Lighter (LIT)

3 key things to understand from this article and why this helps $LIT "The SEC is leaning toward a decision to allow the trading of tokens that do not have the backing or consent of the public companies whose shares they track, which would be tradeable on decentralized crypto platforms." "Citadel Securities and SIFMA have pushed back, warning that broad exemptions for tokenized stocks could weaken know-your-customer, anti-money laundering and other investor protections." "If third parties can tokenize Apple or Amazon without the issuer at the table, there’s no theoretical limit on how many wrappers of the same company exist at once"

While there are some concerns, it seems like Atkins is OK with on chain derivatives of equities. I think the points on AML and KYC are valid, and these are questions that the industry doesn't have an answer to yet. Do you think there should be KYC?

🚨 TOLY HAS JUST BEEN HUMILIATED PUBLICLY BY L2BEAT AND LIGHTER. Not only does @toly's bigmouth suffice with ignoring Pacifica, but they also rudely expose him with L2BEAT's latest announcement, which for the first time states that it has regenerated from scratch all the ZK circuits used by Lighter and confirmed that they match 100% with the contracts deployed on Ethereum. But what does that mean in practice?: Lighter has what is called a “desert mode” (emergency exit). If the sequencer dies, bugs out, or the team does something weird (which I don’t think they will), any user can generate a ZK proof on their own computer and withdraw their funds directly to Ethereum without asking anyone for permission, hence the term 'permissionless'. That’s why Toly’s crass claim that Lighter is a CEX and that now, with the practice of permission‑less, they’ve been “taught a lesson” is so nonsensical. Before this, the source code was not published, so the emergency exit was blind trust in the Lighter team.