New LIT Staking Mechanism Launched: Unlock LLP Access with Daily Refunds

Introducing the New LIT Staking Framework for LLP Access

Lighter has announced a new system requiring users to stake LIT tokens to gain access to LLP. This strategic move aims to align the interests of LIT holders and LLP users more closely.

Smart Refund System to Optimize Capital Efficiency

For LLP allocations exceeding the LIT-backed coverage (1 LIT covers $10 of USDC), the platform will gradually refund the uncovered portion. Starting tomorrow, up to 3% or $100 USDC (whichever is higher) will be returned daily directly to the user's USDC balance.

Transparent Allocation Secured by ZK Technology

LLP distribution rules are now fully verifiable and encoded into zero-knowledge (ZK) circuits, ensuring transparency and security.

LLP to Support Collateral Use Soon

Lighter plans to enable LLP as a collateral asset in two weeks, further enhancing platform efficiency and expanding the utility of both LLP and LIT tokens.