Upbit will open a KRW trading pair for Lighter’s LIT token on Aug. 24, 2026 at 13:00 KST, the exchange announced — letting South Korean users buy LIT directly with won. What’s changing - New market: LIT/KRW goes live at 13:00 KST on Aug. 24, 2026. - Reference price: Upbit used LIT’s BTC-market close of 0.00004500 BTC (about 4,803 KRW) as the reference for initial order controls. That figure is for opening limits only and does not guarantee the opening price in KRW. - Existing access: LIT was already tradable on Upbit through the BTC market; this listing adds direct won liquidity. Opening controls and trading rules - Trading may be delayed if Upbit cannot secure sufficient liquidity after deposits and withdrawals open. - For roughly the first five minutes after the KRW market opens, buy orders will be blocked and sell orders priced more than 10% below the previous BTC-close reference will be restricted. - Only limit orders will be accepted for about the first two hours. Market orders and other conditional order types will be enabled afterward if controls are not extended. - These measures aim to limit chaotic price moves when a new won market opens with little local price history, but they cannot prevent sharp volatility or price gaps versus global exchanges. - Upbit may display market warnings or extend controls if price moves, deposits, or volumes accelerate abnormally. Deposit and withdrawal rules — important details - LIT deposits and withdrawals on Upbit will be supported only on Ethereum. The supported contract address is 0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 — users should verify this address before sending funds. - Deposits from exchanges not on Upbit’s approved virtual asset service provider list may not be credited; refunds for unsupported deposits can take a long time. - Transfers from personal wallets are allowed only to addresses that have completed ownership verification. Upbit may request source-of-funds information for large or unclear deposits. About Lighter and the LIT token - LIT is an ERC‑20 infrastructure and utility token for Lighter, a protocol that runs an order-book decentralized exchange focused on perpetual futures. - Lighter processes trades and position management through an Ethereum layer‑2 environment, using cryptographic proofs to verify order matching and liquidations. The protocol also operates within the Robinhood Wallet ecosystem, though availability varies by jurisdiction and some users cannot access its leveraged products. - Staking LIT grants access to the Lighter Liquidity Pool (LLP): each staked LIT currently permits up to 10 USDC of deposits into the pool. Unstaking carries a three-day lockup. Stakers may be eligible for trading and funding benefits. - Protocol trading fees are used to buy LIT through daily time‑weighted average price (TWAP) transactions, subject to revenue and internal allocation decisions. - Token distribution at launch: 25% of supply was distributed via community airdrop, half allocated to ecosystem programs, and the remaining half reserved for the team and investors under lockups and vesting schedules. Market context and trader guidance - South Korean listings often drive concentrated retail activity and can produce abrupt moves — for example, ORCA once surged over 200% after a domestic market listing. Past performance does not predict how LIT will behave. - No independently verified market reaction was available before the scheduled KRW opening. Traders should watch the opening price, available liquidity, and price differences between the new LIT/KRW pair and global LIT markets. - Upbit recommends comparing domestic and international prices before trading and reminds users that the opening controls are intended to reduce disorderly activity but cannot eliminate volatility. Bottom line: Upbit’s LIT/KRW listing gives Korean users direct access to LIT with won, but the exchange’s initial trading controls, Ethereum‑only deposit rules, Travel Rule implications, and the token’s own staking and tokenomics are all factors traders should check carefully before participating. Read more AI-generated news on: undefined/news