LIT Surges Over 80% in 30 Days Amid Token Economic Update and Robinhood Partnership

According to Castle Labs, Lighter's native token LIT surged over 80% during the past 30 days as of July 7. On June 30, Lighter announced a token economic update, including the destruction of approximately 15.5 million LIT tokens (6.3% of total supply) acquired through protocol revenue buybacks, and the introduction of a 6% annual staking yield targeting 125 million staked tokens, with approximately 7.5 million LIT distributed annually.

Lighter also announced a partnership with Robinhood Wallet, which will provide perpetual contract trading via a Lighter instance deployed on Robinhood Chain, using USDG as the pricing asset. LIT currently holds a market capitalization of approximately $650 million with an annualized protocol revenue of $72 million.