What it does
Lighter Core is the main Lighter deployment anchored to Ethereum. Orders are handled by a sequencer, while proofs make the resulting exchange state verifiable by contracts on Ethereum. Fast execution and final settlement are consequently different stages; a quick interface response does not mean the Ethereum proof has already been finalized.
Its account tiers create a useful trade-off to understand before choosing where to trade. Standard accounts minimize explicit maker and taker charges, while Premium accounts pay for different latency and access characteristics. Fees alone do not capture spread, funding, slippage or liquidation costs. Lighter on Robinhood Chain is a separate instance and is covered in its own profile.
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Which network does Lighter use?
Lighter Core executes through its own sequencer and ZK-rollup machinery, with proofs, state commitments and data submitted to Ethereum. Ethereum is the settlement anchor. Deposit bridges do not turn Core into a deployment on their source networks. Robinhood Chain has separate Lighter infrastructure and liquidity.
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Where it stands out
- Proofs cover exchange operations, including matching and liquidations, rather than relying only on a sequencer’s account of the final balances.
- The Standard tier removes ordinary maker and taker charges, which can matter when comparing repeated trading costs.
- Documented priority exits and an escape mechanism address sequencer failure, although they have operational conditions and are not instant guarantees.
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What you can do
- 01Standard and Premium accounts expose different fee and latency schedules; higher-volume tiers and LIT staking can affect Premium pricing.
- 02Unified Trading Account mode supports multi-asset margin. Eligible collateral, valuation haircuts and limits must be checked in the current table.
- 03The account’s collateral health depends on both positions and collateral prices. Adding a volatile asset as margin can introduce a second source of liquidation pressure.
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Who’s behind it
Founded by Vladimir Novakovski. Lighter’s published terms identify Elliot Technologies, Inc. as the interface operator. The protocol documentation explains the sequencer, proof system and Ethereum contracts separately, which is useful when distinguishing company responsibilities from the settlement mechanism.
Funding and investors
A $68 million financing announced on 11 November 2025 was led by Founders Fund and Ribbit Capital, at a stated $1.5 billion fully diluted valuation. The legal adviser’s announcement independently confirms this round. These are company financing facts, not returns or protections promised to exchange users.
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- 2025-11-11$68 million
Financing; stage not specified
Reported investorsFounders Fund · Ribbit Capital
Lead investors named by Lighter’s legal adviser; the announcement states a $1.5 billion fully diluted valuation.
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- 2025-11-11$21M
Financing
Reported investorsHaun Ventures · Craft Ventures · Dragonfly · Robot Ventures
Closed 2024; disclosed November 2025 in Fortune’s company interview.
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Referral benefits and conditions
The published program offers newly referred users a rebate of eligible Premium fees during their first week, capped at the first $10 million of combined maker and taker volume.
The clock starts at signup. Rebates follow a weekly payment schedule and a $1 minimum, with exclusions for certain integrator fees and abusive activity. Code-change guidance differs between the documentation and a newer announcement; verify the live onboarding rule rather than assuming a code can always be added later.
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Fees & availability
Fees and costs
Standard accounts list 0% maker and 0% taker fees. Premium’s base schedule lists 0.0040% maker and 0.0280% taker before applicable tier and staking reductions. Latency differs by account type. Optional account features, spread, funding and other transaction costs should be checked separately.
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Eligibility and availability
The published interface terms restrict users in locations including the United States, United Kingdom, Canada, China and Russia, among others. A wallet connection does not waive those rules. Multi-asset collateral can lose value during an adverse position move; sequencer failure may require the documented exit process instead of normal trading.