The native token of decentralized perpetuals trading platform Lighter, LIT, surged nearly 10% in early US trading hours following the announcement of a major revenue-sharing partnership with stablecoin issuer Circle. The agreement centers on approximately $920 million in USDC deposits currently held on the Lighter platform.
Under the terms of the deal, interest income generated from Circle's USDC reserves will be shared between the two entities. This aligns with Circle's established business model, which has seen similar revenue-sharing arrangements with major centralized exchanges like Coinbase and Bybit. For the young DeFi exchange, this partnership provides a capital-efficient path to grow its yield engine, fund user incentive programs such as funding rate rebates and rewards, and support platform development.
The announcement marks a strategic divergence from some competitors. Notably, rival platform Hyperliquid launched its own native stablecoin, USDH, in late 2025, a move that diverted billions in deposits and associated yield away from established issuers like Circle. Lighter's decision to partner with Circle instead of developing a proprietary stablecoin allows it to tap directly into Circle's established reserves and ecosystem, potentially accelerating adoption and scaling efficiency.
Analysts view the deal as a potential win-win: Circle secures a large, locked volume of USDC on a growing DeFi platform, encouraging circulation, while Lighter gains access to a steady revenue stream expected to enhance platform sustainability, attract liquidity, and boost user engagement. Market observers are now closely monitoring on-chain USDC flows to Lighter's contracts as an early indicator of the agreement's impact on liquidity and token sentiment.
The news has significantly boosted confidence in the LIT token, potentially exceeding the positive sentiment seen during its token generation event in December 2025. Lighter has been gaining traction in the DeFi perpetuals market, aided by growing trading volumes, loyalty point programs, and a recent listing on the Robinhood platform.
However, the announcement arrives against a backdrop of past controversies for Lighter. Community members, such as a user identified as Henrik, have raised concerns about alleged secret token sales by the team, claiming 2.7 million LIT (worth approximately $7.18 million at the time) were sold from team-associated wallets post-TGE without transparent communication. While the exact revenue split from the Circle deal remains undisclosed, even a conservative arrangement is seen as a meaningful positive development for LIT holders.
