News, data and analysis on tokenized assets, market design and digital economic systems.
Derivatives venue running as a zero-knowledge rollup on Ethereum that generates proofs of its own order matching and liquidations, so price-time priority can be checked rather than taken on trust; retail traders pay no fee and institutional flow is priced instead.
Derivatives venue that runs as a zero-knowledge rollup on Ethereum and generates proofs of its own order matching and liquidations, so that price-time priority can be checked rather than taken on trust, with withdrawal rights enforceable on Ethereum if the sequencer stops producing. Its public mainnet opened in October 2025; it charges retail traders no fee and prices high-frequency and institutional flow instead, an inversion of the maker-taker schedule that most order books use. Founded by Vladimir Novakovski, formerly a trader at Citadel, it raised $68m in late 2025 at a reported valuation near $1.5bn from backers including Founders Fund, Ribbit Capital, Robinhood and Coinbase, with Robinhood's chief executive as an adviser.
Developments in which Lighter is a named party, newest first.
Robinhood began operating Robinhood Chain on mainnet on 1 July 2026, alongside round-the-clock tokenized stock trading, perpetual futures and onchain lending. The tokens give price exposure rather than direct share ownership.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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