{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Big Brain Podcast","title":"Lighter CEO on 'Democratizing Finance' with a zero-fee, ZK perp DEX","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/728a83ad\"></iframe>","width":"100%","height":180,"duration":2480,"description":"In episode 8 of The Big Brain Podcast, Lighter founder Vladimir Novakovski explains why he built a zero-fee, ZK-powered perp DEX as an Ethereum L2, how it stacks up against CEXs and rival perp chains, and what they learned from recent market stress ahead of their token launch.\n\nOUTLINE\n00:00 – Introduction\n04:50 – What Lighter is\n06:15 – Why Ethereum L2 and ZK\n11:03 – Zero-fee retail model\n18:11 – Robinhood relationship & RH Chain\n20:30 – L1 vs L2 value capture\n27:08 – TGE timing and token value\n30:29 – DYDX, Hyperliquid and CEX vs DeFi\n35:52 – 10/10 crash and LLP risk\n39:50 – Infra upgrades and closing\n\nGuest links:\nVladimir Novakovski - https://x.com/vnovakovski\nLighter - https://x.com/Lighter_xyz\n\nShow links:\nLarry - https://x.com/lawmaster\nNamik - https://x.com/NamikMuduroglu","thumbnail_url":"https://img.transistorcdn.com/I18BSwYwgXvhi2APDN66HFv8nCBB1waiEpBXfE8G4Vg/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS81MjRi/Mzk1OGEwY2ExMjJh/YmQwMmRjYTU1MWIw/ZjRmZS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}