Upbit Adds LIT to South Korean Won Market

Upbit has implemented specific safeguards to manage potential volatility during the launch. For the first five minutes of trading, the exchange will block buy orders and restrict sell orders priced more than 10% below the token's previous closing price of 0.00004500 BTC. Additionally, order types will be confined to limit orders for the initial two hours of operation to ensure market stability.

Transactions are strictly limited to the Ethereum network, and the exchange has explicitly warned users to verify the contract address as 0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 before initiating transfers. Deposits originating from unauthorized virtual asset service providers or unverified personal wallets may face significant delays or outright rejection due to South Korea’s Travel Rule requirements.

LIT serves as the utility token for Lighter, a decentralized exchange protocol focused on perpetual futures. Beyond its trading utility, the token allows holders to stake into the Lighter Liquidity Pool, with each staked unit currently enabling a deposit of up to 10 USDC. While the protocol functions via an Ethereum layer 2 environment, the token itself remains an Ethereum-based asset.