画像を読み込み中Lighter launches BTC and ETH binary options on Core

Lighter official app icon / logomark

The perpetuals exchange added fully collateralized 15-minute Up/Down contracts that pay 1 USDC per winning share, with European options planned next

Mon 19 Oct 2026 · 13:26 EDT · 2 min read

In DeFi

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Lighter, the Ethereum zk-rollup exchange known for perpetual futures, has launched binary options on Bitcoin and Ether on its Lighter Core platform, The Defiant reported on October 19.

The Up/Down contracts let traders take a view on whether BTC or ETH will rise or fall over 15-minute price windows, settled using Chainlink price data. Each winning share pays 1 USDC.

Positions must be fully funded in USDC, meaning the product carries no leverage and no liquidations. A trader’s maximum loss is the price paid for the shares.

First step toward a full options suite

The launch follows an “Options season. Coming soon” teaser Lighter posted on October 16. Founder and CEO Vladimir Novakovski has said the exchange is focusing on options this quarter, starting with binary options and moving next to onchain European options that would share the same balance sheet as its perpetual contracts, ChainCatcher reported.

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Novakovski said the combined setup would let users trade spot, options and perpetuals on a single platform, supporting strategies such as basis trading and delta hedging.

Moving closer to prediction markets

Fully funded contracts that resolve to a fixed payout bring Lighter closer to prediction market designs such as Polymarket, where share prices reflect the market’s implied probability of an outcome. Lighter’s initial markets cover only short-term price direction for two assets.

Lighter operates as an application-specific zk-rollup that publishes proofs of order matching to Ethereum. The company has said it is seeking a license from the Commodity Futures Trading Commission.

Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.