Lighter founder clarifies the truth about large transfers: it's for fund custody, not an airdrop

Decentralized order book exchange Lighter has recently attracted community attention due to some large transfer events. In response to this situation, Lighter founder and CEO Vladimir Novakovski provided a direct reply during a Twitter Space interview, clarifying that these large transfers are unrelated to airdrops and are instead for the purpose of fund custody.

Clarification on LIT Token Movements

According to Vladimir Novakovski, the multiple large transfers of LIT tokens discovered by the community are for the secure custody of investor and team funds, and are not the airdrops or distribution activities speculated by outsiders. This clarification alleviates market concerns about the large circulation of tokens.

Product Development and Feature Upgrades

In addition to clarifying the token transfer matters, Lighter also announced that several important features will be launched after the upgrade. Among them, the universal margin system will allow L1 assets to be used as collateral on the Lighter platform, meaning users can trade and borrow using more types of assets. Furthermore, the highly anticipated mobile app is expected to go live in the coming weeks, further expanding the platform’s accessibility.

At the same time, Lighter announced that related announcements such as the token TGE (Token Generation Event) may be released very soon, providing the community and investors with more information about the project’s progress.

LIT Real-Time Data

According to the latest data, the LIT token is currently priced at $1.67, up 8.04% in the past 24 hours, with a 24-hour trading volume of $10.61M, a circulating market cap of $416.50M, and a circulating supply of 250,000,000 tokens. As Lighter continues to push product iterations and feature improvements, the token price also reflects market confidence in the project’s prospects.