If your code does not use any tool with dynamic loading (these are loadstring, loadfile, require, etc.), you can deprive the Lua library only to the virtual machine, because some compiler emits the code that will run on this virtual machine, It can easily reduce Lua already small size to 1/3 of the original.
However, since this is NOT native binary for any existing architecture, you still CANNOT run it directly without the help of a virtual machine.
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