# Lighter

> Track Lighter's fees, revenue, TVL and market cap with daily on-chain data across 6 chains. Compare Lighter with other derivative exchanges. Updated daily.

Source: [Lighter on Token Terminal](https://tokenterminal.com/explorer/projects/lighter). This page has no metric values. For current values, use the [Token Terminal API](https://tokenterminal.com/docs/api-reference/introduction) or the [MCP server](https://tokenterminal.com/docs/mcp/introduction).

- Token: LIT
- Sectors: Derivative exchanges
- Chains: arbitrum, ethereum, lighter, optimism, polygon, robinhoodchain

## About

### What it is

Lighter is an app-specific zk-rollup (L2) purpose-built for order book trading. It operates its own chain with a custom execution environment, settling to Ethereum. The protocol supports perpetual futures and spot markets with sub-second finality and zero MEV.

### Who uses it

Lighter team and investors own and govern the protocol. Lighter's investors include a16z, Lightspeed, Coatue, etc.

### How it works

Lighter generates revenue through trading fees charged to takers on its on-chain order book. The protocol retains all fees as revenue.

## Metrics

Token Terminal tracks these metrics for Lighter daily. Each page has a chart with the full history.

- [Price](https://tokenterminal.com/explorer/projects/lighter/metrics/price)
- [Fully diluted market cap](https://tokenterminal.com/explorer/projects/lighter/metrics/market-cap-fully-diluted)
- [Circulating market cap](https://tokenterminal.com/explorer/projects/lighter/metrics/market-cap-circulating)
- [Token trading volume](https://tokenterminal.com/explorer/projects/lighter/metrics/token-trading-volume)
- [Token turnover (fully diluted)](https://tokenterminal.com/explorer/projects/lighter/metrics/token-turnover-fully-diluted)
- [Token turnover (circulating)](https://tokenterminal.com/explorer/projects/lighter/metrics/token-turnover-circulating)
- [Token holders](https://tokenterminal.com/explorer/projects/lighter/metrics/tokenholders)
- [Circulating supply](https://tokenterminal.com/explorer/projects/lighter/metrics/token-supply-circulating)
- [Total value locked](https://tokenterminal.com/explorer/projects/lighter/metrics/tvl)
- [Notional trading volume](https://tokenterminal.com/explorer/projects/lighter/metrics/notional-trading-volume)
- [Fees](https://tokenterminal.com/explorer/projects/lighter/metrics/fees)
- [Supply-side fees](https://tokenterminal.com/explorer/projects/lighter/metrics/fees-supply-side)
- [Revenue](https://tokenterminal.com/explorer/projects/lighter/metrics/revenue)
- [P/F ratio (fully diluted)](https://tokenterminal.com/explorer/projects/lighter/metrics/pf-fully-diluted)
- [P/F ratio (circulating)](https://tokenterminal.com/explorer/projects/lighter/metrics/pf-circulating)
- [P/S ratio (fully diluted)](https://tokenterminal.com/explorer/projects/lighter/metrics/ps-fully-diluted)
- [P/S ratio (circulating)](https://tokenterminal.com/explorer/projects/lighter/metrics/ps-circulating)
- [Trade count](https://tokenterminal.com/explorer/projects/lighter/metrics/trade-count)
- [Take rate](https://tokenterminal.com/explorer/projects/lighter/metrics/take-rate)

## Links

- [github](https://github.com/elliottech/lighter-v2-core)
- [twitter](https://twitter.com/Lighter_xyz)
- [discord](https://discord.gg/7G6av5rZ)
- [website](https://lighter.xyz/)