Yesterday morning, Lighter founder and CEO Vladimir Novakovski conducted an in-depth Q&A on Twitter Space.

In accordance with the previous promise of "completing TGE this year," Lighter will finalize the TGE within these last 3 days of countdown. Meanwhile, the recent round of Sybil account cleanups by Lighter has caused some users to lose the points they had earned, sparking intense discussions on Discord and Twitter.

This AMA came at just the right time. During the hour-long conversation, Vlad personally addressed rumors about "Justin Sun having special point rules," the Sybil detection algorithm, and the appeal process. He also shared updates on his regulatory discussions in Washington, potential collaboration with Robinhood, and Lighter's next steps, among other topics.

TL;DR:

1. Regarding the recent point deductions, Vlad explained that the team used extensive data science methods (including cluster detection) to identify wash trading accounts, with the quant team working on this for weeks. Users who were wrongly flagged can appeal via the Discord appeal form, but the number of appeals has been surprisingly low so far;

2. There is no special point system for大户 (large accounts) in Lighter's algorithm;

3. The mobile app will be released within a few weeks, offering both professional and light modes, with plans for seamless funding. Universal cross-margin will start with stablecoins and gradually expand to ETH, BTC, and native tokens;

4. Vlad revealed that the team had regulatory discussions in Washington, where government departments showed a deeper understanding of DeFi and ZK technology than expected. Lighter is exploring tokenized stock collaborations with Robinhood and plans to launch on-chain fixed-income products in the future;

5. All investors and the team agree that "Lighter's value accrues to the token, not equity," and there will be no dual structure where both tokens and equity coexist.