Lighter Launches LIT Staking Feature, Unlocking Four Privileges Including LLP Rights and Fee Discounts

Odaily News Lighter has announced the launch of the LIT staking feature. The benefits obtainable through staking are as follows:

1. Users who stake LIT will gain eligibility to participate in the LLP (Lighter Liquidity Pool). For every 1 LIT staked, 10 USDC can be immediately deposited into the LLP. Existing LLP token holders are granted a two-week grace period (until January 28th) during which they can retain their original funds. After this period, continuous LIT staking will be required to participate in the LLP.

2. The tiered fee structure for market makers and high-frequency trading firms will also be adjusted within two weeks. Overall fees will increase, but staking LIT will provide fee discounts, keeping the lowest fee tier at the current level. We will announce the specific details of the tiered fee structure several days in advance to allow trading firms time to adjust their algorithms.

3. Staking LIT will generate rewards. The annualized yield will be announced immediately after the feature goes live.

4. Staking 100 LIT will grant zero fees for withdrawals and transfers.