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

ChainCatcher News, perpetual contract trading platform Lighter has announced the distribution of 250,000 points as compensation to traders affected by the recent market crash. According to the official statement, the compensation will be executed in three categories:

First, due to platform performance degradation before the market crash, traders suffered a cumulative loss of approximately 25 million USD. The platform will distribute 150,000 points and refund liquidation fees (paid in USDC);

Second, during the market crash, LLP holders experienced an asset decline of about 5%. The platform will provide 25,000 points as compensation and further clarify the LLP liquidity mechanism in the technical documentation;

Finally, about five hours after the market recovery, a database failure caused a short downtime of 4.5 hours, resulting in a loss of approximately 7 million USD. An additional 75,000 points will be distributed and the related liquidation fees will be refunded.

In addition, Lighter stated that the second season of the points distribution event will take place every Friday starting from October 17, with the first round of airdrop totaling 600,000 points.