RIADeFi
Not approved · Other

Ketju memo: Lighter Bridge (zkLighter)

Not approvedPublished by Ketju Research

This memo sets out what the holder owns, who controls it, how holders could lose money, and whether a position can be sold. The advisor decides any client action and amount. Not investment, legal, tax, or compliance advice.

Summary

Ketju does not approve the Lighter bridge: three externally owned accounts that do not form a multisig control sequencing, and an emergency multisig can cut the 21-day upgrade timelock to zero. The rollup also had several outages in July and August 2026. We found no defect in its design. Lighter (zkLighter) is an application-specific ZK rollup for perpetual futures. It verifies every state transition with SNARK validity proofs. That protects against invalid state better than the custom validator consensus of the Hyperliquid Bridge, which Ketju does not approve. Base's position cap already reflects the same pattern of no real delay once an emergency route is used. Base, though, has a disclosed council, and Lighter has only thin operational protection. One outage came a week before this review. The proof system is a real strength, so Lighter should reach a new review sooner than Hyperliquid or Unit once its operations mature.

Review triggers

  • Control of sequencing or batch commitment moves from three externally owned accounts to a disclosed multisig of at least 4-of-7 with named or institutionally accountable operators
  • The emergency multisig loses its power to cut the 21-day upgrade timelock to zero, or that power itself requires a minimum delay
  • Ninety days in a row with no proof-submission or state-update outage longer than one hour
  • A proposed-size withdrawal is shown to clear in normal operation within a documented maximum time

Facts

Verdict
Not approved
Type
Other
Chains examined
Ethereum
Reviewed
Last confirmed

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