Lighter token surges 13% on bullish tokenomics update
LIT, the native token of decentralized perpetuals platform Lighter, has rallied by 13% to $2.50 in 24 hours. That makes it the best performing top 100 cryptocurrency by market value.
The token has gained 31% since Lighter unveiled a tokenomics update on June 30.
The update centers on two main adjustments: Repurchased tokens that are acquired through ongoing exchange revenue will now face permanent burns, directly shrinking supply over time.
"Burns may be executed using undistributed LIT rather than the exact repurchased tokens. This is economically equivalent for LIT holders and allows Lighter to manage treasury operations efficiently and avoid unnecessary costs," the protocol said in an explainer.
Additionally, staking rewards have transitioned away from temporary bootstrapping funds and will instead draw from Lighter’s remaining ecosystem allocation, with the protocol aiming for an initial 6% annualized yield.