Lighter Airdrops $675M in LIT Tokens, 10th Largest in Crypto History

The cryptocurrency sector witnessed a significant transaction as Lighter distributed $675 million in Lighter Infrastructure Tokens (LIT) to early participants of its DEX protocol.

Approximately 75% of recipients continue to hold the tokens, indicating strong confidence in the token.
The airdrop is one of the largest in crypto history, surpassing 1inch Network's $671 million but trailing behind LooksRare's $712 million and Uniswap's $6.43 billion in 2020.
Bubblemaps reported that $30 million has been withdrawn from Lighter following the airdrop.

Lighter Tokenomics Concerns

LIT's supply is divided equally between the ecosystem and team/investors, with a one-year cliff and multi-year vesting schedule.
Critics argue the 50% allocation to the team is high for a DeFi project, similar to Hyperliquid's model.

This event marks Lighter’s airdrop as the 10th largest by USD value in crypto history, according to CoinGecko.