Upbit Launches LIT/KRW Market for Lighter With Temporary Order Restrictions

TheNewsCryptoPublished on 2026-08-24Last updated on 2026-08-24

Abstract

Upbit will launch a LIT/KRW trading market on August 24 at 1:00 p.m. KST. The listing price is based on the current LIT/BTC closing price of approximately 4,803 KRW, though this is only a guide. Initial trading will have restrictions: a 5-minute halt on buy orders, sell restrictions if the price drops over 10%, and only limit orders permitted for the first two hours. Deposits and withdrawals for LIT will be via the Ethereum network, subject to South Korea's Travel Rule. LIT is the utility token for Lighter, a decentralized perpetual futures exchange. Staking LIT grants access to Lighter's Liquidity Pool, allowing users to deposit up to 10 USDC per staked token with a three-day lock-up for potential trading benefits. The token's distribution included 25% for community airdrops and 50% for the Lighter ecosystem.

The Upbit platform will be listing a Korean won market for the LIT token from the Lighter project at 1:00 p.m. KST on August 24. The token is currently available for exchange against Bitcoin, which will serve as a basis for pricing. According to Upbit, the LIT/BTC closing price was 0.00004500 BTC, which equals about 4,803 Korean won. However, this number is merely a trading guide and has nothing to do with the initial price of LIT.

Trading and Transfer Restrictions at Upbit

Buy orders for LIT/KRW on Upbit will be halted for 5 minutes, and sell orders will be restricted if the price falls more than 10% below the reference price. The exchange will allow only limit orders during the first two hours after the announcement and enable market orders afterward. Upbit may delay trading when there is not enough liquidity and suggests checking prices on the local and foreign markets. Upbit will allow LIT deposits and withdrawals only through the Ethereum network. South Korean Travel Rule restrictions apply for deposits and withdrawals, and private wallets must prove ownership. Upbit may request the source of funds for substantial deposits.

How Does LIT Connect Staking With Lighter’s Liquidity Pool?

Lighter runs a decentralized perpetual futures exchange on the order-book system with the use of cryptographic proofs. LIT is a utility token for Lighter, whereas staking grants access to the Liquidity Pool of Lighter. For now, each staked LIT allows users to deposit up to 10 USDC, with a three-day lock-up period. Stakers can get trading and funding benefits. Lighter gave 25% of LIT to community airdrops and 50% to the Lighter ecosystem.

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TagsBlockchainCryptocurrencyKorealighterLITLIT TokenSouth korean exchangesUpbit

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Related Questions

QWhat is the main announcement in the article regarding Upbit and the LIT token?

AUpbit will launch a Korean won (KRW) market for the LIT token from the Lighter project at 1:00 p.m. KST on August 24.

QWhat are the temporary order restrictions for the new LIT/KRW market on Upbit?

ABuy orders will be halted for the first 5 minutes. Sell orders will be restricted if the price falls more than 10% below the reference price. Only limit orders are allowed during the first two hours after the announcement.

QWhat network does Upbit specify for LIT deposits and withdrawals, and what additional rules apply?

AUpbit will allow LIT deposits and withdrawals only through the Ethereum network. South Korean Travel Rule restrictions apply, requiring private wallets to prove ownership. Upbit may request the source of funds for substantial deposits.

QWhat is the utility of the LIT token in relation to the Lighter protocol?

ALIT is a utility token for Lighter. Staking LIT grants access to the Lighter Liquidity Pool, allowing users to deposit up to 10 USDC per staked LIT with a three-day lock-up period and earn trading and funding benefits.

QAccording to the article, what was the basis for pricing the new LIT/KRW market, and what was the cited reference price?

AThe pricing is based on the LIT/BTC trading pair. Upbit cited the LIT/BTC closing price as 0.00004500 BTC, which roughly equals 4,803 Korean won, but noted this is only a trading guide, not the initial price.

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