Here are two important updates in the perp sector today: 1. Lighter points rules released: Market makers get exclusive 50K points weekly, users get exclusive 200K points. **Market maker section:** Formula: score = volume + max(0, (volume − 2.5B) × 0.25) LLP is also considered a market maker, so small funds don’t need to join the crowd—it won’t earn much anyway. **User section:** Factors affecting points: trading volume, OI, fund size, liquidation, profit. Advanced users have higher weight (with fees). Higher weight for trading altcoins. Anti-sybil measures: max 10 addresses per user. Official docs: https://docs.lighter.xyz/points-program/market-makers 2. Backpack starts compensating victims of the 1011 liquidation: ✅ Deposits before settlement will be fully refunded. ✅ BTC lending ADL will be fully compensated. ✅ Low-leverage arbitrage positions will be fully compensated; high-leverage positions will be refunded proportionally. ✅ All liquidation fees will be refunded at 50%. Looks like the founder finally woke up after being roasted by @daidaibtc, but I still stand by my original judgment: the founder’s personality is the biggest variable for this project—success or failure depends on Armani. Armani can bring compliance and access to US stocks, but also a cold and unfriendly trading platform, which is quite user-unfriendly and could crash at any time. Using L2 as an analogy: hyperliquid is like OP, aster is like ARB, and the spot for strk is still vacant. The most likely candidate is lighter, which is set to launch its token in December, though it could be overtaken by other projects. In the meantime, there will be smaller players like manta and zkfair. But without a doubt, the last project to launch its token will be the underwhelming zk.