{"id":45732,"date":"2025-09-04T14:01:44","date_gmt":"2025-09-04T14:01:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=45732"},"modified":"2025-09-04T14:01:44","modified_gmt":"2025-09-04T14:01:44","slug":"is-lighter-the-next-hyperliquid","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=45732","title":{"rendered":"Is Lighter The Next Hyperliquid?"},"content":{"rendered":"
\n

After Hyperliquid\u2019s storming 2024 debut, groundbreaking token airdrop, and it\u2019s seemingly unstoppable rise<\/a> since, crypto traders have been on the lookout for a challenger.\u00a0Lighter<\/a>\u00a0could be it.<\/p>\n

The decentralized derivatives exchange (DEX) specializes in perpetual futures (perps), a type of derivative contract that lets traders speculate on crypto price movements.<\/p>\n

Like an\u00a0exchange-traded fund\u00a0(ETF) in traditional finance, perps allow investors to gain exposure to price\u00a0volatility without owning the underlying asset.<\/p>\n

Launched in private beta this past January, Lighter positions itself as a specialist, high-performance DEX with unique capabilities. Like Hyperliquid, it aims to deliver\u00a0CEX-level performance on-chain.<\/p>\n

What makes Lighter different is its proprietary execution environment. Trades are powered by a custom zk-rollup that enables the DEX to deliver a CEX-like central limit order book (CLOB) experience.<\/p>\n

The ability to aggregate buy and sell orders with the speed and efficiency of a traditional stock exchange has largely eluded DEX projects \u2013 but Lighter claims to have it sussed.<\/p>\n

Closing the CEX-DEX Gap<\/h2>\n

Another differentiator is Lighter’s zero-fee option for retail traders. There’s also the Lighter Liquidity Pool (LLP), a vault that runs a market-making strategy \u2013 inviting comparisons to Hyperliquid’s\u00a0HLP<\/a>. Traders can deposit capital into the pool, which Lighter uses to quote and fill perp trades.<\/p>\n

Since launch in January, Lighter has\u00a0grown to more than 56,000 users<\/a>\u00a0and gathered a\u00a0TVL of $340 million<\/a>. Analysts say some of the growth is down to\u00a0points farming<\/a>, but given that the nascent exchange only just left beta<\/a>, it’s still impressive.<\/p>\n

Founder Vladimir Novakovski hails from an AI and FinTech background, and the project has secured backing from big tech VCs like a16z and Lightspeed Ventures.<\/p>\n

The DEX’s monetization strategy focuses on institutional traders executing high-frequency trades \u2013 leveraging Novakovski’s earlier experience as VP of engineering at trading platform Addepar.<\/p>\n

After its public rollout in September, Lighter plans a new feature which would give traders the flexibility to use their LLP positions as margin. That way they’ll be able to simultaneously …<\/p>\n

Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

After Hyperliquid\u2019s storming 2024 debut, groundbreaking token airdrop, and it\u2019s seemingly unstoppable rise since, crypto traders have been on the lookout for a challenger.\u00a0Lighter\u00a0could be it. The decentralized derivatives exchange (DEX) specializes in perpetual futures (perps), a type of derivative contract that lets traders speculate on crypto price movements. Like an\u00a0exchange-traded fund\u00a0(ETF) in traditional finance, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-45732","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/45732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45732"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/45732\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}