Lighter has announced the initiation of LIT staking to gain access to LLP, with approximately 56 million LIT tokens already staked. Under the new regulations, each staked LIT provides an LLP quota equivalent to 10 US dollars. If any LLP configuration exceeds this limit, the excess will be gradually returned to users. Starting tomorrow, daily withdrawals will be capped at either 3% of the uncovered amount or 100 US dollars, credited to users’ USDC balances. This move aims to align the interests of LIT stakers and LLP holders. Furthermore, the allocated LLP rules are now verifiable and integrated into a ZK circuit, enhancing transparency and security. Additionally, within two weeks, traders will be able to use LLP as collateral, improving capital efficiency and expanding the use cases for LLP and staked LIT. These changes will create new investment and trading opportunities on the platform and increase financial flexibility for users. Lighter is a well-known digital asset platform offering cryptocurrency trading and staking services. Staking involves locking cryptocurrencies on the platform for a set period to earn rewards or benefits. LLP and LIT tokens are key financial products on the platform, providing various financial services to users. This new system will strengthen the relationship between LLP and LIT stakers while promoting transparency and stability in the platform’s financial policies, resulting in greater user confidence and convenience.
Source: binance
