๐Welcome to Lighter DEX
What is Lighter DEX?
Lighter is fully decentralized order book exchange protocol designed for permission-less, zero slippage and MEV-protected trades.
What makes Lighter unique?
Most DEXs rely on automated market makers (AMMs) to enable the buying and selling of assets, and although important, theyโre far from perfect. AMMs are capital inefficient, routinely prone to risks like sandwich attacks and impermanent loss, and cannot price non-spot assets.
By using the order book model, Lighter DEX solves these issues like a centralized exchange (e.g. Binance), but retains the benefits full decentralization and being permission-less.
What this means for Market Makers
For a long time, on-chain order books were inconvenient to use because of high gas fees and scalability issues. Thanks to the recent achievements in L2 scaling solutions, these issues won't be a problem for market makers anymore. With the negligible fees on L2 chains and instant finality, the market making experience won't be different than on traditional order book exchanges.
What this means for Traders
By using order book model and L2 scaling solutions, traders benefit from:
Zero Slippage
By using limit orders, traders are in control of the prices.
Better Prices
Thanks to low costs in L2, traders will get better prices.
Trustless
Lighter doesn't need you to deposit tokens before using the exchange. Traders can start trading immediately with their decentralized wallets, and their orders are kept in contracts, not in Lighter servers.
Last updated