$675M Lighter airdrop ranks among largest in crypto history

Lighter has completed a $675m token airdrop, making it the 10th largest airdrop by value in cryptocurrency history.

Blockchain data platform Bubblemaps said the airdrop distributed Lighter Infrastructure Tokens to early users.

$675M airdropped to early participants, with only $30M withdrawn from Lighter.

Bubblemaps said.

The giveaway surpassed 1inch Network’s $671m airdrop but remained below LooksRare’s $712m distribution.

The largest airdrop on record remains Uniswap’s $6.43bn token distribution in 2020.

Lighter operates as a decentralised exchange offering perpetual futures trading.

Data shared on social media showed roughly 75% of recipients were still holding their tokens after the airdrop.

Around 7% of recipients bought additional LIT tokens on the open market following distribution.

Some early users reported receiving six-figure token allocations from the airdrop.

Investors have raised concerns over Lighter’s tokenomics and supply allocation.

Half of the LIT supply is reserved for the ecosystem, while the remaining half is allocated to the team and investors.

Critics said the team allocation is high compared with other decentralised finance projects.

Others noted similarities between Lighter’s token model and rival platform Hyperliquid.

The LIT token reached a market capitalisation of about $678m, trading above $2.71.

At current levels this may only be a short-term trade without stronger user retention.

Casa said.

At the time of reporting, Lighter price was $2.53.