The @Lighter_xyz team hosted another AMA today with CEO @vnovakovski that was moderated by infamous community member @satoshiheist. Here are my notes on the key discussion items: -Private beta will be concluding within the next 3-5 weeks. -The goal is to continue to provide the best possible experience for retail traders with zero-fees, low latency, and high liquidity. -TGE was previously discussed as being scheduled for Q4 2025. Vlad confirmed that this timeline is still on track, but that there any many moving pieces. -Real-world assets and pre-launch markets will be rolled out within weeks. -Spot trading is harder to build and is still “months away”. Vlad noted that spot infrastructure is a pre-req. for having a native token. -Mobile app is being developed. -ZK circuits will be made public, pending an audit. -Performance is being tracked using dashboards to monitor P50, P95 and P99 metrics. -Feedback from on-boarded MMs on the fee structure has generally been positive. Fees are acceptable to MMs as they are considered as an operating cost. There are around 20 MMs live and several hundred on a wait list. -Expecting positive news in Q4 2025 re/ US legal framework. -Future AMAs will be hosted by community reps. for various languages incl. Chinese, Korean, Spanish, and Vietnamese.