Robinhood Lighter

Lighter is a zero-knowledge perpetual futures exchange that runs as its own Ethereum L2. It launched mainnet in October 2025 and distributed LIT in December, which means the original Seasons 1 and 2 farm is long finished. This is a separate, newer program.

On 1 July 2026 Robinhood launched Robinhood Chain, an Arbitrum Orbit L2, and made Lighter the chain’s perpetuals venue — the derivatives pillar alongside Uniswap and Pleiades for spot. This is not a casual deployment. It is Lighter’s first “Lighter Domain”, a dedicated instance quoted in USDG, with revenue split 50/50 between the two companies and an integration reportedly structured as a 12-year arrangement. Robinhood Ventures had already joined Lighter’s $68M round in November 2025.

Alongside the launch, Lighter committed 11 million LIT to the Robinhood community, distributed through a points program. Points accrue from perpetuals trading volume and convert directly into LIT — 2x when you trade through Robinhood Wallet, 1x on Lighter’s own web app. Points are awarded in real time with a weekly drop each Friday.

The early window is mostly gone. Weekly perp volume through Robinhood went from roughly $373M to $1.49B after the program began, with about 73% of it routing through Lighter, and cumulative volume on the integration has passed $10B. That is the tension worth naming: the pool is a fixed 11M LIT, so every new trader dilutes everyone else’s share. This was a genuinely uncrowded farm in July. It is a crowded one now.

What keeps it interesting anyway is that the reward is a liquid token with a real venue behind it rather than a speculative points balance, and the distribution funnel is Robinhood’s — a user base that does not overlap much with the usual farming crowd. If you were going to trade perps this quarter regardless, routing that volume through Robinhood Wallet is close to free optionality. If you are opening leveraged positions purely to farm points, price the liquidation risk honestly first.