Lighter EVM Devnet Opens for Testing
Lighter opened its EVM devnet on October 16. Built in collaboration with Axiom and powered by OpenVM, it shares a single ZK proof with Lighter Core to settle on Ethereum. Developers can deploy using Foundry, Hardhat, Viem, and Ethers. At the contract layer, they can read Core account, balance, position, and order book data, and place, modify, or cancel orders directly. Assets can move between L1, Core, and EVM. Applications are currently by email, with access being granted in batches.
A devnet doesn’t mean funds are flowing in. If this approach really works, market-making teams will be able to place and cancel orders directly against the order book from contracts, paying only the small proof fees at the settlement layer, with almost no fluctuation in gas demand. The perpetual market-making share of would be taken away, and expectations for L2 liquidity would also be diluted by competition from the same sector. There’s no token, no public access, and Core’s open interest and deposits haven’t shown a net increase. These assets’ bulls have no substantial buying support, so a rebound to the previous high-volume trading area would be a place to reduce positions. The strength of support on a pullback depends on Core deposit data. In the short term, expect weak, range-bound trading.
For those of you holding , what’s your cost basis, and would you dare to move your position over when Lighter really opens to the public?
$ETH $DYDX $ARB
Lighter opened its EVM devnet on October 16. Built in collaboration with Axiom and powered by OpenVM, it shares a single ZK proof with Lighter Core to settle on Ethereum. Developers can deploy using Foundry, Hardhat, Viem, and Ethers. At the contract layer, they can read Core account, balance, position, and order book data, and place, modify, or cancel orders directly. Assets can move between L1, Core, and EVM. Applications are currently by email, with access being granted in batches.
A devnet doesn’t mean funds are flowing in. If this approach really works, market-making teams will be able to place and cancel orders directly against the order book from contracts, paying only the small proof fees at the settlement layer, with almost no fluctuation in gas demand. The perpetual market-making share of would be taken away, and expectations for L2 liquidity would also be diluted by competition from the same sector. There’s no token, no public access, and Core’s open interest and deposits haven’t shown a net increase. These assets’ bulls have no substantial buying support, so a rebound to the previous high-volume trading area would be a place to reduce positions. The strength of support on a pullback depends on Core deposit data. In the short term, expect weak, range-bound trading.
For those of you holding , what’s your cost basis, and would you dare to move your position over when Lighter really opens to the public?
$ETH $DYDX $ARB