Upbit adds KRW market for Lighter’s LIT token

Upbit announced that it will launch a South Korean won (KRW) trading pair for Lighter’s utility token LIT at 1:00 pm KST on August 24. The new market will allow users to buy LIT directly with won, complementing the existing BTC‑LIT market.

Trading restrictions at launch

For the first five minutes after the KRW market opens, buy orders will be blocked and sell orders priced more than 10 % below the previous closing price will be restricted. Only limit orders will be accepted for the initial two‑hour period; market and other conditional orders will become available after that.

Deposit and withdrawal details

Deposits and withdrawals of LIT will be processed exclusively on the Ethereum network using Upbit’s designated contract address 0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2. Transfers from other networks or unsupported wallets may be rejected or delayed. The exchange also applies South Korea’s Travel Rule, requiring verification of source of funds for large or unverified deposits.

LIT staking and utility

LIT can be staked to gain access to Lighter’s Liquidity Pool (LLP). Each staked LIT permits a user to deposit up to 10 USDC into the pool, with a three‑day lock‑up period for unstaking. Stakers may also receive trading‑fee benefits and other platform incentives.

Market context and cautions

Upbit warned that the KRW market could be postponed if sufficient liquidity is not secured after deposits open. The exchange advises traders to compare prices with global markets, as the KRW pair will start with limited price history and may experience volatility.

Token distribution overview

LIT launched with 25 % of its supply distributed via a community airdrop. The remaining supply is split evenly between ecosystem programs and the team/investors, subject to lock‑up and vesting schedules.