DeFi· ★★★· neutral·

Lighter launches US10Y perpetual futures tied to 10-year Treasury yields

  • —US10Y is a perpetual future on 10-year Treasury prices with up to 20x leverage
  • —The product offers no bond ownership or interest income, only a price bet
  • —Lighter runs a CLOB-based perp exchange on an Ethereum ZK-rollup with 190+ markets
  • —Lighter raised $68 million in November 2025 at a reported ~$1.5 billion valuation
Why it matters: The listing moves Treasury and rate trading into onchain derivatives, widening DeFi's RWA push beyond crypto assets.
Source: TokenPost
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