TL;DR:
- Lighter’s new RFQ system conceals the commerce route (purchase or promote) from whitelisted market makers.
- The platform combines requests for quotes with its current public order guide in a hybrid format.
- The announcement coincides with a development of competitors in opposition to perpetual contract exchanges like Hyperliquid.
Throughout Thursday’s session, the DeFi protocol Lighter introduced the launch of the beta section of its new Request-for-Quote (RFQ) function for its real-world asset (RWA) markets.
Asserting Lighter RFQ in beta! Out there on the net app on eligible RWA markets.
Enter and exit bigger positions in a single click on with decrease slippage and higher pricing. pic.twitter.com/i8wsuTWOxH
— Lighter (@Lighter_xyz) Could 20, 2026
With this launch, the platform seeks to facilitate the motion of huge volumes of capital by decreasing the influence on value slippage (slippage). In response to knowledge revealed by the Lighter protocol, the mechanism operates in such a means that, when initiating an RFQ, whitelisted market makers can view the asset and the transaction measurement, however not the dealer’s intention to purchase or promote.
The hybrid mannequin versus pure techniques
The agency’s technical proposal differs from current choices within the DeFi sector, akin to Variational, whose construction relies completely on pure RFQ networks with out public order books.
Information from Lighter’s report recommend that its hybrid strategy maintains the normal order guide. Market makers inject extra liquidity into stated public guide after receiving the RFQ alert, which improves execution circumstances for the person.
The ultimate order is processed instantly by the platform’s order guide, permitting the dealer to evaluate the up to date value estimate earlier than giving closing authorization to the transaction.
This design is projected to be most helpful for institutional or large-scale operations that, underneath regular circumstances, would disrupt value stability in markets with shallower depth.
Presently, RWA-based derivatives markets current themselves as a extremely aggressive area for perpetual contract exchanges. In response to the business’s present development, requests for quotes present massive merchants with cleaner entry and exit factors in RWA markets, which generally report thinner liquidity in comparison with extremely established cryptocurrency perpetuals.
The testing section of this protocol will stay lively over the approaching weeks, a interval throughout which the response of approved market makers shall be validated earlier than its definitive deployment.
