Lighter operates a decentralized exchange built on custom ZK infrastructure as a zero-knowledge rollup on Ethereum. This platform is optimized for high throughput, offering millisecond latency for order matching and cancellations. It provides verifiable, onchain crypto trading with zero fees for retail users by cryptographically proving all operations publicly on Ethereum.
Funding
Funding not disclosed
Founders
Product
Problem
Retail cryptocurrency traders face high transaction fees and latency on existing decentralized exchanges, while high‑frequency traders lack a verifiable, low‑cost on‑chain matching engine that can handle large order volumes. This limits accessibility and efficiency for both user segments.
Solution
Lighter implements a custom zero‑knowledge rollup on Ethereum that generates cryptographic proofs for every order match and liquidation. By batching these proofs on Ethereum, the platform achieves millisecond‑level latency and processes tens of thousands of orders per second. The rollup’s architecture allows retail users to trade with zero fees, while high‑frequency traders pay competitive fees that reflect the low marginal cost of execution. All operations are publicly verifiable, preserving Ethereum’s security model and enabling seamless composability with other DeFi protocols. Users deposit and withdraw assets through standard Ethereum transactions, with state changes confirmed by the zk‑rollup’s batch prover.
Target Audience
The primary users are retail cryptocurrency traders seeking fee‑free execution and high‑frequency traders or algorithmic market makers that require ultra‑low latency and provable order matching on a decentralized platform.
Features
- Custom zk‑rollup that produces batch ZK proofs for order matching, cancellations, and liquidations
- High‑throughput matching engine capable of >10,000 orders and cancels per second with ~1 ms latency
- Risk engine and executor that enforce a publicly predefined rule set and verify correctness on‑chain
- Zero‑fee trading for retail participants; tiered fee structure for high‑frequency traders
- Full Ethereum composability: deposits, withdrawals, and proof verification use native ETH contracts
- Publicly auditable transaction history via on‑chain proof verification, ensuring transparency and security
- Secure deposit/withdraw workflow leveraging Ethereum’s consensus and cryptographic guarantees