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LighterEthereum L2 · off-chain matching

Facts

Chain
Ethereum L2
Order Book Type
off-chain matching
Withdrawal control
Ethereum zk-rollup: validity proofs verified on L1, data on Ethereum blobs. Withdrawals go to an L1 priority queue; if unprocessed for 14 days, users exit via a "desert mode" ZK proof (escape hatch). The centralised single sequencer can delay/censor short of that window.
Operator surface
Lighter-operated single sequencer (L2BEAT Stage 0). Backed by the Lighter Liquidity Pool (LLP) + ADL as the final solvency backstop.
Upgrade authority
A 21-day upgrade timelock exists, BUT a Security Council multisig (4/7) can reduce it to zero. L2BEAT flags this critical ("instantly upgradable, no exit window"). ZK circuits audited by zkSecurity (6 reports); no separate standalone Solidity-contract audit; bug bounty is "coming soon".
Multisig
See venue docs
Last SolGov check
n/a
Incident history
  • 2025-10-11
    Single-sequencer database failure under load during the liquidation event across the whole market: ~4.5-5h downtime, 3 batches lost, ~5.35% LLP reduction; no funds stolen.
    source

Chain, orderbook type, withdrawal control and operator surface are sourced from Lighter's own documentation. If a field is wrong or out of date, the source link is the authoritative reference.

Sources

  • Lighter docs
  • Audit reports

Router status

EdgeVault doesn't route this today because it's chart-only or oracle-layer

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