Lighter will issue 250,000 points to compensate traders affected by the market crash

Lighter, a perpetual swaps trading platform, announced it will distribute 250,000 points as compensation to traders affected by the market crash. Officials stated that this compensation will be divided into three categories: First, due to platform performance degradation before the market crash, traders suffered cumulative losses of approximately $25 million. The platform will issue 150,000 points and refund liquidation fees (paid in USDC). Second, during the market crash, LLP holders experienced a roughly 5% drop in assets. The platform will issue 25,000 points as compensation and further clarify LLP liquidity mechanisms in its technical documentation. Finally, approximately five hours after the market recovered, a database outage caused a 4.5-hour platform outage, resulting in approximately $7 million in losses. An additional 75,000 points will be issued and liquidation fees will be refunded. Furthermore, Lighter announced that the second quarter of point distributions will take place every Friday starting October 17th, with the first round of airdrops consisting of 600,000 points.