Lighter launches the LIT staking feature, unlocking four privileges including LLP rights, fee discounts, and more.
Odaily Planet Daily News: Lighter announces the launch of the LIT staking feature, with the following benefits:
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Users who stake LIT will gain eligibility to participate in LLP (Lighter Liquidity Pool). For every 1 LIT staked, 10 USDC can be immediately deposited into LLP. Existing LLP token holders will enjoy a two-week grace period (until January 28), during which they can retain their original funds. Afterward, participation in LLP requires continuous staking of LIT.
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Tiered fee rates for market makers and high-frequency trading firms will also be adjusted within two weeks. Overall fee rates will increase, but staking LIT will provide fee discounts, maintaining the lowest fee tier at the current level. We will announce the detailed tiered fee structure several days in advance to allow trading firms to adjust their algorithms.
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Staking LIT will generate yields, and the annualized return will be announced immediately once the feature is active.
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Staking 100 LIT will enjoy zero fees for withdrawals and transfers.