Lighter Raises $68 Million at a $1.5 Billion Valuation
Lighter, a decentralized perpetual-futures trading platform built on ETH, has raised $68 million in a new funding round that values the company at approximately $1.5 billion. The round was co-led by Founders Fund and Ribbit Capital, with participation from Haun Ventures and Robinhood Markets. Including a previously undisclosed $21 million round, Lighter’s total capital raised now approaches $90 million, positioning it among the top-funded decentralized platforms in the market.
Fundraise signals strong investor appetite for decentralized trading
The new financing round comes as Lighter prepares for its token generation event (TGE), expected to take place later this quarter. The investment underscores growing confidence from top-tier venture firms in decentralized trading infrastructure, particularly in the perpetuals and derivatives segment. Lighter’s latest valuation reflects optimism around its scalability and potential to rival leading on-chain derivatives protocols.
Founded by Vladimir Novakovski, a Harvard-educated engineer and former software developer, Lighter aims to bridge the gap between institutional-grade trading systems and decentralized finance (DeFi). The company has built a custom layer-2 answer on ETH that enables high-throughput, low-latency trading, complete with on-chain proofs for order execution and liquidation events.
According to company data, Lighter’s 30-day trading volume stands at roughly $279.5 billion, with total value locked (TVL) of about $1.15 billion. These metrics place the platform among the quickest-growing decentralized derivatives venues by activity and liquidity.
Lighter diverseiates itself with zero trading fees for retail users and a transparent on-chain verification system designed to reduce manipulation risks. The platform’s infrastructure is optimized for speed and transparency—two core elements that appeal to institutional traders exploring DeFi.
The newly raised capital will fund product expansion beyond perpetual futures into spot trading and new derivatives markets. Lighter also plans to enhance its liquidity infrastructure, bolster its user interface, and further improve the technical performance of its proprietary layer-2 engine.
Industry observers say the funding round is a sign of resilience and maturation in decentralized finance, particularly in the on-chain trading sector. Despite broader market uncertainty, investor interest in scalable, transparent trading answers remains strong. Lighter’s backers view the project as part of a new generation of decentralized platforms capable of meeting institutional demand without sacrificing transparency.
Implications for the DeFi ecosystem
Lighter’s $68 million raise positions it as a formidable competitor to existing decentralized perpetuals platforms and centralized platforms alike. The company’s $1.5 billion valuation signals both market optimism and heightened expectations for performance and compliance. Analysts note that maintaining growth momentum will depend on Lighter’s ability to attract liquidity providers, retain traders, and navigate evolving regulatory frameworks around derivatives trading.
As the DeFi ecosystem continues to evolve, Lighter’s funding round highlights a renewed wave of venture capital flowing into decentralized trading infrastructure—indicating that the next stage of DeFi growth may be driven by high-performance, transparent, and institution-ready platforms.
