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Castle Labs: LIT rose more than 80%, tokenomics update and Robinhood collaboration as main reasons

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ME News: on July 7 (UTC+8), according to Castle Labs, the Lighter ecosystem token LIT has risen over 80% in the past 30 days. On June 30, Lighter announced an updated tokenomics model, burning all of the approximately 15.5 million LIT (6.3% of total supply) repurchased with protocol revenue, and targeting an annualized staking yield of 6% based on the current staking scale of 125 million LIT, with an estimated annual distribution of 7.5 million LIT. Meanwhile, Lighter has partnered with Robinhood Wallet, which provides contract trading using USDG as the pricing asset through a Lighter instance deployed on the Robinhood Chain. LIT currently has a market cap of approximately $650 million, with annualized revenue of about $72 million, corresponding to a price-to-sales ratio of roughly 9, about half that of its main competitor Hyperliquid. (Source: PANews)
LIT-5.94%
HYPE-3.92%
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