Lighter Airdrop

Problem Solved

Lighter seeks to address the trade-off between speed and trust in crypto exchanges by offering a purpose-built zk-rollup order book that provides CEX-like performance without sacrificing decentralization. It processes tens of thousands of orders per second with sub-second finality, tackling the scalability issues that have limited on-chain trading. Every trade match and liquidation is cryptographically proven and publicly verifiable, solving the fairness and transparency problems by ensuring no hidden manipulation or improper liquidations.

Tokenomics

Lighter has not launched a token yet. Instead it runs a points program for early users. The CEO has disclosed that ~50% of the future token supply is reserved for community rewards (with 25–30% allocated to Season 1 & 2 points airdrops). This implies a relatively decentralized distribution, as half the tokens would go to users (the remainder presumably for team, investors, and future incentives). The upcoming token can be expected to have multiple uses and a buyback mechanism.

Perspectives

Lighter's team exhibits a strong forward-looking mindset. By late 2025, the team plans to introduce spot trading and full cross-margin support so that spot assets can serve as collateral for futures. Further out, Lighter intends to offer real-world asset derivatives, options trading, and even dark pool features for private order execution. These expansions could position Lighter as a comprehensive on-chain trading hub. If Lighter executes well, it could become a strong contender in the arena of DeFi trading. However, also it faces the challenge of sustaining user interest post-rewards and must compete with other up-and-coming perp exchanges.

Founders and Team

Lighter is led by founder Vladimir Novakovski, who serves as CEO. Novakovski’s background blends high finance and tech: he was previously a high-frequency trader at Citadel and later co-founded Lunchclub, with engineering stints at Quora and Addepar. This mix of quantitative trading and startup experience is evident in Lighter’s product focus. The team’s pedigree spans machine learning, fintech, and crypto which suggests they have the know-how to build a complex exchange. Overall, the leadership and engineering talent appear capable of executing Lighter’s technically demanding vision.

Funding

Lighter appears to have secured venture funding from notable firms including Haun Ventures, Founders Fund, Dragonfly Capital, and Robot Ventures, though the amount and structure of the raise remain undisclosed. This backing suggests early confidence from investors with deep Web3 experience, which could provide Lighter with access to strong technical and regulatory networks as it builds out its protocol. However, the absence of public fundraising details indicates a preference for operating in stealth or under private terms, meaning the project’s financial runway and execution capacity cannot yet be independently assessed.

Community

Lighter’s community has scaled up rapidly thanks to the points-for-airdrop incentive strategy. By the time of mainnet launch (Oct 2025), the platform had 188,000 registered accounts and over 50,000 daily active users participating. This growth was fueled by Season 1’s private beta rewards and the ongoing Season 2 Points Program, which targets active traders. The team’s decision to remove invite codes and deposit caps upon public launch encouraged broader community participation. Lighter’s ability to convert airdrop hunters into long-term users will determine if its community remains robust after the token launch.

Competitors

The perp-DEX sector is crowded and competitive, with Lighter up against both new and established players. Direct rivals include next-gen decentralized perps exchanges Aster and Hyperliquid, which have raced ahead in volume. Lighter must pull users these rivals as well as earlier perp platforms like dYdX and GMX who pioneered decentralized futures. Additionally, centralized exchanges (Binance, Bybit, etc.) still dominate volumes and will compete on liquidity and user experience. Market saturation means users have many choices, often driven by incentives. Lighter’s success will depend on how well its unique features (verifiable matching, Ethereum compatibility) and reward programs can attract and retain traders in the face of fierce competition.

Other Details

In Lighter’s Season 2 airdrop, 200,000 points are distributed weekly based on user trading activity. Points are awarded across metrics such as trading volume, open interest, funding, liquidations, deleveraging, and profit and loss, with scaling factors that reward higher trading quality. Premium accounts influence metric weights and may receive more favorable point allocations.