Galaxy Digital: Lighter's RWA Accounts for 70% of Open Interest

Decentralized derivatives exchange Lighter has integrated with Robinhood Chain, with real-world assets (RWA) accounting for 70% of total open interest, according to Galaxy Digital. On July 15, Galaxy Digital discussed Lighter's business direction and recent cryptocurrency market adjustments in a podcast. The discussion included Bitcoin (BTC) price movements down to $77,000 amid rising oil prices, U.S. Federal Open Market Committee (FOMC) interest rate decisions, and regulatory developments including the Clarity Act vote on futures regulation and CFTC licensing pathways.

While specific voting results or Lighter's approval timeline were not disclosed, Robinhood announced in July that eligible users in certain jurisdictions can access Lighter's perpetual futures through the Robinhood Wallet. Robinhood also stated that it allocated 11 million LIT tokens for Lighter's community, with trading conducted via self-custody wallets and Lighter's smart contracts. Robinhood Chain has positioned itself as infrastructure for tokenized stocks and RWA.

Galaxy Digital described Lighter's partnership model as a 'white-glove' approach within its partner services, integrating order and settlement functions. The firm noted that RWA constitutes 70% of Lighter's open interest. Lighter operates a no-fee trading model for individual users, with all trading revenue directed toward LIT buybacks—though the scale, timing, and execution method remain undisclosed. Future products include on-chain order book-based options and cross-collateralized portfolio margin, though release dates were not specified.

Lighter emphasizes its Ethereum-based zero-knowledge rollup and order book trading structure, with its official website stating that it generates proof for the entire trading process including order matching and liquidation.