Lighter has announced a compensation package of 250,000 points to traders affected by last week's market crash. The compensation will be distributed in quarterly installments starting October 17th, with the first installment covering 600,000 points for the past 2.5 weeks. The platform has identified three categories of affected users and will take full responsibility for the losses.
Firstly, a performance degradation of the trading platform before the crash led to a $25 million loss, for which Lighter will compensate with 150,000 points and refund liquidation fees. Secondly, LLP holders experienced a 5% loss during the crash, and Lighter will compensate them with 25,000 points while clarifying LLP operations. Lastly, a database failure post-crash caused a $7 million loss, and Lighter will compensate with 75,000 points and refund liquidation fees.
Lighter Announces 250,000 Point Compensation for Market Crash Losses
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