Lighter is a decentralized perpetual contract trading platform (Perp DEX) based on Ethereum Layer-2. It enhances trading performance and scalability through its self-developed zero-knowledge proof (ZK-Rollup) infrastructure. While inheriting Ethereum's security and composability, it provides high-throughput, low-latency, and highly transparent on-chain trading experiences. The system can generate verifiable ZK proofs for core trading processes such as order matching and clearing, making trading results auditable and significantly reducing transaction costs. The project has raised approximately $87 million in total funding, with investors including well-known institutions such as Founders Fund, Ribbit Capital, Haun Ventures, and Robinhood. Since its launch, Lighter has shown outstanding trading volume performance in the Perp DEX sector, and market attention continues to grow.
1. Core competitor in the hot track. Lighter operates in the Perp DEX (decentralized perpetual contracts) sector, which is one of the fastest-growing and most attention-grabbing subfields of DeFi derivatives in 2025. It has clear market demand and continuously growing industry benefits. Lighter has become one of the core projects in this sector.
2. Outstanding Perp DEX trading volume performance. Over multiple reporting periods, Lighter once topped the 24-hour trading volume chart for Perp DEXs, with trading volumes surpassing leading competitors like Hyperliquid and Aster at times, demonstrating strong real trading demand, liquidity capacity, and user activity.
3. Strong backing from capital and institutions. The project has raised approximately $87 million in total financing, with investors including top-tier crypto and traditional financial institutions such as Founders Fund, Ribbit Capital, and Haun Ventures. The capital structure is high-quality, supporting long-term development and continuous expansion.
4. High market attention and TGE expectations. Following the phase-wise market feedback from projects like Aster and Hyperliquid, market focus on high-performance Perp DEXs of the same type has significantly increased. Lighter is seen as an important target under this narrative, with discussions and media exposure related to the TGE continuously rising.
5. On December 13, 2025, Coinbase officially announced that Lighter would be added to its listing roadmap and will soon be available on Coinbase: https://x.com/CoinbaseMarkets/status/1999622324383858752
1. Holder Equity:
LIT holders can access a variety of financial products, offering risk-adjusted returns, better trade execution, and higher capital efficiency.
2. Infrastructure Layering:
Layered infrastructure is built based on LIT staking, gradually achieving decentralization over time.
3. Market Data and Verification:
LIT, as a utility token, can be used for accessing market data and price verification services. Verified market data is provided through a staking incentive mechanism.
The total supply of LIT tokens is 1 billion (1,000,000,000 LIT), with the circulating supply at launch to be . The specific allocation is as follows:
Overall Allocation:
Ecosystem: 50%
Team and Investors: 50%
1. Ecosystem Portion (50%)
TGE Airdrop (a total of 12.5 million points for S1 and S2): 25%
Future season points and partner incentives: 25%
2. Team and Investors Portion (50%)
Team: 26% (locked for 1 year, then linearly unlocked over the next 3 years)
Investors: 24% (locked for 1 year, then linearly unlocked over the next 3 years)
Lighter completed a $68 million funding round on November 11, 2025, led by Founders Fund and Ribbit Capital, with participation from well-known institutions such as Haun Ventures and Robinhood. This round of financing brought the project's valuation to approximately $1.5 billion. Previously, in December 2024, Lighter had completed a $21 million funding round led by Haun Ventures and Craft Ventures, with Dragonfly and Robot Ventures participating.
The early price of Lighter tokens was partially driven by market expectations, and the alignment between its long-term value and protocol revenue still requires further validation. At the same time, the platform has shown relatively high trading volumes at certain stages, but attention should be paid to the proportion driven by incentives, short-term traffic concentration, or arbitrage trading. The sustainability of trading volume after incentives are reduced remains uncertain. In addition, the Perp DEX sector is highly competitive, with projects like Hyperliquid and Aster already establishing advantages in liquidity, user base, and brand recognition. Lighter needs to continue investing to maintain its differentiated competitiveness.
Project Name: Lighter
Token: LIT
Sector: Perp Dex
Official Website: https://lighter.xyz/
Contract Address (Browser): https://etherscan.io/token/0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2
Social Media:
Twitter：https://x.com/Lighter_xyz，107.1K Followers
Discord：discord.gg/lighterxyz，58,143 members
Telegram：https://t.me/lighterxyz_official，3,511 members
Lighter is a decentralized perpetual contract trading platform (Perp DEX) based on Ethereum Layer-2. It enhances trading performance and scalability through its self-developed zero-knowledge proof (ZK-Rollup) infrastructure. While inheriting Ethereum's security and composability, it provides high-throughput, low-latency, and highly transparent on-chain trading experiences. The system can generate verifiable ZK proofs for core trading processes such as order matching and clearing, making trading results auditable and significantly reducing transaction costs. The project has raised approximately $87 million in total funding, with investors including well-known institutions such as Founders Fund, Ribbit Capital, Haun Ventures, and Robinhood. Since its launch, Lighter has shown outstanding trading volume performance in the Perp DEX sector, and market attention continues to grow.
1. Core competitor in the hot track. Lighter operates in the Perp DEX (decentralized perpetual contracts) sector, which is one of the fastest-growing and most attention-grabbing subfields of DeFi derivatives in 2025. It has clear market demand and continuously growing industry benefits. Lighter has become one of the core projects in this sector.
2. Outstanding Perp DEX trading volume performance. Over multiple reporting periods, Lighter once topped the 24-hour trading volume chart for Perp DEXs, with trading volumes surpassing leading competitors like Hyperliquid and Aster at times, demonstrating strong real trading demand, liquidity capacity, and user activity.
3. Strong backing from capital and institutions. The project has raised approximately $87 million in total financing, with investors including top-tier crypto and traditional financial institutions such as Founders Fund, Ribbit Capital, and Haun Ventures. The capital structure is high-quality, supporting long-term development and continuous expansion.
4. High market attention and TGE expectations. Following the phase-wise market feedback from projects like Aster and Hyperliquid, market focus on high-performance Perp DEXs of the same type has significantly increased. Lighter is seen as an important target under this narrative, with discussions and media exposure related to the TGE continuously rising.
5. On December 13, 2025, Coinbase officially announced that Lighter would be added to its listing roadmap and will soon be available on Coinbase: https://x.com/CoinbaseMarkets/status/1999622324383858752
1. Holder Equity:
LIT holders can access a variety of financial products, offering risk-adjusted returns, better trade execution, and higher capital efficiency.
2. Infrastructure Layering:
Layered infrastructure is built based on LIT staking, gradually achieving decentralization over time.
3. Market Data and Verification:
LIT, as a utility token, can be used for accessing market data and price verification services. Verified market data is provided through a staking incentive mechanism.
The total supply of LIT tokens is 1 billion (1,000,000,000 LIT), with the circulating supply at launch to be . The specific allocation is as follows:
Overall Allocation:
Ecosystem: 50%
Team and Investors: 50%
1. Ecosystem Portion (50%)
TGE Airdrop (a total of 12.5 million points for S1 and S2): 25%
Future season points and partner incentives: 25%
2. Team and Investors Portion (50%)
Team: 26% (locked for 1 year, then linearly unlocked over the next 3 years)
Investors: 24% (locked for 1 year, then linearly unlocked over the next 3 years)
Lighter completed a $68 million funding round on November 11, 2025, led by Founders Fund and Ribbit Capital, with participation from well-known institutions such as Haun Ventures and Robinhood. This round of financing brought the project's valuation to approximately $1.5 billion. Previously, in December 2024, Lighter had completed a $21 million funding round led by Haun Ventures and Craft Ventures, with Dragonfly and Robot Ventures participating.
The early price of Lighter tokens was partially driven by market expectations, and the alignment between its long-term value and protocol revenue still requires further validation. At the same time, the platform has shown relatively high trading volumes at certain stages, but attention should be paid to the proportion driven by incentives, short-term traffic concentration, or arbitrage trading. The sustainability of trading volume after incentives are reduced remains uncertain. In addition, the Perp DEX sector is highly competitive, with projects like Hyperliquid and Aster already establishing advantages in liquidity, user base, and brand recognition. Lighter needs to continue investing to maintain its differentiated competitiveness.
Project Name: Lighter
Token: LIT
Sector: Perp Dex
Official Website: https://lighter.xyz/
Contract Address (Browser): https://etherscan.io/token/0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2
Social Media:
Twitter：https://x.com/Lighter_xyz，107.1K Followers
Discord：discord.gg/lighterxyz，58,143 members
Telegram：https://t.me/lighterxyz_official，3,511 members