@Ramen_HL @kidponga The answer is TBD - the point is not theoretical, if we want to actually move to a model where the token is a security, it's important to consider the pros and cons. The considerations may also change once Clarity is passed.
there's a long list of lighter's technical advancements but the biggest difference is hyperliquid has a legacy design that requires consensus overhead:
hyperliquid transactions are batched into blocks. this means hyperliquid doesn't have continuous price discovery
while lighter's sequencer continuously executes trades, which means price discovery is continuous (and faster)
lighter also requires less trust. hyperliquid requires all transactions go through a centralized API
lighter transactions can be placed on the ethereum L1 priority queue, which bypasses the lighter sequencer API
this means as long as users trust etheruem L1, they can always get funds off lighter
lighter has many more smal improvements but these are the two big ones
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JUNE 2028.
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