#Lighter项目代币发行 The clarification from Lighter's founder came quite timely. The explanation that large transfers are unrelated to airdrops essentially means they are managing funds, which is a relatively positive signal for early participants—at least it's not secretly dumping.

But there's a detail worth pondering: the universal margin system allows L1 assets to be used as collateral, which means Lighter is engaging in differentiated competition. From a trader's perspective, this design can lower the entry barrier and attract many traders with different risk preferences. The fact that the app is launching within a few weeks is also significant—mobile traffic often determines a trading platform's long-term activity.

The logic of copy trading is as follows: if the new app indeed launches, a wave of new users will flood in during the initial phase, making the performance data of top traders on the platform very valuable for reference. My suggestion is to observe first and not rush to follow. After the app has been stable for two weeks, see who can maintain steady returns under the new traffic environment, then consider split-position copy trading. Those with aggressive risk preferences can follow ultra-short-term traders, while conservative traders should look for strategies that are stable and have good drawdown control. The key is to recognize your own risk tolerance and let the data speak.