In keeping with data 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 venture’s token financial system and a partnership with Robinhood Pockets.
Lighter introduced its up to date token financial mannequin on June thirtieth. In keeping with 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 at present 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.
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One other growth supporting the rise in $LIT value was Lighter’s collaboration with Robinhood Pockets. As a part of the partnership, contract buying and selling shall be supplied utilizing USDG because the pricing asset by Lighter situations distributed on Robinhood Chain.
In keeping with Citadel Labs information, $LIT’s market worth is at present 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, considered one of $LIT’s principal rivals.
*This isn’t funding recommendation.
