Lighter’s LIT token rises 14% as protocol indicates active buyback
Lighter's LIT token surged nearly 14% following onchain data suggesting the decentralized perpetuals exchange initiated a token buyback program.Summary
The native token (LIT) of the decentralized perpetuals exchange Lighter experienced a 13.9% price increase, trading around $3.04, amid speculation that the protocol had begun buying back its token. Lighter addressed these rumors on X, directing users to track fees and buybacks via the onchain treasury account, referencing prior commitments to allocate revenues toward ecosystem growth and token buybacks based on market conditions. While not a formal confirmation, onchain data from the treasury account (Account #0) showed an increase in its LIT balance, holding 180,588 LIT worth approximately $548,987 as of Monday evening ET. Lighter, which launched its mainnet in October and recently raised $68 million, previously committed to using platform revenues for buybacks and growth initiatives, stating that the value created by its products will accrue to LIT holders.
(Source：The Block)