The virtual asset Liter (LIT) was newly listed on the Korean won (KRW) market of the domestic cryptocurrency exchange Upbit, with trading beginning on the afternoon of the 24th. The supported network for trading is Ethereum. The launch of KRW trading is expected to expand trading accessibility for domestic investors.

As of 1:06 p.m. on the 24th, LIT is trading at 5,005 won on the KRW market, up 2.02%.

■ LIT Token Used for Staking and Liquidity Participation in the Liter Protocol

Liter is a utility token issued on the Ethereum blockchain. It is used for staking and liquidity participation structures within the Liter protocol, a decentralized perpetual futures exchange.

The Liter protocol provides orderbook-based perpetual futures trading infrastructure. It employs a structure in which assets are deposited on the Ethereum Layer 1 (L1) while actual trade execution is processed in a Layer 2 (L2) environment.

The LIT token is used to grant participation quotas in LLP (Lighter Liquidity Pool), the Liter liquidity pool, through staking. According to Upbit, staking a certain amount or more also provides benefits such as exemption from withdrawal and transfer fees, as well as advantages related to trading fees.

■ Buy and Sell Restrictions in Early Listing... Only Limit Orders Allowed for About 2 Hours

Trading restrictions are also applied immediately after a new listing in order to reduce sharp price fluctuations. The restricted trading price is determined based on the market price provided by Upbit's BTC market.

For approximately 5 minutes after trading support begins, buy orders are restricted, and during the same period, lowest-price sell orders priced at 10% or more below the previous day's closing price are also restricted. In addition, for about 2 hours after trading support begins, orders of other types and conditions, except limit orders, are restricted.

The previous day's closing price of LIT on Upbit's BTC market was 0.00004500 BTC, equivalent to 4,803 won. However, this does not represent the opening trading price of the new KRW market; the actual market price may be formed by buy and sell orders after trading begins.

■ Deposits and Withdrawals Only via the 'LIT-Ethereum' Network... Caution Advised on Price Volatility

Network verification is required during the deposit and withdrawal process. Upbit announced that it only supports deposits and withdrawals via the designated LIT-Ethereum network. Using a different network may make it difficult to process deposits and withdrawals, so investors are advised to exercise caution.

While the new KRW market listing can be a factor that improves accessibility for domestic investors, there is also a possibility that price volatility will increase significantly in the early stages of listing as liquidity and orders converge at once. In particular, immediately after trading begins, it is necessary to examine factors such as the order book spread, trading volume, and price differences with overseas markets.

[This article was written with AI assistance. This article is not intended to encourage investment in or recommend the purchase or sale of any specific virtual asset. Virtual assets are subject to high price volatility and the possibility of principal loss, so investors should carefully verify the latest exchange announcements and project-related information before making prudent decisions.]