Lighter, a decentralized perpetuals exchange, has officially launched its Ethereum Layer 2 public mainnet after successfully completing eight months of beta testing. The platform introduces revolutionary ZK-based trading and kicks off the second season of its points program, set to run until 2025.
Lighter Emerges as a Hyperliquid Rival on Ethereum L2
Lighter, a decentralized perpetuals trading platform positioning itself as a competitor to Hyperliquid, has finally unveiled its Ethereum Layer 2 public mainnet following an extensive eight-month private beta testing phase.
As per the recent X post, the protocol offers cost-effective and high-speed perpetual trading facilitated by custom zero-knowledge (ZK) circuits, ensuring verifiable order matching and liquidations. Engineered to mimic the speed and efficiency of traditional high-frequency finance, Lighter aims to provide a top-notch exchange experience directly on the blockchain.
Since its beta launch with a limited number of 100 traders, Lighter has witnessed remarkable growth, boasting over 188,000 unique accounts and more than 50,000 daily active users. Retail traders utilizing the platform’s front end can now trade without incurring any fees, while API trading, market makers, and high-frequency trading (HFTs) will now be subject to fees. Additionally, the protocol has implemented mechanisms to automatically detect and prevent wash trading and Sybil attacks.
Looking towards the future, the team has outlined plans to enhance interoperability with Ethereum DeFi and other Layer 2 ecosystems, solidifying its position as a key player in the onchain derivatives market.