Lit Price Jumps 10% As Lighter Strikes $920 Million Deal With Circle
- Decentralized perpetuals trading platform Lighter saw its native token LIT surge nearly 10% during the early hours of the US session.
- It follows news that it had struck a major revenue-sharing deal with USDC issuer Circle.
- LIT, the powering token for the Lighter ecosystem, exploded by nearly 10% on the news, and was trading for $1.46% on the news.
- The agreement covers approximately $920 million in USDC deposits on Lighter’s platform, marking a significant milestone for the young DeFi exchange.
What Happened
Under the partnership, interest income generated from Circle’s USDC reserves will be shared between Circle and Lighter.
Market Context
Decentralized perpetuals trading platform Lighter saw its native token LIT surge nearly 10% during the early hours of the US session.
LIT, the powering token for the Lighter ecosystem, exploded by nearly 10% on the news, and was trading for $1.46% on the news.
For Lighter, the deal offers a fast and capital-efficient path to grow its yield engine, fund user incentives, and support platform features such as funding rate rebates and rewards programs.
The post LIT Price Jumps 10% As Lighter Strikes $920 Million Deal with Circle appeared first on BeInCrypto.
Why It Matters
It follows news that it had struck a major revenue-sharing deal with USDC issuer Circle.
Lighter Strikes $920 Million USDC Revenue-Sharing Deal with Circle — A Win for DeFi Traders
Details
The agreement covers approximately $920 million in USDC deposits on Lighter’s platform, marking a significant milestone for the young DeFi exchange.
This aligns with Circle’s broader revenue-sharing model, which it has previously implemented with leading exchanges such as Coinbase and Bybit.