Original | Odaily Planet Daily (@OdailyChina)
Last night, Lighter announced the completion of a $68 million financing round, led by Founders Fund and fintech investment firm Ribbit Capital, with participation from Haun Ventures and Robinhood. Following this round of financing, Lighter's company valuation reached $1.5 billion.
As a result of this news, Lighter, which has not yet issued a token, has quickly become the most sought-after Perp DEX project for "yield farmers." According to DefiLlama data, Lighter's 24-hour trading volume exceeded $11 billion, ranking first among Perp DEXs, followed closely by Hyperliquid ($9.1 billion) and Aster ($8 billion).
Perp DEX 24-hour trading volume ranking
So, with a post-financing valuation of $1.5 billion and no token issued yet, will Lighter be the next "big yield"? When will the TGE take place? Is it too late to participate now? Below, Odaily Planet Daily will analyze these questions one by one.
Lighter: The 8-month private testing has ended, and the public testnet went live on October 2
Lighter is a perpetual contract trading platform built on Ethereum Layer 2, aiming to combine the speed and liquidity of centralized exchanges with the security and transparency of decentralized exchanges. Its core solution is to use self-developed ZK circuits for matching and settlement, allowing every transaction and settlement to be verified on-chain, thus achieving high-speed execution while maintaining decentralized trust.
If Aster is backed by Binance, then Lighter is backed by Ethereum. It does not choose a closed architecture like HyperLiquid's self-built L1, but instead focuses on "Ethereum-native composability": the LLP Token can circulate on the mainnet and collaborate with DeFi protocols like Aave, thus enjoying a low-cost, low-latency, verifiable execution environment in an open ecosystem. Lighter aims to become a decentralized perpetual contract platform that is "as fast as centralized exchanges but verifiable on-chain."
Lighter has completed its 8-month private testing, and the public mainnet officially launched on October 2. Currently, Lighter is conducting its second season points program, which according to Lighter's founder and CEO Vladimir Novakovski, is planned to end before the end of the year, but not on December 31.
TGE timing may be during the Christmas period
In a Russian AMA on YouTube last month, Lighter's founder and CEO Vladimir Novakovski stated that the second season points program would continue until the TGE. Combined with his previous mention on the X platform that "the points program will end before the end of the year but will not last until December 31," and his recent comment to community members that "the holidays will be lit this year," the expectations for the airdrop timing have become clearer.
Vladimir Novakovski's response regarding TGE timing
Additionally, in a prediction event on Polymarket regarding "Will Lighter complete TGE before December 31?", the market gives it an 89% probability of completing the airdrop by the end of the year.
Polymarket prediction event on "Will Lighter complete TGE before December 31?"
Overall, the community generally speculates that Lighter's airdrop is very likely to take place during the most important Western holiday—Christmas.
Furthermore, according to AMA information, the community airdrop share in the token economic model accounts for 50% of the total token supply, with the completed first season and the ongoing second season activities allocated to 25% to 30% of the total token supply. In other words, when Lighter conducts its TGE, early points users can receive 25% to 30% of the total token supply as airdrop.
How to participate in Lighter trading to earn points?
STEP 1. Go to the official platform (link: https://app.lighter.xyz/trade/), connect your wallet to log in to your account.
STEP 2. Click on "Public Liquidity Pool," select LLP, deposit funds, and you can start trading to earn points.
Currently, users can still participate in the second season points program to earn points for the token airdrop. The core logic is to earn points at the lowest possible cost. Odaily Planet Daily will organize trading strategies after testing is complete, so stay tuned.
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