Great read from Vitalik on options as a way to reduce dependence on oracle risk for RWAs.
We are working on options at Lighter and already support some components of this: ETH as collateral and markets of real prices, specifically H100 compute index.
https://t.co/5LQzmePs46
Id keep tabs on how $LIT develops alongside Hyperliquid especially after the CFTC headline
Hopefully the token sees some stronger bullish flows in the future
Great to see the CFTC's leadership on perps and excited to work with @ChairmanSelig and @passalacqua_mj on regulatory frameworks for decentralized perps in the US.
https://t.co/eiq2nzV7p4
Update: RFQ now supports more markets.
BTC, ETH, SOL, XRP, TON, and ZEC are now available through RFQ on Lighter.
Traders can indicate large size interest directly to market makers and execute with lower slippage — all through the order book. Let us know if you want access!
“Well-designed L2s can also help, especially L2s optimized for specific applications (eg. high-volume trading, privacy…)” - @VitalikButerin
moving fast inside verifiability is harder, but more meaningful long term.
Bullish @Lighter_xyz 🕯️
New RWA Perp Listing! You can now trade $H100 with up to 10x leverage.
The H100 Compute Price Index from @OrnnExchange tracks the real-time market price of H100 GPU compute, measured in USD per GPU-hour, using transacted rates across cloud providers and updating hourly.
Earlier this week we confirmed @Lighter_xyz's desert verifier reproduces byte-exact from public source.
Today, we explain what that actually means for exchange risk.
Every centralized venue runs on one trust assumption: you trust the venue to give your money back.
Lighter is an exception 🧵
Been diving into Lighter (ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 ). If Ethereum wants to keep perpetuals volume on-chain, this is the killer app it needs.
Here is the thesis on why it works, current metrics, and how it co-exists with Hyperliquid and isn't just a "beta" play:
The Metrics
-Volume: ~$112M daily
-Valuation: ~$345M market cap
-Position: Top 5 DeFi trading volume globally
The Architecture
We need infrastructure that proves Ethereum can handle high-frequency trading. Lighter is an app-specific zk-rollup built for central limit order book (CLOB) trading.
-Execution: Off-chain matching with millisecond latency.
-Settlement: Trustless settlement on Ethereum via zk-SNARKs and blob data.
-Custody: If the sequencer fails, users can reconstruct their accounts and force an exit directly on L1.
Co-existing with Hyperliquid
The derivatives market is large enough for multiple architectures.
-Hyperliquid (Sovereign L1): Optimizes for raw speed and independent consensus. Requires trusting a standalone validator set.
-Lighter (Ethereum L2): Optimizes for Ethereum alignment. Sacrifices sovereign control to inherit Ethereum's security budget.
Hyperliquid proved the demand for fast, on-chain order books. Lighter takes that product-market fit and anchors it to Ethereum. Both models will capture significant volume as traders diversify their counterparty risk profiles.