Lighter Strikes $920 Million Deal With Circle

Decentralized perpetuals trading platform Lighter saw its native token LIT surge nearly 10% during the early hours of the US session.  

It follows news that it had struck a major revenue-sharing deal with USDC issuer Circle.

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Lighter Strikes $920 Million USDC Revenue-Sharing Deal with Circle — A Win for DeFi Traders

LIT, the powering token for the Lighter ecosystem, exploded by nearly 10% on the news, and was trading for $1.46% on the news.

The agreement covers approximately $920 million in USDC deposits on Lighter’s platform, marking a significant milestone for the young DeFi exchange.

Under the partnership, interest income generated from Circle’s USDC reserves will be shared between Circle and Lighter.

This aligns with Circle’s broader revenue-sharing model, which it has previously implemented with leading exchanges such as Coinbase and Bybit.

For Lighter, the deal offers a fast and capital-efficient path to grow its yield engine, fund user incentives, and support platform features such as funding rate rebates and rewards programs.

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Unlike some of its competitors, Lighter has opted to lean on USDC rather than launching a proprietary stablecoin.

Hyperliquid, for instance, introduced its native stablecoin USDH in late 2025 after a competitive governance auction. The move diverted billions in deposits and yield away from Circle and other stablecoin issuers.

It allowed Hyperliquid to capture revenue internally and reduce centralization risks, but required significant capital and infrastructure investment.

Lighter Leverages Circle Partnership to Boost Adoption, Liquidity, and LIT Token Sentiment

Lighter’s approach, by contrast, allows the platform to tap directly into Circle’s established reserves while still benefiting from shared yield.

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This could accelerate adoption by leveraging Circle’s USDC ecosystem, enabling Lighter to scale more efficiently while delivering value to traders and token holders.

The deal represents a potential win-win scenario:

• Circle benefits by locking in a large volume of USDC on a growing DeFi platform, incentivizing adoption and circulation.
• Lighter gains access to a steady revenue stream, which could enhance platform sustainability, attract more liquidity, and increase user engagement.

Moving forward, interest will be on on-chain USDC flows to Lighter contracts as this could show early signs of the agreement’s impact on liquidity and token sentiment.

Lighter has been gaining traction in the DeFi perpetuals market, with growing trading volumes, loyalty points programs, and community engagement.

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Token listings on popular platforms like Robinhood have also contributed to its growing bullish sentiment.

The revenue-sharing announcement is expected to boost confidence, perhaps further than during its LIT token event in December.

Nevertheless, it is impossible to forget past controversies surrounding Lighter, including allegations of secret token sales.

While official details on the exact share split of USDC interest have not yet been disclosed, even a conservative arrangement could provide a meaningful boost to LIT holders.

Crypto investors are advised to monitor announcements from both Lighter and Circle for updates, as revenue-sharing agreements of this scale can change quickly.