How Robinhood Perps Are Different and How That Affects the Trading Math

Description

Vlad Novakovski, founder and CEO of Lighter, walks through how his platform ended up powering perpetual futures inside Robinhood Wallet, tracing the partnership back to a high school friendship, a 50/50 revenue split, and the collateral risk built into using USDG. Host: Laura Shin, Founder, CEO and Host of Unchained - https://x.com/laurashin Guest: Vlad Novakovski - Founder and CEO of Lighter - https://x.com/vnovakovski This clip is from a longer conversation on Lighter's Robinhood Chain partnership and the future of onchain perps. Full episode here: https://youtu.be/kx4Sgy2TLh4 We go live twice every week - subscribe to catch it live. Sponsors 👉 Fidelity: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one of the most forward-thinking names in finance here: https://crypto.fidelitycareers.com Chapters 🤝 00:00 Robinhood Chain's big announcement and the question behind it 🏫 00:39 Why Novakovski calls this deal '12 years in the making' 💸 01:53 How the 50/50 revenue split with Robinhood actually works 🔀 02:12 How trading on Robinhood Wallet differs from Lighter's own app ⚖️ 03:32 Does USDG as the shared quote asset fragment liquidity? 🏛️ 04:54 When decentralized perps might actually land in the US ⚠️ 06:30 Pricing the risk of USDG as collateral for market makers 💬 09:36 How Lighter's Telegram Wallet integration is performing _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies ++++++++++++++++++++++++++++++++++++++++++++++++ Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!