Lighter Launches Ethereum Layer-2 Mainnet for ZK-Powered Perpetual Trading

Lighter has launched its Ethereum Layer 2 public mainnet after approximately eight months in private beta, aiming to compete in the decentralized perpetuals trading sector with a focus on speed, transparency, and security. The platform uses custom zero-knowledge circuits to verify critical functions such as order matching and liquidations on-chain, delivering near-centralized exchange performance while maintaining user custody of funds through Ethereum smart contracts. Lighter's design balances high-frequency trading capabilities and on-chain transparency, with retail traders facing no fees while API and high-frequency trading firms are charged, alongside rules to deter wash trading and Sybil attacks. The project has grown rapidly, expanding from 100 users in early beta to over 188,000 accounts and 50,000 daily active users, and has lifted previous deposit caps and referral requirements to broaden access. Lighter has also initiated Season 2 of its points rewards program, planned through 2025, signaling ongoing community engagement and potential future token issuance. Industry leaders have praised Lighter as a step forward in decentralized infrastructure, although some analysts note that liquidation transparency and margin efficiency still lag behind centralized standards.