Summary Value Secured Milestones & Incidents Risk summary Risk analysis Stage Data availability State validation Updates Operator Withdrawals Other considerations Permissions Smart contracts

Lighter on Robinhood

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About

Lighter on Robinhood is an application-specific ZK rollup deployed on Robinhood Chain. It is a fork of Lighter adapted to use Global Dollar (USDG) as its quote and margin asset.

Explorer

Total Value SecuredTVS

$21.45 M243%

Past day UOPSDaily UOPS

No data

Type

Other

Purpose

Exchange

Host chain

Robinhood Chain

Tokens breakdown

Value secured breakdown

0.00% with additional trust assumptions

View TVS breakdown

Sequencer failureState validationData availabilityExit windowProposer failure

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About

Lighter on Robinhood is an application-specific ZK rollup deployed on Robinhood Chain. It is a fork of Lighter adapted to use Global Dollar (USDG) as its quote and margin asset.

Why is the project listed in others?

There are less than 5 external actors that can submit challenges

Consequence: projects without a sufficiently decentralized set of challengers rely on few entities to safely update the state. A small set of challengers can collude with the proposer to finalize an invalid state, which can cause loss of funds.

Learn more about the recategorisation here.

Value Secured View TVS breakdown

Exclude restricted RWA tokens

Total

Canonically BridgedCanonically Bridged ValueCanonical

Natively MintedNatively Minted TokensNative

Externally BridgedExternally Bridged ValueExternal

ETH & derivatives

Stablecoins

BTC & derivatives

Other

View TVS breakdown

Milestones & Incidents

Robinhood launches Lighter perpetuals integration

2026 Jul 1st

Robinhood announces Lighter perpetual futures in Robinhood Wallet on public mainnet.

Learn more

Lighter contracts deployed on Robinhood Chain

2026 Jun 26th

The USDG-based Lighter fork is deployed on Robinhood Chain.

Learn more

Risk summary

There are 6 additional risks coming from the host chain

Robinhood Chain

The L3 risks depend on the individual properties of L3 and those of the host chain combined.

	SEQUENCER FAILURE	STATE VALIDATION	DATA AVAILABILITY	EXIT WINDOW	PROPOSER FAILURE
Robinhood Chain L2	No mechanism	Fraud proofs (INT)	Onchain	None	Self propose
Lighter on Robinhood L3 • Individual	Force via L1	Validity proofs (SN)	Onchain (SD)	None	Use escape hatch
Lighter on Robinhood L3 • Combined	No mechanism	Fraud proofs (INT)	Onchain	None	Use escape hatch

L2 & L3 individual risks

Sequencer failureState validationData availabilityExit windowProposer failure

L3 combined risks

Sequencer failureState validationData availabilityExit windowProposer failure

L3 combined risks

The information below reflects combined L2 & L3 risks.

Sequencer failure

No mechanism

There is no guaranteed mechanism to have transactions included if the sequencer is down or censoring. Although users can enqueue messages in the L1 delayed inbox and call forceInclusion on the SequencerInbox, the chain runs ArbOS 61 transaction filtering: an authorized filterer can register any transaction hash in the ArbFilteredTransactionsManager precompile (0x00…0074), after which the state transition function forcibly fails that transaction, including force-included ones, without delay.

State validation

Fraud proofs (INT)

Fraud proofs only allow 2 WHITELISTED actors watching the chain to prove that the state is incorrect. Interactive proofs (INT) require multiple transactions over time to resolve. The challenge protocol can be subject to delay attacks. There is a 6d 8h challenge period.

Data availability

Onchain

All of the data needed for proof construction is published on the base chain, which ultimately gets published on Ethereum.

Exit window

None

There is no window for users to exit in case of an unwanted upgrade since contracts are instantly upgradable.

Proposer failure

Use escape hatch

Users are able to trustlessly exit by submitting a zero knowledge proof of funds.

Stage

Lighter on Robinhood is not even a

Stage 0

Appchain

project.

There is no available node software that can reconstruct the state from L1 data, hence there is no way to verify that this system is a rollup.

Learn more about Stages

Please keep in mind that these stages do not reflect project security, this is an opinionated assessment of project maturity based on subjective criteria, created with a goal of incentivizing projects to push toward better decentralization. Each team may have taken different paths to achieve this goal.

Data availability

State differences posted on Robinhood Chain

The state differences required to reconstruct and prove the Lighter state are included directly in commitBatch calldata on Robinhood Chain. Unlike the Ethereum deployment, the Lighter contract does not read EIP-4844 blob hashes. Robinhood Chain subsequently batches its own transaction data to Ethereum blobs.

Learn more about the DA layer here:

Robinhood Chain

State validation

Each update to the system state must be accompanied by a ZK proof that ensures that the new state was derived by correctly applying a series of valid transactions to the previous state. These proofs are verified on Robinhood Chain by a smart contract. In desert mode, users can provide proofs of their balances to exit, which is validate by the DesertVerifier.

Verification Keys Generation

Lighter uses a Plonk-based proof system which requires a trusted setup. The verification keys are hardcoded in the verifier contract on-chain. The Lighter prover repository contains a script that regenerates circuits and verification keys, but it does not reproduce the verification keys used by this deployment.

ZK Lighter verifier verification keys

Validity proofs

State updates are verified by the ZkLighterVerifier contract. Desert verifier consists of circuits proving valid L2 -> L1 withdrawals in the desert mode. More details in ZK Catalog.

Deployed DesertVerifier implementation

PROVER

Lighter

Trusted Setups

Onchain verifier

ZkLighterVerifier

DesertVerifier

Used in

Onchain verifier

ZkLighterVerifier

DesertVerifier

Used in

Updates

2026 August 19, 10:52 UTC

4changes

Verified all contracts and removed spam.

New and verified contracts

	contract Lighter (robinhood:0x94bAB9693Ba2f6358507eFfcbd372b0660AFfF9d) [N/A] {
	+++ description: None
	unverified:
-	true
	implementationNames.robinhood:0x1be72833f96e47366610CCFb9Bec081FE69EECf5:
-	""
+	"AdditionalZkLighter"
	sourceHashes:
+	["0x317a8c60bf36af0b293fad7aaf9ae5d178a0c2ea316b493b5c8b962d4daea6f6","0x7ce2f744c6d607ee57b68b69025659533ae352619bab2cea5c26e5cc9175d95d"]
	}

2026 August 13, 10:10 UTC

High severity

16changes

Network governor and upgrade master changed from an EOA to a 3/5 ms (old EOA is one of the members). Also, many lighter contract fields got discovered, probably due to one of the contracts becoming verified.

Network governor and upgrade master changed from an EOA to a 3/5 ms (old EOA is one of the members).

Also, many lighter contract fields got discovered, probably due to one of the contracts becoming verified.

	EOA Lighter Governor (robinhood:0x42cDb51c23D03c69c05Fa691c3B5517Ace876213) {
	+++ description: None
	receivedPermissions:
-	[{"permission":"interact","from":"robinhood:0xf6F6Bd6eEA2b9A2041328732CcAe4c5e1DD278B7","description":"manage validators, update the address that manages the insurance fund, update the treasury address that collects fees from markets, add and update markets and assets.","role":".networkGovernor"},{"permission":"upgrade","from":"robinhood:0x94bAB9693Ba2f6358507eFfcbd372b0660AFfF9d","role":"admin","via":[{"address":"robinhood:0x43CfF77CD060A155dCe5deb12B93b875f69F2716","delay":1814400}]},{"permission":"upgrade","from":"robinhood:0xe1aFBE2D670eFF0e7C8A41F080792C011916ac31","role":"admin","via":[{"address":"robinhood:0x43CfF77CD060A155dCe5deb12B93b875f69F2716","delay":1814400}]},{"permission":"upgrade","from":"robinhood:0xf6F6Bd6eEA2b9A2041328732CcAe4c5e1DD278B7","role":"admin","via":[{"address":"robinhood:0x43CfF77CD060A155dCe5deb12B93b875f69F2716","delay":1814400}]}]
	directlyReceivedPermissions:
-	[{"permission":"act","from":"robinhood:0x43CfF77CD060A155dCe5deb12B93b875f69F2716","delay":1814400,"role":".getMaster"}]
	eoaWithUpgradePermissions:
-	true
	}

	contract UpgradeGatekeeper (robinhood:0x43CfF77CD060A155dCe5deb12B93b875f69F2716) [lighter/UpgradeGatekeeper] {
	+++ description: Governance contract functioning like an upgrade timelock for downstream contracts. The current delay is 21d and can be entirely skipped by robinhood:0x4972E0CaCb2AC45644BA054838e96fF4f6f7eFDb.
	+++ severity: HIGH
	values.getMaster:
-	"robinhood:0x42cDb51c23D03c69c05Fa691c3B5517Ace876213"
+	"robinhood:0x8Caf9FF9392F39E87cBC65A130c026caaCD321ef"
	}

	contract Lighter (robinhood:0x94bAB9693Ba2f6358507eFfcbd372b0660AFfF9d) [N/A] {
	+++ description: None
	values.lastVerifiedStateRoot:
-	"0x7bb3507766d0a6cf31a2fcc1e3185206f797ce0fac1126dc276e1be5de9a8135"
+	"0x0baaad506ee8ac901c9464f0aa869df325e25c5720ebaf12fe0088652a908c88"
	values.lastVerifiedValidiumRoot:
-	"0x479fc285e15020f8af391a5de57116592c83633d7a7384a93df0261bee1042d7"
+	"0x941b1cc85a411f5ce91565555a0778cdd701e5299f2abda7e1dc31353f8dbfc9"
	values.stateRoot:
-	"0x7bb3507766d0a6cf31a2fcc1e3185206f797ce0fac1126dc276e1be5de9a8135"
+	"0x0baaad506ee8ac901c9464f0aa869df325e25c5720ebaf12fe0088652a908c88"
	values.validiumRoot:
-	"0x479fc285e15020f8af391a5de57116592c83633d7a7384a93df0261bee1042d7"
+	"0x941b1cc85a411f5ce91565555a0778cdd701e5299f2abda7e1dc31353f8dbfc9"
	}

	contract Governance (robinhood:0xf6F6Bd6eEA2b9A2041328732CcAe4c5e1DD278B7) [lighter/Governance] {
	+++ description: Manages the list of validators and the network governor.
	+++ severity: HIGH
	values.networkGovernor:
-	"robinhood:0x42cDb51c23D03c69c05Fa691c3B5517Ace876213"
+	"robinhood:0x8Caf9FF9392F39E87cBC65A130c026caaCD321ef"
	}

+	Status: CREATED
	contract SafeL2 (robinhood:0x8Caf9FF9392F39E87cBC65A130c026caaCD321ef) [GnosisSafe]
	+++ description: None

2026 August 03, 14:31 UTC

4changes

Verified the source code of desert verifier. It is equivalent to the one in Lighter deployment on Ethereum.

New and verified contracts

	contract DesertVerifier (robinhood:0x56aeED6920DBB9E198C2C0072147A45684A06E10) [N/A] {
	+++ description: None
	unverified:
-	true
	implementationNames.robinhood:0x56aeED6920DBB9E198C2C0072147A45684A06E10:
-	""
+	"DesertVerifier"
	sourceHashes:
+	["0xcedbddf6ef097d451ba200328780c0cc492b65383f8dc44e760ec70eee4f8850"]
	}

2026 July 20, 11:13 UTC

High severity

68changes

Lighter Robinhood upgraded ZkLighter and AdditionalZkLighter contracts and replaced the desert-mode verifier. The new implementations are not verified on Blockscout, so their source cannot be fetched.

	contract UpgradeGatekeeper (robinhood:0x43CfF77CD060A155dCe5deb12B93b875f69F2716) [lighter/UpgradeGatekeeper] {
	+++ description: Governance contract functioning like an upgrade timelock for downstream contracts. The current delay is 21d and can be entirely skipped by robinhood:0x4972E0CaCb2AC45644BA054838e96fF4f6f7eFDb.
	values.versionId:
-	3
+	4
	}

-	Status: DELETED
	contract DesertVerifierAlwaysTrueOld (robinhood:0x443Cc0c7f773D0955E3Bd8DA393b708152cFA5Bc) [lighter/DesertVerifierAlwaysTrue]
	+++ description: The verifier used for desert-mode withdrawals. It does not validate proofs or public inputs.

	contract Lighter (robinhood:0x94bAB9693Ba2f6358507eFfcbd372b0660AFfF9d) [N/A] {
	+++ description: None
	template:
-	"lighter/ZkLighterWithSpotQuoteAsset"
	sourceHashes:
-	["0x317a8c60bf36af0b293fad7aaf9ae5d178a0c2ea316b493b5c8b962d4daea6f6","0x86f638acded19238eadee62f3969d0beb270e3406a22bb47e816b5a3b0acdd42"]
	description:
-	"The main rollup contract. It processes L2 batches, manages token deposits and withdrawals, allows users to submit priority requests and controls desert mode (escape hatch). This variant uses a configurable quote asset and commits state differences through host-chain calldata instead of EIP-4844 blob hashes. Logic is split between two contracts because of code-size limits, with many operations delegated to AdditionalZkLighter."
	values.$implementation.0:
-	"robinhood:0x6C23703ba62a845893758ea35E5eD854639ef8BA"
+	"robinhood:0xE470e41Cacc197EA07f879577765A8c81234ED7B"
	values.$implementation.1:
-	"robinhood:0x57af7CA7F40Ee33ac974c4eE864932241671c7D4"
+	"robinhood:0x1be72833f96e47366610CCFb9Bec081FE69EECf5"
	values.additionalZkLighter:
-	"robinhood:0x57af7CA7F40Ee33ac974c4eE864932241671c7D4"
+	"robinhood:0x1be72833f96e47366610CCFb9Bec081FE69EECf5"
	values.assetConfigNative:
-	{"tokenAddress":"robinhood:0x0000000000000000000000000000000000000000","withdrawalsEnabled":1,"extensionMultiplier":100,"tickSize":10000000000,"depositCapTicks":"1152921504606846975","minDepositTicks":100000}
	values.assetConfigQuote:
-	{"tokenAddress":"robinhood:0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168","withdrawalsEnabled":1,"extensionMultiplier":1000000,"tickSize":1,"depositCapTicks":"1152921504606846975","minDepositTicks":1000000}
	values.committedBatchesCount:
-	17940
	values.committedPriorityRequestCount:
-	1213
	values.createdMarkets:
-	["ETH","BTC","HYPE","SOL","ZEC","LIT","XRP","NEAR","VVV","SUI","AAPL","AMZN","GOOGL","META","MSFT","NVDA","TSLA","ORCL","SPCX","BABA","BE","USAR","USO","COIN","CRCL","QQQ","SPY","SGOV","SLV","AMD","INTC","MU","SNDK","CRWV","PLTR","AAPL/USDG","AMZN/USDG","GOOGL/USDG","META/USDG","MSFT/USDG","NVDA/USDG","TSLA/USDG","ORCL/USDG","SPCX/USDG","BABA/USDG","BE/USDG","USAR/USDG","USO/USDG","COIN/USDG","CRCL/USDG","QQQ/USDG","SPY/USDG","SGOV/USDG","SLV/USDG","AMD/USDG","INTC/USDG","MU/USDG","SNDK/USDG","CRWV/USDG","PLTR/USDG","ETH/USDG","SOXL","CASHCAT"]
	values.desertMode:
-	false
	+++ severity: HIGH
	values.desertVerifier:
-	"robinhood:0x443Cc0c7f773D0955E3Bd8DA393b708152cFA5Bc"
+	"robinhood:0x56aeED6920DBB9E198C2C0072147A45684A06E10"
	values.executedBatchesCount:
-	17874
	values.executedOnChainBatchesCount:
-	323
	values.executedPriorityRequestCount:
-	1210
	values.getTarget:
-	"robinhood:0x6C23703ba62a845893758ea35E5eD854639ef8BA"
+	"robinhood:0xE470e41Cacc197EA07f879577765A8c81234ED7B"
	values.insuranceFundOperator:
-	"robinhood:0x6cCdD1f3f599C69fA74eeDc3dab28559fe99aB0A"
	values.lastAccountIndex:
-	534
	values.lastVerifiedEndBlockNumber:
-	2882902
	values.lastVerifiedStateRoot:
-	"0xd34c146306c2222cccb52d484adb883b4ae4c823ec6d8830406124275070af05"
	values.lastVerifiedValidiumRoot:
-	"0x30f7666dda3b578e15770e3dd89523474811e9c75b2d861a7194e96ca6cb1108"
	values.MAX_ACCOUNT_INDEX:
-	281474976710654
	values.MAX_API_KEY_INDEX:
-	254
	values.MAX_ASSET_INDEX:
-	62
	values.MAX_BATCH_DEPOSIT_LENGTH:
-	1000
	values.MAX_DEPOSIT_CAP_TICKS:
-	"1152921504606846975"
	values.MAX_MASTER_ACCOUNT_INDEX:
-	140737488355327
	values.MAX_ORDER_BASE_AMOUNT:
-	281474976710655
	values.MAX_ORDER_PRICE:
-	4294967295
	values.MAX_ORDER_QUOTE_AMOUNT:
-	281474976710655
	values.MAX_PERPS_MARKET_INDEX:
-	254
	values.MAX_POOL_SHARES_TO_MINT_OR_BURN:
-	"1152921504606846975"
	values.MAX_SPOT_MARKET_INDEX:
-	4094
	values.MAX_STAKING_SHARES_TO_MINT_OR_BURN:
-	"1152921504606846975"
	values.MAX_TICK_SIZE:
-	"340282366920938463463374607431768211455"
	values.MIN_ASSET_INDEX:
-	1
	values.MIN_ORDER_PRICE:
-	1
	values.MIN_POOL_SHARES_TO_MINT_OR_BURN:
-	1
	values.MIN_SPOT_MARKET_INDEX:
-	2048
	values.MIN_STAKING_SHARES_TO_MINT_OR_BURN:
-	1
	values.NATIVE_ASSET_INDEX:
-	1
	values.NIL_ACCOUNT_INDEX:
-	281474976710655
	values.openPriorityRequestCount:
-	3
	values.pendingOnChainBatchesCount:
-	0
	values.QUOTE_ASSET_INDEX:
-	3
	values.registeredAssets:
-	[{"assetIndex":1,"tokenAddress":"robinhood:0x0000000000000000000000000000000000000000"},{"assetIndex":3,"tokenAddress":"robinhood:0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168"},{"assetIndex":4,"tokenAddress":"robinhood:0xaF3D76f1834A1d425780943C99Ea8A608f8a93f9"},{"assetIndex":5,"tokenAddress":"robinhood:0x12f190a9F9d7D37a250758b26824B97CE941bF54"},{"assetIndex":6,"tokenAddress":"robinhood:0x2e0847E8910a9732eB3fb1bb4b70a580ADAD4FE3"},{"assetIndex":7,"tokenAddress":"robinhood:0xc0D6457C16Cc70d6790Dd43521C899C87ce02f35"},{"assetIndex":8,"tokenAddress":"robinhood:0xe93237C50D904957Cf27E7B1133b510C669c2e74"},{"assetIndex":9,"tokenAddress":"robinhood:0xd0601CE157Db5bdC3162BbaC2a2C8aF5320D9EEC"},{"assetIndex":10,"tokenAddress":"robinhood:0x322F0929c4625eD5bAd873c95208D54E1c003b2d"},{"assetIndex":11,"tokenAddress":"robinhood:0xb0992820E760d836549ba69BC7598b4af75dEE03"},{"assetIndex":12,"tokenAddress":"robinhood:0x4a0E65A3EcceC6dBe60AE065F2e7bb85Fae35eEa"},{"assetIndex":13,"tokenAddress":"robinhood:0xad25Ac6C84D497db898fa1E8387bf6Af3532a1c4"},{"assetIndex":14,"tokenAddress":"robinhood:0x822CC93fFD030293E9842c30BBD678F530701867"},{"assetIndex":15,"tokenAddress":"robinhood:0xd917B029C761D264c6A312BBbcDA868658eF86a6"},{"assetIndex":16,"tokenAddress":"robinhood:0xa30FA36Db767ad9eD3f7a60fC79526fB4d56D344"},{"assetIndex":17,"tokenAddress":"robinhood:0x6330D8C3178a418788dF01a47479c0ce7CCF450b"},{"assetIndex":18,"tokenAddress":"robinhood:0xdF0992E440dD0be65BD8439b609d6D4366bf1CB5"},{"assetIndex":19,"tokenAddress":"robinhood:0xD5f3879160bc7c32ebb4dC785F8a4F505888de68"},{"assetIndex":20,"tokenAddress":"robinhood:0x117cc2133c37B721F49dE2A7a74833232B3B4C0C"},{"assetIndex":21,"tokenAddress":"robinhood:0x92FD66527192E3e61d4DDd13322Aa222DE86F9B5"},{"assetIndex":22,"tokenAddress":"robinhood:0x411eFb0E7f985935DAec3D4C3ebaEa0d0AD7D89f"},{"assetIndex":23,"tokenAddress":"robinhood:0x86923f96303D656E4aa86D9d42D1e57ad2023fdC"},{"assetIndex":24,"tokenAddress":"robinhood:0xc72b96e0E48ecd4DC75E1e45396e26300BC39681"},{"assetIndex":25,"tokenAddress":"robinhood:0xfF080c8ce2E5feadaCa0Da81314Ae59D232d4afD"},{"assetIndex":26,"tokenAddress":"robinhood:0xB90A19fF0Af67f7779afF50A882A9CfF42446400"},{"assetIndex":27,"tokenAddress":"robinhood:0x5f10A1C971B69e47e059e1dC91901B59b3fB49C3"},{"assetIndex":28,"tokenAddress":"robinhood:0x894E1EC2D74FFE5AEF8Dc8A9e84686acCB964F2A"}]
	values.stateRoot:
-	"0xd34c146306c2222cccb52d484adb883b4ae4c823ec6d8830406124275070af05"
	values.stateRootUpgradeVerifier:
-	"robinhood:0x0000000000000000000000000000000000000000"
	values.treasury:
-	"robinhood:0xAc71eC137c892d02d531e48cEb1D060f9C9AC357"
	values.validiumRoot:
-	"0x30f7666dda3b578e15770e3dd89523474811e9c75b2d861a7194e96ca6cb1108"
	values.verifiedBatchesCount:
-	17874
	values.verifiedPriorityRequestCount:
-	1210
	fieldMeta.desertMode:
-	{"severity":"HIGH"}
	implementationNames.robinhood:0x6C23703ba62a845893758ea35E5eD854639ef8BA:
-	"ZkLighter"
	implementationNames.robinhood:0x57af7CA7F40Ee33ac974c4eE864932241671c7D4:
-	"AdditionalZkLighter"
	implementationNames.robinhood:0xE470e41Cacc197EA07f879577765A8c81234ED7B:
+	""
	implementationNames.robinhood:0x1be72833f96e47366610CCFb9Bec081FE69EECf5:
+	""
	unverified:
+	true
	}

+	Status: CREATED
	contract DesertVerifier (robinhood:0x56aeED6920DBB9E198C2C0072147A45684A06E10) [N/A]
	+++ description: None

2026 July 13, 15:02 UTC

5changes

Initial discovery of the USDG-quoted Lighter instance on Robinhood Chain.

Initial discovery

+	Status: CREATED
	contract UpgradeGatekeeper (robinhood:0x43CfF77CD060A155dCe5deb12B93b875f69F2716) [lighter/UpgradeGatekeeper]
	+++ description: Governance contract functioning like an upgrade timelock for downstream contracts. The current delay is 21d and can be entirely skipped by robinhood:0x4972E0CaCb2AC45644BA054838e96fF4f6f7eFDb.

+	Status: CREATED
	contract DesertVerifier (robinhood:0x443Cc0c7f773D0955E3Bd8DA393b708152cFA5Bc) [lighter/DesertVerifierAlwaysTrue]
	+++ description: The verifier used for desert-mode withdrawals. It does not validate proofs or public inputs.

+	Status: CREATED
	contract Lighter (robinhood:0x94bAB9693Ba2f6358507eFfcbd372b0660AFfF9d) [lighter/ZkLighterWithSpotQuoteAsset]
	+++ description: The main rollup contract. It processes L2 batches, manages token deposits and withdrawals, allows users to submit priority requests and controls desert mode (escape hatch). This variant uses a configurable quote asset and commits state differences through host-chain calldata instead of EIP-4844 blob hashes. Logic is split between two contracts because of code-size limits, with many operations delegated to AdditionalZkLighter.

+	Status: CREATED
	contract ZkLighterVerifier (robinhood:0xe1aFBE2D670eFF0e7C8A41F080792C011916ac31) [lighter/ZkLighterVerifier]
	+++ description: The main ZK verifier of Lighter, settles the proofs of correct L2 state transition in the case of normal rollup operation.

+	Status: CREATED
	contract Governance (robinhood:0xf6F6Bd6eEA2b9A2041328732CcAe4c5e1DD278B7) [lighter/Governance]
	+++ description: Manages the list of validators and the network governor.

Operator

The section considers only the L3 properties. For more details please refer to

Robinhood Chain

Centralized operators

Only the centralized operators can submit batches and verify them with a ZK proof, i.e. advance the state of the protocol. The network governor can add or remove validators.

MEV can be extracted if the operator exploits their centralized position and frontruns user transactions.

Priority requests can be submitted on Robinhood Chain

Users can submit priority requests directly to the Lighter contract on Robinhood Chain. If the operators leave the oldest request unprocessed for more than 14d, anyone can activate desert mode.

Lighter contract on Robinhood Chain

Withdrawals

The section considers only the L3 properties. For more details please refer to

Robinhood Chain

Regular exit

The user initiates the withdrawal by submitting a regular transaction on this chain. When the block containing that transaction is settled the funds become available for withdrawal on L1. ZK proofs are required to settle blocks. Finally the user submits an L1 transaction to claim the funds.

Escape hatch through ZK proofs

If the centralized operators fail to process forced transactions after the deadline, the system can be frozen (desert mode) and users are expected to exit by reconstructing the latest settled state and providing a ZK proof of balance.

Deployed DesertVerifier on Robinhood Chain

Other considerations

USDG is the quote and margin asset

Unlike the Ethereum deployment, this fork uses Global Dollar (USDG) instead of USDC as the quote and margin asset.

External oracles used for index prices

Lighter uses external oracles to determine index prices. External signatures are not verified by the settlement contract and the sequencer must be trusted to truthfully report data.

Funds can be lost if the oracle prices are manipulated.

Lighter docs - Fair Price Marking

Permissions

A dashboard to explore contracts and permissions

Go to Disco

Explore in Disco

Robinhood Chain

Actors:

SafeL20x8Caf…21ef

A Multisig with 3/5 threshold.

Can upgrade with 21d delay
- Lighter UpgradeGatekeeper with 21d delay
- ZkLighterVerifier UpgradeGatekeeper with 21d delay
- Governance UpgradeGatekeeper with 21d delay
Can interact with Governance
- manage validators, update the address that manages the insurance fund, update the treasury address that collects fees from markets, add and update markets and assets

Participants (5):

0x07B0…241f 0xA88d…9353 0x7F7D…82E0 0x9517…3377 Lighter Governor

3 EOAs

Lighter Validator 2 Lighter Validator 1 Lighter Validator 3

Can interact with Governance
- can commit, verify, execute batches, and revert committed but not yet executed batches

Lighter Security Council0x4972…eFDb

Can interact with UpgradeGatekeeper
- can reduce the upgrade delay to zero seconds

Smart contracts

A dashboard to explore contracts and permissions

Go to Disco

Explore in Disco

A diagram of the smart contract architecture

Robinhood Chain

UpgradeGatekeeper0x43Cf…2716

Governance contract functioning like an upgrade timelock for downstream contracts. The current delay is 21d and can be entirely skipped by 0x4972E0CaCb2AC45644BA054838e96fF4f6f7eFDb.

Roles:
- getMaster: SafeL2
- securityCouncilAddress: Lighter Security Council

DesertVerifier0x56ae…6E10

Lighter

Escrow

0x94bA…fF9d Implementation #1 (Upgradable)Implementation #2 (Upgradable)Admin

Roles:
- admin: UpgradeGatekeeper; ultimately SafeL2

The following tokens are included in the value secured calculation:

Can be upgraded by:

SafeL2 with 21d delay

ZkLighterVerifier0xe1aF…ac31 Implementation (Upgradable)Admin

The main ZK verifier of Lighter, settles the proofs of correct L2 state transition in the case of normal rollup operation.

Roles:
- admin: UpgradeGatekeeper; ultimately SafeL2

Can be upgraded by:

SafeL2 with 21d delay

Governance0xf6F6…78B7 Implementation (Upgradable)Admin

Manages the list of validators and the network governor.

Roles:
- admin: UpgradeGatekeeper; ultimately SafeL2
- networkGovernor: SafeL2
- validators: Lighter Validator 1, Lighter Validator 2, Lighter Validator 3