Lighter partners with Circle to share revenue from $920M in USDC deposits

Lighter (LIT) has partnered with Circle to share revenue generated from roughly $920 million in USDC deposited on its platform, according to Velo.

Lighter is a zero-fee perpetual trading protocol, reporting about $112 billion in monthly perpetual trading volume and $922 million in total value locked. The project previously raised $68 million in funding backed by Ribbit Capital, Founders Fund, Robinhood, and Haun Ventures.

$LIT is currently trading at $1.47, with a fully diluted valuation of about $1.47 billion.