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Lighter to Offer LIT Staking (locking crypto to earn rewards) at 10 USDC LLP per LIT

Lighter to Offer LIT Staking (locking crypto to earn rewards) at 10 USDC LLP per LIT

According to the company’s statement, staking 1 LIT enables deposits of 10 USDC into LLP, with added incentives such as fee discounts, earnings from high-tier staking rights, and waived withdrawal fees for qualifying users.

USDC

Summary

Lighter announced that staking 1 LIT will permit users to deposit 10 USDC into LLP. This feature takes effect immediately, with a two-week grace period until Jan. 28 for current users to maintain their funds. Benefits include fee discounts for market makers, earnings tied to high-tier staking rights, and waived withdrawal fees for certain stakers.

Terms & Concepts
  • Staking: Locking cryptocurrency to earn rewards or benefits on a platform.
  • Maker fees: Exchange fees charged to users who add liquidity by placing limit orders.
  • Yield: The return earned from platform activities such as staking or liquidity provision.