Hyperliquid Rival Lighter Goes Live on Ethereum L2

Lighter, a decentralized perpetuals trading platform positioned as a competitor to Hyperliquid, has launched its Ethereum Layer 2 public mainnet following eight months of private beta testing.

The X article claims that the protocol provides low-cost, low-latency perpetual trading that is fueled by unique zero-knowledge (ZK) circuits that allow for liquidations and verified order matching. Lighter seeks to provide an exchange-grade experience straight onchain by imitating the speed and effectiveness of high-frequency finance.

Lighter has expanded to over 188,000 unique accounts and more than 50,000 daily active users since its beta launch, when it had just 100 traders. While market makers, API trading, and high-frequency trading (HFTs) are now subject to fees, retail traders who use the front end can continue trading without them. Additionally, the protocol has provisions in place to automatically prevent Sybil and wash trading assaults.

In order to strengthen its position as a major participant in the onchain derivatives market, the team claims it intends to increase compatibility with Ethereum DeFi and other L2 ecosystems in the future.

 

 

 

 

 

 

 

 

 

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