Lighter Converts Equity to Token Structure at TGE, Directing All Economic Value to Token Holders

Lighter founder confirms full economic value transfer to token holders at TGE. Final equity round raised $300M interest; <1% of stakeholders opted to exit before conversion.

Woofun AI reports that Lighter founder Vladimir Novakovski clarified that all economic value generated by the protocol will accrue exclusively to token holders. The project’s U.S.-based entity, which issued equity prior to launch, will convert its cap table entirely to tokens at TGE, rendering the equity structure obsolete.

The final equity financing round, completed months before TGE, attracted over $300 million in capital interest against a $68 million allocation. Stakeholders were informed that equity value would only be reflected as token holdings and given the option to exit. Less than 1% of equity holders chose to sell, with the remainder retaining their positions to support the token-centric value model.