cycle, we will see the emergence of multiple mobile-first social trading platforms. Trading will become one of the next generation's most popular PvP (player versus player) games.Ansem also believes that 24/7 perpetual contract trading for stocks and crypto assets will continue to attract retail attention, with Hyperliquid having already validated this trend through its HIP-3 stock product, and platforms like Lighter potentially benefiting as well. Additionally, he noted that Robinhood was the first platform to prove the viability of the "gamified trading" model, but no platform has yet truly captured the social aspect of trading.In the current cycle, Ansem said he is most interested in the unresolved problems within the "creator and attention economy." He mentioned that a large number of token projects hope to leverage creators with large followings for distribution and are willing to pay significant sums. However, this demand cannot be effectively supported by the ordinary Meme coin model. Therefore, his primary focus is on productizing this creator distribution demand and creating a model that can benefit token holders.
2 months, spent $9.1 million, Ethereum OG whale buys 3.91 million LIT
that, according to Lookonchain monitoring, Ethereum OG whale (0x7378...1ca6) has been continuously buying LIT. Over the past 2 months, this whale has spent a total of $9.1 million to purchase 3.91 million LIT, with an average price of $2.33.