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Type annotations are the main benefit. It's also much faster than Lua 5.1, but I don't know how it compares to 5.4.

I really miss compound assignments and a continue statement. The if then else expressions look cool too.

Would love to see these in the LuaJIT but I think its considered "done"

Mike Pall has added two sponsored projects in 2021 http://luajit.org/sponsors.html I sure hope he's the world's best paid Lua contractor

implementation of continue from one luajit fork: