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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.
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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.
