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Lighter to Distribute 250,000 Points as Compensation to Traders Affected by Market Crash
Summary: Lighter, a perpetual contract trading platform, announced that it will distribute 250,000 points as compensation to traders affected by the market crash. The compensation will be divided into three categories: Firstly, due to platform performance issues before the market crash, resulting in traders losing approximately $25 million, the platform will distribute 150,000 points and refund ...
Lighter, a perpetual contract trading platform, announced that it will distribute 250,000 points as compensation to traders affected by the market crash. The compensation will be divided into three categories: Firstly, due to platform performance issues before the market crash, resulting in traders losing approximately $25 million, the platform will distribute 150,000 points and refund the liquidation fees (paid in USDC); Secondly, during the market collapse, LLP asset holders experienced a 5% decline, and the platform will distribute 25,000 points as compensation and further clarify LLP's liquidity mechanism in technical documents; Lastly, approximately 5 hours after the market recovery, the platform experienced a brief 4.5-hour shutdown due to a database failure, resulting in around $7 million in losses. As a result, an additional 75,000 points will be distributed along with a refund of related liquidation fees. Additionally, Lighter announced that the second quarter points distribution event will begin on October 17th and will take place every Friday, with an initial airdrop of 600,000 points.
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Link: Lighter to Distribute 250,000 Points as Compensation to Traders Affected by Market Crash [Copy]
