LIT price jumps 10% as Lighter makes $920 million deal with Circle

The native token LIT of the decentralized trading platform for perpetual contracts, Litere, rose by almost 10% during the first hours of the American session.

This came after announcing the news that it had reached a major revenue sharing agreement with issuer USDC Circle.

Sponsored

Sponsored

Liter Strikes $920M USDC Profit Sharing Agreement With Circle – A Win For DeFi Merchants

The LIT token, which powers the Lighter system, saw an increase of almost 10% after the announcement, and was trading at 1.46% at the time of the news.

The deal covers approximately $920 million in USDC deposits on Litere, marking a major step for the young decentralized trading platform.

The partnership provides for interest income generated from Circle’s USDC reserves to be shared between Circle and Light.