📣 Lighter has announced staking for $LIT
The launch came on the same day as the mobile app release, as expected.
Key mechanics:
➡️ Access to LLP deposits will depend on the amount of staked $LIT
➡️ 1 $LIT gives a deposit limit of $10 in USDC
➡️ Fee discounts for $LIT stakers are planned for a future update, with details still pending
Market reaction was negative. Price dropped below $2 after the announcement.
The main concern is liquidity. Limiting access to LLP through staking may reduce liquidity in the pool, which directly impacts trading depth on the platform. LLP yields are already relatively low, so there is limited incentive to buy or hold LIT purely for access.
Most likely users of this setup are existing LIT holders or traders hedging spot exposure with perpetual shorts.
Fee discounts could matter more in the long run, but that depends entirely on how aggressive the final structure turns out to be.
