In response to info shared by Citadel Labs, the Lighter ecosystem token, $LIT, has gained over 80% in worth within the final 30 days. This rise is attributed to updates to the challenge’s token economic system and a partnership with Robinhood Pockets.
Lighter introduced its up to date token financial mannequin on June thirtieth. In response to the brand new mannequin, roughly 15.5 million $LIT, which was repurchased with protocol revenues, was burned. This quantity corresponds to roughly 6.3% of the full provide.
It was additionally said that 125 million $LIT are presently staked, with a focused annual staking yield of 6 p.c. Accordingly, roughly 7.5 million $LIT are anticipated to be allotted yearly for staking rewards.
Associated Information BREAKING: Coinbase Abruptly Delists 5 Altcoins
One other improvement supporting the rise in $LIT worth was Lighter’s collaboration with Robinhood Pockets. As a part of the partnership, contract buying and selling will likely be supplied utilizing USDG because the pricing asset by way of Lighter situations distributed on Robinhood Chain.
In response to Citadel Labs knowledge, $LIT’s market worth is presently round $650 million. The protocol’s annualized income is estimated at roughly $72 million, whereas its price-to-sales ratio is round 9. This ratio is alleged to be about half that of Hyperliquid, one among $LIT’s principal rivals.
*This isn’t funding recommendation.
