LIT Price Jumps 10% As Lighter Strikes $920 Million Deal with Circle
Lighter's token, LIT, surged nearly 10% following a major revenue-sharing deal with USDC issuer Circle involving $920 million in deposits.Summary
The native token LIT, which powers the decentralized perpetuals trading platform Lighter, experienced a nearly 10% price increase after the platform announced a significant revenue-sharing agreement with Circle, the issuer of USDC.
This partnership centers around approximately $920 million in USDC deposits held on Lighter's platform. Under the terms of the deal, the interest income generated from these Circle USDC reserves will be shared between Circle and Lighter.
This move aligns with Circle's established revenue-sharing model used with other major exchanges. For Lighter, this agreement provides an efficient way to enhance its yield engine, finance user incentives, and support platform features like funding rate rebates and rewards programs.
(Source：BeInCrypto)