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FollowingEcosystem growth drives milestone achievement
Lighter, a zero-knowledge perpetual contract exchange based on Ethereum, has exceeded the US$10 billion mark in cumulative perpetual contract transactions. This achievement is mainly due to its growing ecosystem integration network. Since the official launch of the main network in April 2025, the platform has expanded rapidly and taken an important step in the decentralized derivatives market.
This increase is largely due to Lighter's Partner Attribution program. The plan allows third-party integrators to build applications based on Lighter and provide their trading infrastructure through their own front-end interfaces. Integrators can configure transaction fees for users within the limits set by Lighter. This architecture helps Lighter extend its influence beyond its own interfaces without distracting core liquidity.
Lighter, founded by Vladimir Novakovski, is an Ethereum-based zk-rollup perpetual contract exchange that provides zero-rate services to retail users and provides advanced on-chain proof for order matching and clearing. Its business model is essentially to restructure the traditional "order-flow payment" on-chain: retail users are exempted from handling fees, and revenue comes from selling order-flow access to professional institutions through premium accounts.
Robinhood Chain cooperation and new market launch
Lighter is the officially designated perpetual contract partner of Robinhood Chain. The cooperation between the two parties has officially started since its launch on the main network on July 1, 2026. Eligible users use $USD Gas as collateral and denominated assets to conduct perpetual contract transactions in Robinhood Wallet, and the revenue of the two companies is distributed on a 50/50 basis. Currently, this perpetual contract product is temporarily closed to residents of the United States, the United Kingdom, Canada, Switzerland, United Arab Emirates and Singapore.
In addition to its deep integration with Robinhood Chain, Lighter also continues to add new spot and perpetual contract markets, aiming to provide traders across its integrated channels with more diversified trading tools.
Recently, Lighter announced that it has completed a US$68 million financing led by Peter Thiel's Founders Fund and Ribbit Capital. With the announcement of the financing, Lighter has leapt to the forefront of decentralized exchanges (DEX) focusing on perpetual contracts, surpassing competitors including Hyperliquid and Aster. Data shows that Hyperliquid's share of the perpetual contract DEX market has dropped from approximately 80% in August 2025 to approximately 38% in early 2026, indicating that fierce competitors are seizing significant market share.
