13 Oct 2025
47m

Ep.64 [EN]: Vlad: Building a secure & low latency / cost trading venue Lighter on world's largest public blockchain

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HODLong 后浪

In this episode of HODLong, Mable Jiang interviews Vlad, the founder and CEO of Lighter, about the launch of MIGNET and the inspiration behind Lighter. Vlad discusses his background in TradFi and AI, leading to his entry into the crypto space and the development of Lighter, a fully verifiable exchange using ZK technology. The conversation covers the evolution from testnet to mainnet, the changes implemented, and the metrics used to measure the exchange's health, such as TVL and open interest. They delve into the design of Lighter's incentive program, the distinction between retail and premium users, and the advantages offered to premium account holders. Vlad explains Lighter's approach to verifiable matching and liquidations, the fee structure, and the regional strategy driven by community growth, particularly in Korea. The discussion also touches on the single sequencer, LLP, auto deleveraging, new asset listings, and future plans for Lighter.

Outlines

Part 1: Introduction to Lighter

Part 2: Metrics and Incentive Programs

Part 3: Technology and Fee Structure

Part 4: Risk Management and Future Strategy

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