Decentralized derivatives platform Lighter reported a successful real-world test of its LLP Strategies mechanism following a failed long position on ARC by a major trader. The trader established a large long position with an open interest of 50 million USDC, involving approximately 600 other traders and market makers as counterparties. The whale incurred a loss of about 8.2 million USDC, while the LLP's loss was limited to approximately 75,000 USDC. Short position traders who assumed the risk profited from the event.