The LIT token rose 21% to about $3.90, drawing renewed attention to its partnership with Robinhood Wallet and a recent assessment by Delphi Digital. Robinhood announced the wallet integration in July, months before the current price rally. The exchange allocated 11 million LIT tokens to a rewards program for eligible traders. Delphi included Lighter in its research on businesses that generate revenue from speculative trading. U.S. residents remain excluded from Lighter perpetual futures offered through Robinhood Wallet. CoinGecko reported LIT at $3.88, up 21.3% over 24 hours, with trading volume near $125.5 million. The token’s daily range was $3.21 to $3.97, and its market capitalization approached $974.4 million. Against Bitcoin, LIT gained 18.3%; against Ether, it rose 17.6%. CoinGecko listed a circulating supply of 250 million tokens against a maximum supply of 1 billion. The Robinhood integration dates to July 1, when the company introduced access to Lighter perpetual futures inside its self-custody wallet. The service was limited to eligible users in selected jurisdictions. The rollout coincided with the launch of Robinhood Chain, an Ethereum layer-2 network built on Arbitrum technology, presented at a London event. Robinhood’s announcement earmarked 11 million LIT tokens for its community through a points program. Participants who trade perpetual futures via Robinhood Wallet earned twice the points of those using Lighter’s web platform, with points later convertible into tokens under the exchange’s terms. Delphi Digital referenced Lighter in an October 2023 report examining speculative trading venues, placing it alongside Hyperliquid. The report cited roughly $56 billion in Lighter trading volume over the prior 30 days, according to DefiLlama data from October 6. Comparable volumes were $203 billion for Hyperliquid, $66 billion for Variational, and $60 billion for Aster. Delphi noted that some activity in the sector stemmed from traders seeking incentive rewards. The research described Lighter as an order-book exchange that uses zero-knowledge proofs to verify trades, offering fee-free trading for standard accounts. Revenue opportunities were tied to premium accounts and distribution agreements, with the Robinhood arrangement characterized as a revenue-sharing deal operating outside the United States since July. Robinhood’s product disclosures indicated that Lighter perpetual futures were unavailable to residents of the United States, United Kingdom, Canada, Switzerland, United Arab Emirates, Singapore, and other restricted jurisdictions. Users executed transactions directly through their self-custody wallets and Lighter’s smart contracts, with Robinhood Non-Custodial providing wallet-management services. The company also described its Stock Tokens as debt securities that grant economic exposure to underlying equities without conferring ownership or voting rights, enabling 24/7 trading and use as collateral in decentralized applications. Separately, Axiom launched a public Lighter EVM development network on October 16, linking an Ethereum-compatible environment with Lighter Core, the exchange’s order-matching and risk engine. The devnet allowed smart contracts to read account balances, positions, orders, and market data, and to submit, modify, or cancel orders via asynchronous instructions executed within seconds. Developers could deposit assets on the settlement layer, transfer them between Core and the EVM, and withdraw to that layer. The release featured one-second blocks, ETH gas payments, and support for tools such as Foundry, Hardhat, Viem, and Ethers. Limitations included mocked proofs for settlement finalization and an incomplete asset-recovery mechanism. Access to Core data was initially restricted to the latest block, with historical reads planned for a future update. Axiom admitted developers in batches and provided public documentation and bridge-contract code during the admission process, intending to open the network fully in the coming weeks.