Lighter (LIT) Jumps 20% to $2.6 After Tokenomics Overhaul

Lighter (LIT) surged more than 20% on Monday to $2.6, its highest level since January, after the perpetuals exchange unveiled a tokenomics overhaul adding permanent burns and a revamped staking model. According to BeInCrypto, Lighter has repurchased about 15.5 million LIT, or roughly 6.3% of circulating supply, and plans to burn tokens by sending LIT to a burn address on the Ethereum (ETH) mainnet, with the first burn planned in the weeks after the second quarter closes. The exchange will now fund staking rewards from 250 million ecosystem tokens, targeting a 6% annualized yield.