Another week, another @Lighter_xyz points distribution.
Threadooor time:
This week I have been focusing on lower OI coins like UNI/POPCAT/SYRUP and obviously PUMP as well.
Also closed out the ETH long trade which I have held for weeks, so likely responsible for more points since longer holding period = more funding paid = seen as net positive from the platform’s POV.
Got over 200 points the past week, likely attributed to ETH long as mentioned and also solely focusing on lower OI coins. The more capital at risk the more points it likely brings as mentioned before.
Volume is a very noisy metric so don’t even bother trying to spam it bc you won’t get much points for doing so.
Aside, honestly just trade to the best of your ability and enjoy the zero fees the platform offers. Trading on Lighter has gotten smoother over time as well. I expect performance to keep improving as the team gears up for public mainnet.
Some quick traction metrics:
- Distinct Depositors crossed the 56K mark
- TVL crossed 200M
- Record $28.5M net inflows deposited on the week of 14 July (likely a group of whales entered here and started farming Lighter aggressively)
(H/T @0xTria & @tervelix for his dashboard)
- 5th largest perp DEX by open interest of $276M, overtaking dYdX
- $2.9B Volume Traded (second only to Hyperliquid)
(H/T @hansolar21 for his dashboard)
Something really interesting to take note is the “Retail” (users with less than $10K deposited) segment takes up 90% of Lighter’s wallet population rn. “Dolphins” ($10K-$100K) are about 7% while “Whales” (>$100K) are 2.1%.
(H/T @tervelix for his dashboard)
To date, ~6.4M Lighter points have been distributed. Most are predicting the points program to fully end at the 10/12M mark, which means we are about 53% to 64% of the way to TGE. It’s not too early or too late in the grand scheme of things.
Points are still heavily skewed towards “good trading” whereby PnL, Sharpe ratio (which is extremely hard to maintain and is not just a vanity metric), holding period all plays a role. Your key is to remain consistent since a fixed amount of points are being distributed each week
Most people rush or get too trigger happy the moment they enter and then get disappointed when they realise spamming trades literally doesn’t generate much points (if at all).
It’s defo not an easy points farm. You gotta show up every week, trade to the best of your ability and try to be as profitable as possible. FWIW, using Lighter forced me to think through my trades deeply and results in better outcomes (with zero fees!)
If you are already living and breathing perps trading either on CEX/DEX anyway, why not score some points as a testament to your trading abilities? Points are rewarded based on meritocracy, the better you trade, the better your points.
Imo, with the current growth trajectory of Lighter, I am expecting TVL to hit north of $500M by TGE, and add in some moon math, I think it is not unrealistic to see points in the range of $30-$60/Point. (Feel free to DM to discuss how I reach this figure).
I have a couple of referral codes up for grabs. I still think points are doable as long as it is still gated.
Tagging all the @Lighter_xyz chads
@vnovakovski
@manud_p
@DoNotTTS
@evadacat
@tervelix
@onchainmonk
@fiyalkin
@cryptoyaos
@zerokn0wledge_
@DiogenesCasares
@satoshiheist
@beingivish
@hansolar21
@33lessons
@mttbck17
@Etherean007
@Oggy_Defi
@NewPaguinfo
@moneyfet1sh
@DeFiMinty
@ruslan55x
@0xTria
@Coinisan
@IPALAU1
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