TGE in 3 days: What details were revealed in the call between Lighter and the whales?

The most anticipated TGE recently is undoubtedly Lighter.

With only 3 days left until the TGE, Lighter previously opened up appointments for conference calls. Users with high points rankings could have a 15-minute one-on-one conversation. Some major holders, community members, and Lighter team members who have already had calls have shared a lot of key information on Twitter, including the TGE timing, token allocation, token buyback, and more. Based on this public information, BlockBeats has compiled the main points.

1. Has the TGE date been confirmed?

Answer: Yes, the TGE will be completed by the end of this year.

BlockBeats note: Currently, the probability of Lighter TGE happening before December 31 on Polymarkets is 91%.

2. Is there a risk of sybil attacks with manually operated high-frequency trading accounts? How many $LIT does 1 point equal?

Answer: Manually operated high-frequency trading is considered normal trading and will not be treated as sybil. As for how many $LIT 1 point equals, please wait for future announcements.

3. What benefits will $LIT holders have in the future? Will Lighter have a buyback plan?

Answer: The purpose of our interviews is to ask everyone what specific benefits they hope for in the future. We will fully empower the token. As for the buyback plan, it is difficult to answer at this time, but there will be related announcements in the future.

4. What are the future plans after the TGE?

Answer: We will launch s3 to continue incentivizing users, aim to implement a unified margin mechanism in Q1, launch a mobile APP, and also introduce a prediction market. However, since this is a huge workload, the timeline is uncertain, but we aim to complete it within next year.

(Q&A 1-4 Source: h/t Linshan @0Xlynn03)

5. I know you don't plan to list on CEX immediately. What if they list it forcibly?

Answer: They won't be able to withdraw.

BlockBeats note: This seems to mean that even if a CEX lists it forcibly, users will not be able to withdraw tokens to the exchange to sell, so there will be no sell-off.

(Q&A 5 Source: h/t Chabusi @mdzzi)

6. How does Lighter allocate fee income?

Answer: $LIT is not equity, nor is it a dividend token. Therefore, protocol-generated fees will not be used for investor dividends or distributions, but will instead be uniformly returned to the protocol itself for ecosystem expansion, product growth, and most importantly, token buybacks.

7. How are airdrop allocations and the tokenomics distribution model structured?

Answer: The specific tokenomics details have not been fully disclosed yet, but the main allocation framework has been determined: the first round of airdrops will release 25% of the total supply, and another 25% will be reserved for future airdrop arrangements. All investors will follow a three-year vesting schedule.

8. The community mentioned that Justin Sun provided a lot of liquidity for Lighter. How many points does he have?

Answer: Justin Sun held more than 10,000 points through multiple wallets in the early stages. After that, he proactively contacted the team to add more liquidity to LLP, all in accordance with the on-chain rules for earning points.

9. What preparations have been made regarding regulatory compliance?

Answer: Founder Vlad has traveled to Washington multiple times to communicate directly with regulatory agencies, including Senator Tim Scott and members of the President's Digital Asset Working Group. Even before the TGE, Lighter has been proactively advancing the construction of compliance and regulatory frameworks.

In addition, Vlad has also communicated with the Robinhood team regarding tokenized stocks.

10. What arrangements have been made with other CEXs or trading platforms?

Answer: Lighter has not paid any listing fees to any trading platform. Nevertheless, Lighter has been included in Coinbase's roadmap, which usually means it has undergone a certain degree of institutional due diligence.

11. Are there any other undisclosed reward mechanisms?

Answer: There are no special incentives based on identity or role, no hidden reward plans, and no "backdoor" allocation mechanisms.

(Q&A 6-11 Source: h/t @CarreNFT, Lighter Contributor Kevin Susanto Zihuang @KevinSusanto)