South Korea-based cryptocurrency exchange Bithumb has announced it will make its Lighter (LIT) asset available for trading on the Korean won (KRW) market.
According to a statement from the stock exchange, LIT will be traded on the KRW market today at 7:00 PM.
The announcement stated that deposit and withdrawal transactions for LIT would begin within two hours of the notification being published. It was emphasized that the only supported network for LIT is Ethereum, and transfers over other networks would not be supported.
Bithumb also announced that 33 block confirmations will be required for LIT deposits. The reference price for the token’s entry into the KRW market was announced as 2,383 won.
Lighter (LIT) is described as a decentralized perpetual futures exchange built on a zero-knowledge rollup architecture, aiming for the speed and ease of use of centralized exchanges with its CLOB (central limit order book) model.
The exchange announced that, for a secure trading environment, it will restrict buy orders in the first 5 minutes after listing; and for sell orders, no orders can be placed outside the specified price range during the first 5 minutes. Order types other than limit orders will also be temporarily disabled for approximately the first two hours.
Bithumb reminded investors that crypto assets involve high risk and recommended that they implement risk management practices.
*This is not investment advice.