BlockBeats news, on October 15, Lighter stated that a special reward of 250,000 points is being distributed to compensate traders affected by the market big dump event on October 10. The second quarter rewards will be distributed every Friday starting from October 17, with the first batch of rewards being 600,000 points to cover compensation for the past 2.5 weeks. The affected users are mainly divided into three categories, for which responsibility is assumed: 1. Decline in trading platform performance: This occurred a few hours before the market crash on October 10. During this period, traders had total losses of around 25 million USD, hence 150,000 points are being distributed as compensation. Additionally, the liquidation fees will also be refunded in the form of USDC. 2. Market crash: The exchange system was operating normally at that time, but LLP holders incurred a loss of about 5%. Although the system performed well, we still bear some responsibility because some LLP participants had insufficient understanding of the liquidity provided by LLP and its mechanism as a last source of liquidity when necessary. The operation of LLP has been previously clarified through in-depth analysis, and LLP holders will receive 25,000 points as compensation. 3. Database failure after market calm: Five hours after the market crash, there was a failure in the database for the sequencer (see the incident report on October 12), and Lighter was down for 4.5 hours. During this period, the market fluctuated little, and total trader losses were 7 million USD. The compensation for this period is 75,000 points, while liquidation fees will also be refunded in USDC.
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