Lighter airdrop pushes the Hyperliquid rival’s valuation to $2.5bn — ‘The value will accrue’

Lighter, the largest decentralised perpetual futures exchange over the past month, airdropped its highly anticipated token on Tuesday with half of the supply set aside for employees and investors. Early users were also airdropped a quarter of the token’s supply. The token, LIT, opened above $3.30 but fell to around $2.50 on Wednesday. With a supply of 1 billion tokens, that places the protocol’s value at just above $2.5 billion — about 66% higher than the $1.5 billion valuation investors reportedly gav ...