# Lighterpedia — Independent Lighter DEX Guide | Fees, LIT Token, Trading

> Not the official app. The independent reference for Lighter DEX: how to trade zero-fee perps on a fully verifiable ZK order book, up to 50x leverage, the points program and LIT airdrop, fees, and honest comparisons — verified against the docs.

Source: https://lighterpedia.com/

# An Independent Guide to
Lighter DEX

Lighterpedia is a third-party reference site written by Concept211. It is not run by Lighter and has no relationship with the companies behind it. What it does is explain Lighter from the outside: sourced fee breakdowns, tutorials, and comparisons, with the primary source linked so you can check the claim rather than trust the page.

Lighter itself is a perpetual futures exchange with a verifiable ZK order book settling to Ethereum. Standard accounts trade at 0% maker and 0% taker; you connect a wallet and deposit USDC rather than opening an account.

[Browse All Guides](https://lighterpedia.com/guides)[Start Trading on Lighter](https://app.lighter.xyz/?referral=LIGHTERPEDIA)

Sourced or omitted. Referral-funded and disclosed. Not financial advice. [Disclaimer](https://lighterpedia.com/disclaimer).

## What Is Lighter DEX?

Lighter DEX is a fully verifiable, **zero-fee** decentralized perpetuals exchange built on custom zero-knowledge infrastructure that settles to Ethereum. It runs a true central limit order book — not an AMM — and is the first exchange to offer verifiable order matching and liquidations at speeds comparable to a centralized exchange. Founded by Vladimir Novakovski (ex-Citadel), it raised $68M at a roughly $1.5B valuation in November 2025 from Founders Fund, a16z, Ribbit Capital, Dragonfly, Lightspeed and others, with Robinhood's Vlad Tenev as an advisor.

What makes Lighter different is **verifiability and cost**: standard accounts trade with 0% maker and taker fees — 0% on both sides, per [Lighter's official fee schedule (docs.lighter.xyz)](https://docs.lighter.xyz/trading/trading-fees), checked 11 August 2026 — and every match and liquidation is provable with ZK. It lists 217 active [markets](https://lighterpedia.com/guides/trading) — crypto perps, spot, real-world assets like commodities and equities, and pre-IPO perps on names like OpenAI and Anthropic — with up to 50x leverage and order types including limit, market, TWAP, and stop-loss/take-profit. If the sequencer ever stalls, an ["Escape Hatch"](https://lighterpedia.com/privacy) freezes the core contract so users can reconstruct state from Ethereum and withdraw.

This is an independent reference, not the official app. We explain [what Lighter DEX is](https://lighterpedia.com/ecosystem/what-is-lighter), how to [connect a wallet and deposit USDC](https://lighterpedia.com/guides/getting-started),how [verifiable matching and the Escape Hatch](https://lighterpedia.com/privacy/lighter-zk-verifiability-explained) work, how the [points program and LIT token](https://lighterpedia.com/ecosystem) line up toward an estimated airdrop, where [LIT itself trades](https://lighterpedia.com/markets/lit), why Lighter is [zero-fee](https://lighterpedia.com/guides/fees) for standard accounts, and how it stacks up against [Hyperliquid, Aster, and other exchanges](https://lighterpedia.com/compare) — all verified against [Lighter's official documentation](https://docs.lighter.xyz).

HOW THIS SITE IS FUNDED

## The Referral, Stated Plainly

Lighter charges 0% maker and 0% taker on standard accounts, so a code cannot make trading cheaper for most people. Per [Lighter's referral documentation](https://docs.lighter.xyz/referral-program) (read 14 August 2026), signing up with code **LIGHTERPEDIA** offers you **one week of Premium with fees rebated**, on the first $10M of volume, and Lighter calls that rebate discretionary. We earn 10–30% of the gross fees referred users pay. That is a commercial arrangement, not an affiliation, and it buys nobody a rating here. Full terms on the [referral page](https://lighterpedia.com/referral).

[Start Trading on Lighter](https://app.lighter.xyz/?referral=LIGHTERPEDIA)

+

Referral CodeLIGHTERPEDIA

Applied at sign-up

EVERYTHING YOU NEED

## Explore Our Guides

[### Getting Started

Connect your wallet, deposit USDC, and place your first zero-fee perp on Lighter in minutes.

Explore Guides →](https://lighterpedia.com/guides/getting-started)[### Trading Features

Master Lighter perps and spot — order types, up to 50x leverage, TWAP, and pre-IPO & RWA markets.](https://lighterpedia.com/guides/trading)[### Fees & Savings

Why Lighter is zero-fee for standard accounts, how premium LIT tiers work, and how deposits and withdrawals cost.](https://lighterpedia.com/guides/fees)[### Exchange Comparisons

Honest, data-driven comparisons of Lighter vs Hyperliquid, Aster, dYdX, GRVT, and every major competitor.](https://lighterpedia.com/compare)[### Points & Token

The Lighter points program (Season 2), the LIT token, staking, buybacks, public pools, and the airdrop outlook.](https://lighterpedia.com/ecosystem)[### Security & Verifiability

How Lighter proves fair order matching and liquidations with ZK, the Escape Hatch, self-custody, and wallet security.](https://lighterpedia.com/privacy)[### Troubleshooting

Fix deposits, withdrawals, wallet connections, and every common Lighter issue — fast.](https://lighterpedia.com/troubleshooting)

GET STARTED IN MINUTES

## How Do You Start Trading on Lighter?

No KYC. No email. No passwords. Connect a wallet, deposit USDC, and trade zero-fee perps with full self-custody on a verifiable ZK order book.

[Trade Zero-Fee on Lighter](https://app.lighter.xyz/?referral=LIGHTERPEDIA)

1

### Connect Your Wallet

Open Lighter and connect your wallet. No email, no password, no KYC — just a wallet signature.

2

### Deposit USDC

Deposit USDC as your core collateral (ETH and other assets work as multi-asset margin). Funds stay in your self-custody, backed by ZK proofs and the Escape Hatch.

3

### Trade Zero-Fee & Earn Points

Place limit, market, TWAP, or stop orders with 0% fees on standard accounts. Sign up with code LIGHTERPEDIA to attach the code at sign-up. See /referral for the LIT airdrop.

HOW IT STACKS UP

## How Does Lighter Compare to Hyperliquid and Aster?

Lighter is the only one of the three with 0% maker/taker fees on standard accounts and ZK-verifiable order matching and liquidations. Hyperliquid counters with deeper liquidity and a longer track record; Aster with higher headline leverage and multi-chain reach. The table below breaks down the differences.

| | | Lighter | Hyperliquid | Aster

| Type | ZK order-book perp DEX | Order-book perp DEX | Order-book perp DEX

| Standard trading fees | 0% maker / 0% taker | Low maker/taker fees | Low maker/taker fees

| Verifiable matching & liquidations | Yes (ZK proofs) | No | No

| Max leverage | Up to 50x | Up to ~40x | Up to 1001x

| Markets | 217 active incl. RWAs & pre-IPO | Crypto perps + HIP-3 | Crypto, stocks & commodities

| Infrastructure | Custom ZK, settles to Ethereum | Own L1 (HyperBFT) | Multi-chain (BNB, ETH, SOL, Arbitrum)

| Token / incentive | Points → LIT (est. airdrop) | HYPE token | ASTER token

| KYC required | No | No | No

| Self-custody | Yes | Yes | Yes

[See Full Comparisons →](https://lighterpedia.com/compare)

JUST ADDED

## Recently Published

[Fees & Savings11 min

### What a Zero-Fee Trade Actually Costs on Lighter

Lighter charges 0% maker and 0% taker. We measured the costs that are not called fees: spread, slippage at three sizes, funding and gas, across eight markets on 18 August 2026.](https://lighterpedia.com/guides/fees/what-a-zero-fee-trade-actually-costs)[Ecosystem9 min

### July 2026: Lighter Burns 15.5M LIT in Its First Revenue-Funded Supply Cut

On July 11, 2026 Lighter burned ~15.5M LIT, about 6.3% of circulating supply, in its first revenue-funded burn. The event, the mechanism, and the gross-vs-net supply math.](https://lighterpedia.com/ecosystem/lighter-lit-token-burn-15-5-million)[Ecosystem11 min

### Lighter Points Program Explained: Maximize Your LIT Airdrop Allocation

How Lighter points are earned and weighted, plus optimization strategies by trader type, common mistakes that cost points, and how to track your balance ahead of a LIT airdrop.](https://lighterpedia.com/ecosystem/lighter-points-program)[Privacy & Security10 min

### Lighter DEX ZK Verifiability Explained: What It Means for Your Funds

A plain-language guide to Lighter's ZK verifiability: what gets proven, how the Escape Hatch protects withdrawals, how it differs from proof of reserves, and what it means for your funds.](https://lighterpedia.com/privacy/lighter-zk-verifiability-explained)

READY TO TRADE?

## Start Trading on Lighter Today

Zero-fee perps on a verifiable ZK order book, up to 50x leverage, no KYC and no email — connect a wallet, deposit USDC, and trade. Our guides walk through each step, and every fee figure links back to Lighter's own docs so you can check it.

[Browse All Guides](https://lighterpedia.com/guides)[Start Trading on Lighter](https://app.lighter.xyz/?referral=LIGHTERPEDIA)