RiseX

RISEx is a fully on-chain perpetual futures exchange on RISE Chain, offering CEX-level speed with self-custody and DeFi composability. Its Season 1 “Ignite” points program has been running since 20 July 2026 and is expected to continue into Q2 2027, distributing 200,000 points per week (usually Tuesdays, with snapshots around Sunday 23:59 UTC).

Points come from maker and taker volume, open interest and how long positions are held, fees, slippage and markouts, overall trading quality, XLP liquidity provision, and referrals (10% of what your referees earn). Occasional RWA boosts add roughly 20% on select markets like XAU, XAG, CL, SPY and QQQ. Volume alone won’t carry you — position duration and trade quality matter, which keeps plain wash trading from working well.

No TGE date, conversion rate, or airdrop has been confirmed. Check the official RISEx platform and RISE Chain docs for the latest rules.

A few things to keep in mind

Perpetual futures carry real risk, and a delta-neutral setup reduces price exposure but doesn’t remove risk altogether:

Liquidation risk. Each leg sits on a separate exchange with its own margin. If one side moves sharply against you and that account runs low on collateral, it can be liquidated even though your overall position is balanced. Keep leverage low and hold spare margin on both sides.
Funding costs. Rates change constantly. A trade that looks profitable today can bleed if funding flips against you.
Execution and slippage. Opening and closing both legs at different times or prices leaves you briefly exposed and costs you on the spread.
Platform risk. These are new protocols. Smart contract bugs, outages and withdrawal issues are all possible — only deposit what you can afford to lose.
No guaranteed reward. There’s no confirmed TGE, conversion rate or airdrop. Points may end up worth nothing.

Not financial advice — do your own research.

Tips: Funding rates on both legs will eat into your returns, so check them before you size up — ideally you want the funding to be in your favour, or at least small. Also keep positions open for a while rather than flipping in and out, since position duration counts toward your points.

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.