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Decentralized perpetuals exchange Lighter is attracting increased inflows as it prepares to close its private beta phase and open to the public.
The exchange crossed $350 million in total value locked (TVL) on Sept 3, and is at $375 million today, representing a 90% increase from the beginning of August.
While there is no set date for the public launch, the project posted on X on July 31, “Lighter Private Beta Ending Soon!”. Currently, the platform is gated by invite codes, which users receive based on trading activity and total points earned.
Lighter also introduced pre-launch derivatives on Aug. 26, debuting with World Liberty Financial’s WLFI token. LINEA and $XPL pre-markets are also available on Lighter, but record significantly lower volume than competing venues such as Hyperliquid. Lighter recorded $1.1 million in $XPL pre-market trading volume over the last 24 hours, compared to Hyperliquid’s $23 million, despite a controversial market manipulation incident on Hyperliquid’s $XPL perps.
Traders have also been using Lighter’s liquidity provider vault, LLP, to earn yield on their profits and stablecoins. The pool allows variable deposit sizes based on a user’s total points on Lighter, but contributed funds are currently earning 68% APR with $145 million deposited, making up 38.5% of the platform's TVL.
coinedition.com
cointelegraph.com
crypto-economy.com
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