Lighter to permanently burn all future LIT buybacks

Lighter (LIT), a decentralized perpetual futures exchange, announced on X that it will formalize a policy to permanently burn all future buybacks. The project has bought back 15.5 million LIT to date, equivalent to 6.3% of the total supply, with the first burn scheduled to occur within the next few weeks. Additionally, Lighter stated that LIT staking rewards, previously funded by the token presale, will now be sourced from its ecosystem allocation, with an initial target yield of 6% annually. The exchange plans to use its revenue for ongoing buybacks, while the treasury will be flexibly allocated for staking, burns, partnerships, and its points program.