White Paper Report



	White paper for crypto-assets other than asset-referenced tokens or e-money tokens

	Digital Token Identifier:	DSZ0J72T7
	Operator of the trading platform:	54930069NLWEIGLHXU42 - OKX Europe Limited
	Type of submission:	New

Table of content
General information
SUMMARY
Part A - Information about offeror or person seeking admission to trading
Part B - Information about issuer, if different from offeror or person seeking admission to trading
Part C - Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
Part D - Information about other token project
Part E - Information about offer to public of other tokens or their admission to trading
Part F - Information about other tokens
Part G - Information on rights and obligations attached to other tokens
Part H – Information on underlying technology
Part I - Information on risks
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts




[Table 2] Template for white papers for crypto-assets other than asset-referenced tokens or e-money tokens

Template for white papers for crypto-assets other than asset-referenced tokens or e-money tokens [abstract]
General information
00 Table of content	boolean true	true
01 Date of notification	date	2026-08-28
02 Statement in accordance with Article 6(3) of Regulation (EU) 2023/1114	boolean true	This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union. The operator of the trading platform of the crypto-asset is solely responsible for the content of this crypto-asset white paper.
03 Compliance statement in accordance with Article 6(6) of Regulation (EU) 2023/1114	boolean true	This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 of the European Parliament and of the Council and, to the best of the knowledge of the management body, the information presented in the crypto-asset white paper is fair, clear and not misleading and the crypto-asset white paper makes no omission likely to affect its import.
04 Statement in accordance with Article 6(5), points (a), (b), (c), of Regulation (EU) 2023/1114	boolean true	The crypto-asset referred to in this crypto-asset white paper may lose its value in part or in full, may not always be transferable and may not be liquid
05 Statement in accordance with Article 6(5), point (d), of Regulation (EU) 2023/1114	boolean true	The utility token referred to in this white paper may not be exchangeable against the good or service promised in this white paper, especially in the case of a failure or discontinuation of the crypto-asset project.
06 Statement in accordance with Article 6(5), points (e) and (f), of Regulation (EU) 2023/1114	boolean true	The crypto-asset referred to in this white paper is not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council or the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.
SUMMARY
07 Warning in accordance with Article 6(7), second subparagraph, of Regulation (EU) 2023/1114	boolean true	Warning This summary should be read as an introduction to the crypto-asset white paper. The prospective holder should base any decision to purchase this crypto –asset on the content of the crypto-asset white paper as a whole and not on the summary alone. The offer to the public of this crypto-asset does not constitute an offer or solicitation to purchase financial instruments and any such offer or solicitation can be made only by means of a prospectus or other offer documents pursuant to the applicable national law. This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 of the European Parliament and of the Council or any other offer document pursuant to Union or national law.
08 Characteristics of the crypto-asset	textBlock	The LIT token is an ERC-20 utility token issued on the Ethereum blockchain network with a fixed maximum total supply of 1,000,000,000 tokens. It is designed to function within the Lighter decentralised exchange ("DEX") ecosystem, enabling access to staking programs, Lighter Liquidity Pool ("LLP") deposit capacity, protocol revenue buyback-and-burn mechanisms, and prospective protocol governance. LIT does not grant any equity, claim on capital, dividend rights, or legal ownership in the issuer entity.
09 Further information about utility tokens	textBlock	The LIT token provides utility within the Lighter decentraliszed perpetual futures and spot exchange ecosystem, an application-specific zero-knowledge rollup settling to Ethereum. Holding and staking LIT enables token holders to unlock deposit capacity within the Lighter Liquidity Pool (LLP) at a ratio of up to 10 USDC per staker per 1 LIT staked, participate in continuous staking reward allocations funded by the ecosystem reserve, and benefit from programmatic market buybacks funded by trading fee revenue. Access to platform features is available to users interacting with the protocol smart contracts via web interface or API endpoints, subject to geographic availability and platform terms. The LIT token is freely and instantly transferable, utilising the underlying blockchain network's standard processes.
10 Key information about the offer to the public or admission to trading	textBlock	This whitepaper is published solely in connection with the admission to trading of the LIT token on OKX Europe Limited 's trading platform. There has been no offer of the crypto-asset to the public, and the crypto-asset has not been made available in exchange for fiat currency or other crypto-assets prior to its listing. The crypto-asset will be admitted to trading via OKX Europe Limited , an authorised crypto-asset service provider ("CASP") operating within the European Union. The trading admission does not involve any subscription, sale, or fundraising process. The purpose of this document is to provide key information regarding the characteristics of the crypto-asset, its governance, rights, and associated risks, to enable informed decision-making by users and market participants in the context of its admission to trading. Access to the crypto-asset on the trading platform may be subject to user verification, platform conditions, or applicable legal restrictions depending on the jurisdiction.
Part A - Information about offeror or person seeking admission to trading
A.1 Name	N/A		.
A.2 Legal form	N/A		.
A.3 Registered address
Registered addess	N/A		.
Country	N/A		.
Sub-division	N/A		.
A.4 Head office
Head office	N/A		.
Country	N/A		.
Sub-division	N/A		.
A.5 Registration date	N/A		.
A.6 Legal entity identifier	N/A		.
A.7 Another identifier required pursuant to applicable national law	N/A		.
A.8 Contact telephone number	N/A		.
A.9 E-mail address	N/A		.
A.10 Response time (days)	N/A		.
A.11 Parent company	N/A		.
A.12 Members of the management body
Member #1	N/A		.
Identity	N/A		.
Business address	N/A		.
Function	N/A		.
A.13 Business activity	N/A		.
A.14 Parent company business activity	N/A		.
A.15 Newly established	N/A		.
A.16 Financial condition for the past three years	N/A		.
A.17 Financial condition since registration	N/A		.
Part B - Information about issuer, if different from offeror or person seeking admission to trading
B.1 Issuer different from offerror or person seeking admission to trading	boolean	true
B.2 Name	text	Elliot Technologies, Inc
B.3 Legal form	text	Corporation
B.4 Registered address
Registered addess	text	131 Continental Drive, Suite 305, Newark, Delaware 19713, United States
Country	enumeration	United States of America
Sub-division	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
B.5 Head office
Head office	text	1680 Michigan Avenue, Suite 900, Miami Beach, Florida 33139
Country	enumeration	United States of America
Sub-division	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
B.6 Registration date	date	2016-10-07
B.7 Legal entity identifier	LEI
B.8 Another identifier required pursuant to applicable national law	text	6175467
B.9 Parent company	text	No information could be identified in regards to this field at the time of drafting this whitepaper.
B.10 Members of the management body
Member #1	id	1
Identity	text	Vladimir Novakovski
Business address	text	1680 Michigan Ave, STE 900, Miami Beach, FL33139.
Function	text	CEO
Member #2	id	1
Identity	text	Margaret Parsons
Business address	text	1680 Michigan Ave, STE 900, Miami Beach, FL33139.
Function	text	Head of Operations
B.11 Business activity	textBlock	Elliot Technologies, Inc. is a financial technology software company engaged in the research, engineering, development, and operation of high-performance decentralized financial trading infrastructure, application-specific zero-knowledge rollup layer-2 networks, and automated order-book matching engines.
B.12 Parent company business activity	textBlock	No information could be identified in regards to this field at the time of drafting this whitepaper.
Part C - Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
C.1 Name	text	OKX Europe Limited
C.2 Legal form	text	Limited Liability Company
C.3 Registered address
Registered address	text	Piazzetta Business Plaza, Office Number 4, Floor 2, Triq Ghar il-Lembi, Sliema SLM1562, Malta
Country	enumeration	Malta
Sub-division	text	N/A
C.4 Head office
Head office	text	See C.3
Country	enumeration	Malta
Sub-division	text	N/A
C.5 Registration date	date	2018-09-07
C.6 Legal entity identifier	LEI	54930069NLWEIGLHXU42
C.7 Another identifier required pursuant to applicable national law	text	C 88193
C.8 Parent company	text	OKC International Holding Company Limited
C.9 Reason for crypto-asset white paper preparation	textBlock	This crypto-asset whitepaper has been prepared in accordance with Regulation (EU) 2023/1114 (MiCA) for the purpose of: - The admission to trading of LIT on regulated platforms, starting with the OKX Exchange. OKX Europe Limited as a result of being a licenced CASP endeavours to fulfill the obligations established under MiCA and the respective MFSA guidelines to: - Notify this whitepaper to the MFSA; - Publish the whitepaper publicly; - And ensure its registration in the MiCA register maintained by the European Securities and Markets Authority (ESMA). This whitepaper has been prepared to provide transparent, accurate, and fair information to prospective token holders and regulatory authorities in line with the principles of MiCA.
C.10 Members of the management body
Member #1	id	1
Identity	text	Erald Henri J. Ghoos
Business address	text	See C.3
Function	text	Director
Member #2	id	2
Identity	text	Fang Hong
Business address	text	See C.3
Function	text	Director
Member #3	id	3
Identity	text	Joseph Portelli
Business address	text	See C.3
Function	text	Director
Member #4	id	4
Identity	text	Wei Man Cheung
Business address	text	See C.3
Function	text	Director
C.11 Operator business activity	textBlock	OKX Europe Limited is licensed as a Crypto-Asset Service Provider by the Malta Financial Services Authority, bearing licence number OEUR-24352, to provide crypto services under the Markets in Crypto-Assets Act, Chapter 647, Laws of Malta and is the operator of a Trading Platform for Crypto Assets, in accordance with Article 3(1)(18) of Regulation (EU) 2023/1114 (MiCA).
C.12 Parent company business activity	textBlock	N/A
C.13 Other persons drawing up the crypto-asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	text	N/A
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	text	N/A
Part D - Information about other token project
D.1 Crypto-asset project name	text	Lighter
D.2 Crypto-asset name	text	See F.13
D.3 Abbreviation	text	See F.13
D.4 Crypto-asset project description	textBlock	Lighter is a high-performance decentralized financial exchange designed for perpetual futures and spot trading. Built as an application-specific Layer-2 zero-knowledge rollup settling directly to the Ethereum mainnet, Lighter utilizes custom zero-knowledge circuit architecture (migrated to a plonky2/Poseidon2 proof construction) to execute order-book matching, position management, and liquidation verification off-chain while maintaining Ethereum-level settlement security. The platform provides institutional-grade throughput and sub-second execution speeds without taking custody of user assets, combining centralized exchange performance with transparent, verifiable cryptographic proofs.
D.5 Details of all natural or legal persons involved in implementation of crypto-asset project
Person #1	id	1
Type of person	enumeration	Other person involved in implementation
Name of person	text	Elliot Technologies, Inc
Business address of person	text	1680 Michigan Ave, STE 900, Miami Beach, FL33139.
Domicile of company	enumeration	United States of America
Person #2	id	2
Type of person	enumeration	Other person involved in implementation
Name of person	text	Vladimir Novakovski
Business address of person	text	1680 Michigan Ave, STE 900, Miami Beach, FL33139.
Domicile of company	enumeration
Person #3	id	3
Type of person	enumeration	Other person involved in implementation
Name of person	text	Margaret Parsons
Business address of person	text	1680 Michigan Ave, STE 900, Miami Beach, FL33139.
Domicile of company	enumeration
D.6 Utility token classification	boolean	true
D.7 Key features of goods or services for utility token projects	text	The Lighter protocol offers non-custodial perpetual futures and spot order-book trading through an application-specific zero-knowledge rollup. Key infrastructure capabilities include a centralized off-chain order matching engine with verifiable zero-knowledge proof generation, multi-asset collateral support, the LLP providing automated market-making liquidity, and integrated emergency withdrawal mechanics (desert mode) that permit users to autonomously extract funds directly from Ethereum Layer-1 contracts if sequencer availability is interrupted.
D.8 Plans for the token
Description of past milestones	textBlock	October 2025: Launch of Lighter public mainnet on Ethereum, deploying the Layer-2 zero-knowledge rollup order-book engine. December 2025: Execution of the Token Generation Event (TGE) and 250 million LIT (25% of supply) airdrop to Seasons 1 and 2 points participants. January 2026: Rollout of the LIT staking portal, enabling holders to stake LIT for fixed APR rewards and unlock LLP deposit quotas. July 2026: Implementation of the permanent buyback-and-burn mechanism, executing initial burns of repurchased LIT via trading fee revenues.
Description of future milestones	textBlock	Q4 2026: Implementation of progressive protocol decentralization, expanding off-chain verification roles. 2027: Activation of staking-based validator, prover verification, and oracle price-validation roles for LIT stakers. Ongoing: Expansion of cross-chain liquidity access and perpetual market pair onboarding under community governance frameworks.
D.9 Resource allocation	text	The total maximum supply of LIT was fixed at deployment at 1,000,000,000 tokens. The initial distribution breakdown established at TGE is structured as follows: Community Airdrop (25.0% / 250,000,000 LIT): Fully unlocked and distributed at TGE on December 30, 2025, converting points earned during Seasons 1 and 2. Ecosystem Reserve & Staking Incentives (25.0% / 250,000,000 LIT): Controlled by the project treasury to fund community growth, liquidity partnerships, and ongoing staking rewards (targeting ~7.5 million LIT distributed annually). Core Team & Contributors (26.0% / 260,000,000 LIT): Allocated to current and future team members, subject to a 12-month cliff ending December 30, 2026, followed by 36 months of linear monthly vesting through December 2029. Strategic Investors (24.0% / 240,000,000 LIT): Allocated to private venture backers, subject to a 12-month cliff ending December 30, 2026, followed by 36 months of linear monthly vesting through December 2029.
D.10 Planned use of collected funds or other tokens	text	Treasury Asset Allocations: The 250 million LIT allocated to the Ecosystem Reserve is deployed to fund protocol liquidity growth, market-maker partnerships, developer grants, and user staking yields. External Financing Capital: Off-chain capital raised through private financing rounds—including a $21 million venture round in 2024 (led by Haun Ventures and Craft Ventures) and a $68 million round in November 2025 (co-led by Founders Fund and Ribbit Capital at a $1.5 billion valuation)—is utilized by Elliot Technologies, Inc. for core engineering expansion, zero-knowledge prover infrastructure maintenance, security audits, and global legal compliance.
Part E - Information about offer to public of other tokens or their admission to trading
E.1 Public offering or admission to trading	enumeration	Admission to trading
E.2 Reasons for public offer or admission to trading	textBlock	Facilitating secondary trading for users on the OKX Trading platform in compliance with the MiCA regulatory framework.
E.3 Fundraising target
Target expressed in currency	monetary	0	EUR
Target expressed in units	decimal	0
Target expressed in digital token identifier	text	N/A
E.4 Minimum subscription goals
Goals expressed in currency	monetary	0	EUR
Goals expressed in units	decimal	0
Goals expressed in digital token identifier	text	N/A
E.5 Maximum subscription goals
Goasl expressed in currency	monetary	0	EUR
Goals expressed in units	decimal	0
Goals expressed in digital token identifier	text	N/A
E.6 Oversubscription acceptance	boolean	false
E.7 Oversubscription allocation	text
Issue price details
E.8 Issue price	decimal
E.9 Official currency determining issue price	enumeration
E.9 Any other tokens determining issue price	text
E.10 Subscription fee
Fee expressed in currency	monetary	0	EUR
Fee expressed in units	decimal	0
Fee expressed in digital token identifier	text	N/A
E.11 Offer price determination method	text	N/A
E.12 Total number of offered or traded other tokens	integer	1000000000
E.13 Targeted holders	enumeration	All types of investors
E.14 Holder restrictions	text	N/A
E.15 Reimbursement notice	boolean true	N/A
E.16 Refund mechanism	textBlock	N/A
E.17 Refund timeline	text	N/A
E.18 Offer phases	textBlock	N/A
E.19 Early purchase discount	textBlock	N/A
E.20 Time-limited offer	boolean	false
E.21 Subscription period beginning	date
E.22 Subscription period end	date
E.23 Safeguarding arrangements for offered funds or other tokens	textBlock	N/A
E.24 Payment methods for other token purchase	textBlock	In line with OKX current payment method offering.
E.25 Value transfer methods for reimbursement	textBlock	N/A
E.26 Right of withdrawal	textBlock	N/A
E.27 Transfer of purchased other tokens	textBlock	In line with OKX current Terms of Service.
E.28 Transfer time schedule	text	N/A
E.29 Purchaser's technical requirements	textBlock	In line with OKX current Terms of Service.
Other token services provider characteristics
E.30 Other token service provider (CASP) name	text	OKX Europe Limited
E.31 CASP identifier	LEI	54930069NLWEIGLHXU42
E.32 Placement form	enumeration	Not applicable
Trading platforms characteristics
E.33 Trading platforms name	text	OKX
E.34 Trading platforms market identifier code (MIC)	text	N/A
E.35 Trading platforms access	text	Users may access LIT through the OKX Trading Platform via the Application Program Interface ("API"), the Application Software ("OKX App"), as well as the official OKX website as follows; www.okx.com.
E.36 Involved costs	textBlock	In line with the OKX current Terms of Service.
E.37 Offer expenses	textBlock	N/A
E.38 Conflicts of interest	textBlock	A crypto-asset is listed following a decision rendered independently by the Listing Committee in line with the internal policies of OKX Europe Limited. Any potential disclosures that may arise of conflicts of interest are published on the OKX website.
E.39 Applicable law	textBlock	Malta
E.40 Competent court	textBlock	Malta
Part F - Information about other tokens
F.1 Crypto-asset type	text	Other Crypto-Asset.
F.2 Other token functionality	textBlock	The LIT token operates as a multi-faceted utility token within the Lighter DEX ecosystem. Its primary functionalities include: Staking Rewards: Holders stake LIT on the Lighter protocol to earn continuous token rewards targeted at a 6% fixed annual rate funded by the ecosystem allocation. Liquidity Pool Capacity (LLP Access): Staking LIT unlocks deposit rights into the Lighter Liquidity Pool at a ratio of up to 10 USDC in deposit cap per 1 LIT staked. Value Accrual & Burn Model: Protocol trading fee revenues are programmatically allocated to execute 24-hour TWAP market buybacks of LIT, which are subsequently transferred to the Ethereum burn address (0x0000...dead). Prospective Governance: Contemplated future participation in protocol risk parameter configurations and parameter signaling.
F.3 Planned application of functionalities	textBlock	All functionalities from the above specified list apply as of the writing of this whitepaper.
A description of the characteristics of the other token, including the data necessary for classification of the crypto-asset white paper in the register referred to in Article 109 of Regulation (EU) 2023/1114, as specified in accordance with paragraph 8 of that Article
F.4 Type of crypto-asset white paper	enumeration	Other crypto-asset token white paper
F.5 Type of submission	enumeration	New
F.6 Other token characteristics	textBlock	LIT is a fungible Layer-1 ERC-20 utility token deployed on the Ethereum blockchain network with a fixed maximum total supply of 1,000,000,000 tokens. The circulating supply fluctuates based on scheduled linear unlocks from core team and investor vesting contracts and ecosystem reward distributions, offset by permanent token burns executed via protocol buybacks. Ownership of LIT does not confer equity, voting control over legal entities, or legal entitlement to corporate revenues.
F.7 Commercial name or trading name	text	See F.13
F.8 Website of the issuer	text	https://lighter.xyz/
F.9 Starting date of offer to the public or admission to trading	date	2026-09-28
F.10 Publication date	date	2026-09-28
F.11 Any other services provided by the issuer	textBlock	N/A
F.12 Language or languages of white paper	text	English
F.13 Digital token identifier code used to uniquely identify the crypto-asset or each of the several crypto assets to which the white paper relates, where available	text	DSZ0J72T7
F.14 Functionally fungible group digital token identifier, where available	text	W0746TPZW
F.15 Voluntary data flag	boolean	false
F.16 Personal data flag	boolean	true
F.17 LEI eligibility	boolean	true
F.18 Home member state	enumeration	Malta
F.19 Host member states #1	enumerationSet	Austria
F.19 Host member states #2	enumerationSet	Belgium
F.19 Host member states #3	enumerationSet	Bulgaria
F.19 Host member states #4	enumerationSet	Croatia
F.19 Host member states #5	enumerationSet	Cyprus
F.19 Host member states #6	enumerationSet	Czechia
F.19 Host member states #7	enumerationSet	Denmark
F.19 Host member states #8	enumerationSet	Estonia
F.19 Host member states #9	enumerationSet	Finland
F.19 Host member states #10	enumerationSet	France
F.19 Host member states #11	enumerationSet	Germany
F.19 Host member states #12	enumerationSet	Greece
F.19 Host member states #13	enumerationSet	Hungary
F.19 Host member states #14	enumerationSet	Iceland
F.19 Host member states #15	enumerationSet	Ireland
F.19 Host member states #16	enumerationSet	Italy
F.19 Host member states #17	enumerationSet	Latvia
F.19 Host member states #18	enumerationSet	Liechtenstein
F.19 Host member states #19	enumerationSet	Lithuania
F.19 Host member states #20	enumerationSet	Luxembourg
F.19 Host member states #21	enumerationSet	Malta
F.19 Host member states #22	enumerationSet	Netherlands
F.19 Host member states #23	enumerationSet	Norway
F.19 Host member states #24	enumerationSet	Poland
F.19 Host member states #25	enumerationSet	Portugal
F.19 Host member states #26	enumerationSet	Romania
F.19 Host member states #27	enumerationSet	Slovakia
F.19 Host member states #28	enumerationSet	Slovenia
F.19 Host member states #29	enumerationSet	Spain
F.19 Host member states #30	enumerationSet	Sweden
Part G - Information on rights and obligations attached to other tokens
G.1 Purchaser rights and obligations	textBlock	There are no obligations attached for/of the purchaser. Purchasers of the LIT token acquire programmatic access rights within the Lighter DEX platform, specifically the ability to stake tokens to receive continuous staking rewards, unlock deposit quota allowances in the LLP, and participate in future protocol governance frameworks if and when formally implemented on-chain. Ownership of the token does not grant any claim to profits, dividends, or assets of the issuer.
G.2 Exercise of rights and obligations	textBlock	As the token does not grant obligations, there is no conceivable way to exercise such obligations. Purchasers can exercise the rights afforded to them directly by interacting with the verified Lighter smart contracts on the Ethereum blockchain or Layer-2 rollup interface using non-custodial Web3 wallets. Staking rights are activated by depositing LIT into the protocol staking contract, which enforces a mandatory three-day unbonding lockup period upon requesting withdrawal. Staked tokens automatically grant LLP deposit capacity at the established 10:1 ratio.
G.3 Conditions for modifications of rights and obligations	textBlock	As the token does not grant obligations, there are no conditions under which the obligations may be modified. Rights associated with the LIT token may be modified, updated, or expanded through core protocol smart contract upgrades executed by the platform operator (Elliot Technologies, Inc.) or through future binding community governance processes. Upgrades to Lighter rollup contracts are governed by an Upgrade Gatekeeper smart contract featuring a 21-day delay, which may be reduced under emergency risk-mitigation scenarios by an authorized multisignatory key structure.
G.4 Future public offers	textBlock	N/A
G.5 Issuer retained other token	integer	260000000
G.6 Utility token classification	boolean	true
G.7 Key features of goods or services utility tokens	text	The LIT token grants token holders utility within the Lighter decentralized trading ecosystem. Key features include unlocking deposit capacity in the multi-asset LLP, earning continuous token yield distributions via protocol staking, benefiting from supply reductions driven by trading fee buyback-and-burn mechanisms, and prospective access to protocol fee-tier discounts and governance parameter signaling.
G.8 Utility tokens redemption	text	LIT tokens are redeemed for utility within the platform by staking them into the Lighter smart contract architecture. Staking LIT grants immediate operational entitlement to deposit funds into the Lighter Liquidity Pool up to the staker's individual quota limit (10 USDC per 1 LIT staked). Unstaking tokens requires initiating an on-chain unbonding request subject to a fixed 3-day withdrawal delay before tokens return to liquid wallet balances.
G.9 Non-trading request	boolean	true
G.10 Other tokens purchase or sale modalities	text	N/A
G.11 Other tokens transfer restrictions	text	In line with OKX current Terms of Service.
G.12 Supply adjustment protocols	boolean	false
G.13 Supply adjustment mechanisms	text	N/A
Other token schemes details
G.14 Token value protection schemes	boolean	false
G.15 Token value protection schemes description	textBlock	N/A
G.16 Compensation schemes	boolean	false
G.17 Compensation schemes description	textBlock	N/A
G.18 Applicable law	textBlock	Malta
G.19 Competent court	textBlock	Malta
Part H – Information on underlying technology
H.1 Distributed ledger technology (DTL)	text	See F.13
H.2 Protocols and technical standards	text	The LIT token is implemented using the ERC‑20 token standard on the Ethereum blockchain. ERC‑20 is the widely adopted standard for fungible tokens on Ethereum, defining a common interface for token issuance, transfers, and third-party integrations. ERC‑20 tokens are deployed via smart contracts that control total supply, balances, and permissions, and are compatible with Ethereum wallets, DeFi applications, and decentralized exchanges. The standard supports functions such as transfer, approve, mint, and burn, enabling programmable token logic through Ethereum's account-based architecture.
H.3 Technology used	textBlock	The LIT token is deployed on the Ethereum blockchain using the ERC‑20 token standard. Ethereum is a general-purpose Layer 1 blockchain that supports smart contract execution via the Ethereum Virtual Machine (EVM). The token contract is written in Solidity and interacts with the Ethereum network using RPC-compatible clients. The Ethereum ecosystem enables composability with DeFi, NFT, and DAO infrastructure, and supports programmable token functionality within a Turing-complete environment.
H.4 Consensus mechanism	text	Ethereum uses a Proof-of-Stake (PoS) consensus mechanism. Validators are selected to propose and attest to new blocks based on the amount of ETH they have staked. Blocks are finalized through a checkpoint-based finality system, with strong economic incentives to penalize dishonest behavior. This mechanism supports decentralization, finality, and high security. This consensus model ensures the integrity of the blockchain, including the execution and recording of all associated transactions for the LIT token.
H.5 Incentive mechanisms and applicable fees	text	Ethereum validators earn rewards in the native token (ETH) for producing and attesting to blocks. Gas fees are paid in ETH and are required to execute transactions or smart contract calls, including LIT token transfers. Under EIP-1559, a portion of the base fee is burned while the remainder is distributed to validators. Fees vary depending on network congestion and computational complexity of the transaction.
H.6 Use of distributed ledger technology	boolean	false
H.7 DLT functionality description	textBlock	N/A
Other token audit details
H.8 Audit	boolean	true
H.9 Audit outcome	textBlock	The core zero-knowledge circuits of the zkLighter protocol underwent a formal cryptographic security audit by independent security audit firm zkSecurity (report dated January 22, 2024). The audit evaluated the zero-knowledge circuits responsible for block generation and transaction verification, identifying two High-severity soundness issues regarding Merkle proof construction and Fiat-Shamir randomness, alongside one Medium-severity order-matching finding. All identified vulnerabilities were fully remediated prior to mainnet launch, and the evaluated hash construction was subsequently replaced when the prover architecture migrated to plonky2/Poseidon2. Additionally, in May 2026, L2Beat independently regenerated the zero-knowledge circuits from published source code and verified exact correspondence with deployed Ethereum emergency-withdrawal contracts.
Part I - Information on risks
I.1 Offer-related risks	textBlock	This whitepaper is submitted by OKX Europe Limited solely for the purpose of the assets admission to trading. No public offer of LIT tokens is being made by the issuer or OKX Europe Limited . Risks associated with the admission to trading include; Service-related Interruption; Holders may be unable to access the utility due to technical, operation, or regulatory disruptions. Jurisdictional limitations; LIT services or token utility may not be available in all jurisdictions, potentially restricting access. Platform Reliance; Access depends on third-party infrastructure (wallets,platforms) and service interruptions or failures may affect token utility. Limited Liability; OKX Europe Limited assumes no responsibility for the issuers project continuation, and token ownership does not confer contractual rights or guarantees. Unexpected Risks: Beyond the risks outlined in this whitepaper, there may be additional risks that are currently unforeseen. It is imperative to note that certain risks may emerge from unforeseen events, changes, or interactions among factors that are difficult to predict. These unexpected risks may significantly and negatively impact the crypto-asset, the project, or the parties involved.
I.2 Issuer-related risks	textBlock	Operational Risks; There is a risk that the issuer may face financial or operational difficulties, including insolvency, which could impact the continued development or availability of the services associated with the LIT token. Counterparty Risks; Counterparty risks may arise where the issuer relies on third-party service providers or technology partners. Reputational Risks; Adverse media and/or damage or loss of key personnel could negatively affect the ecosystem that the LIT token lives on. Competition Risk; The issuer may face increased competition or changes in market conditions that affect its ability to carry out its objectives. Regulatory Risks; The issuer may be subject to investigations, enforcement actions, or change in regulation that affect the tokens legal status in certain jurisdictions. Disclosure Risks; The issuer may not be required to provide financial statements, limiting LIT token holders visibility into the financial health status of the issuer/project. Issuer Risks; The information provided is based solely on publicly available sources and does not constitute any form of guarantee or warranty as to its accuracy or completeness.
I.3 Other tokens-related risks	textBlock	Market Volatility; The LIT token may be subject to significant volatility and could lose value rapidly, either due to market conditions or otherwise (issuer-related/technology/project implementation risks) Utility Risk; The LIT tokens utility depends on access to certain services, and any modification or discontinuation of those services could reduce the associated utility of the token. Smart Contract Risk; The LIT token may operate through smart contracts that may contain vulnerabilities, even if audited, and upgrades to the protocol or governance changes may affect functionality. Liquidity Risk; Periods of low/limited liquidity may occur, particularly if the demand for the token or its use case decreases, which could have adverse effects on the LIT tokens price and future use cases. Project Maturity Risk; Tokens associated with recently launched projects may carry increased risk due to limited development history, untested infrastructure, and/or the absence of a proven track record.
I.4 Project implementation-related risks	textBlock	Scalability Issues; There is a risk that the project may not be implemented or scaled as intended. Technical limitations or infrastructure bottlenecks could hinder the expected scalability of the project, especially if user demand exceeds network or protocol capacity. Governance Risk; The project may be subject to governance processes that involve on-chain voting or community proposals. Misaligned incentives, low participation, or malicious actors may affect the outcome of governance decisions and disrupt the project's roadmap. Centralisation Risk; Similar to governance risks outlined above, centralisation within the governance process, or validator centralisation could lead to a lack of decentralization within the network, which carries future risks in terms of trust within the project, and also in regards to future roadmaps where plans may not reflect the interests of the broader user base.
I.5 Technology-related risks	textBlock	Blockchain Performance Risk; The Ethereum blockchain, on which the token is issued, may experience downtime or congestion, which could delay or prevent token transfer or utility usage. Consensus Failure Risk; A failure in the blockchains consensus mechanism could result in halted transactions, unexpected behavior, or loss in network integrity. Smart Contract Vulnerabilities; Although the token uses audited or standard smart contract makeups (ERC-20 standard), undetected bugs, exploits, or implementation errors could compromise functionality or security. Upgradeability Risk; if the token or related contracts are upgradeable and have designated "owner" addresses, this introduces a central point of failure, and could be misused by malicious actors. Third-party Infrastructure Dependency; Interaction with the token or project may rely on external infrastructure (APIs, wallet services, off-chain governance voting). Outages or attacks may interrupt access to token-related services. Interoperability Risk; If the token interacts with other chains, bridges, or oracles, failures or exploits in those systems could affect the tokens operations. Protocol-level Risk; Upgrades or forks of the protocol itself may affect the token, which could lead to compatibility issues and/or unexpected token behaviour. Emerging Technology Risk; Advances in computing or undiscovered vulnerabilities in cryptographic algorithms may pose long-term security risks to the blockchain or associated smart contracts.
I.6 Mitigation measures	textBlock	Blockchain Performance Risk; The Ethereum blockchain has adopted a Proof-of-Stake consensus mechanism to improve network scalability and reduce latency. Ongoing upgrades to the network are designed to enhance throughput, and gas fees help prioritise transactions under load. Consensus Failure Risk; Ethereum Proof-of-Stake consensus mechanism includes validator incentives, slashing penalties for malicious actors, and finality checkpoints to ensure integrity. The validator set is large and globally distributed which reinforces decentralization of the network. Smart Contract Vulnerabilities; Smart contracts on Ethereum are immutable by design, unless explicitly designed to be upgradeable. The ecosystem encourages open source code, independent audits, and community input. Standardised libraries such as OpenZeppelin reduce coding errors by reusing tested components. Upgradeability Risk; Ethereum does not enforce upgrade functionalities within smart contracts, but supports their technical implementation. Risks related to upgradeable contracts can be mitigated through standard practices such as time delay triggers or multi-sig wallets. Third-party Infrastructure Dependency; The Ethereum blockchain & ecosystem supports decentralized indexing and querying via different protocols to reduce reliance on centralized third party data services. Interoperability Risk; Mitigations for cross-chain bridging include usage of audited bridges and token locking mechanisms. Protocol-level Risk; Ethereum maintains a public roadmap and follows a structured governance process. Core updates to the network undergo extensive testing and community reviews. Emerging Technology Risk; Ethereum developers monitor potential emerging technology threats, and are actively researching and developing quantum-resistant solutions. The network's modular design may allow for future cryptographic upgrades if required.
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts
J.1 Adverse impacts on climate and other environment-related adverse impacts	textBlock
Mandatory information on principal adverse impacts on the climate and other environment-related adverse impacts of the consensus mechanism
General information about adverse impacts
S.1 Name	text	OKX Europe Limited
S.2 Relevant legal entity identifier	text	54930069NLWEIGLHXU42
S.3 Name of the crypto-asset	text	Lighter
S.4 Consensus mechanism	text	Ethereum uses a Proof-of-Stake (PoS) consensus mechanism introduced with The Merge on 2022-09-15, which replaced the previous Proof-of-Work consensus model. The PoS mechanism is implemented through Gasper, combining Casper-FFG for finality with the LMD-GHOST fork-choice rule for chain selection. Validators participate in consensus by staking ETH through the Beacon Chain. Validators are pseudo-randomly selected to propose new blocks, while other validators attest to the validity of proposed blocks. The network operates using 12-second slots grouped into epochs of 32 slots. Under normal network conditions, finality is typically achieved after two epochs, approximately 12.8 minutes, through Casper-FFG. The LMD-GHOST fork-choice rule determines the canonical chain based on the accumulated weight of validator attestations. Validators that engage in certain malicious behaviour, such as equivocation or contradictory attestations, may be subject to slashing penalties, while offline validators may incur inactivity penalties. Subsequent network upgrades, including Dencun (2024-03-13), Pectra (2025-05-07) and Fusaka (2025-12-03), introduced protocol changes affecting Ethereum's consensus mechanism and Layer 2 functionality.
S.5 Incentive mechanisms and applicable fees	text	Ethereum's Proof-of-Stake (PoS) mechanism secures the network through validator incentives and protocol-defined penalties. Validators are required to stake ETH in order to participate in block proposal and attestation activities. A minimum of 32 ETH is required to activate a validator. Following the Pectra upgrade on 2025-05-07, EIP-7251 increased the maximum effective balance per validator from 32 ETH to 2,048 ETH. Validators may receive protocol-defined rewards for proposing blocks, attesting to valid blocks and participating in sync committees. Rewards consist of newly issued ETH and transaction-related fees. Transaction fees on Ethereum follow the mechanism introduced by EIP-1559, under which each transaction includes a base fee that is burned at the protocol level and an optional priority fee paid to the validator proposing the relevant block. Validators that engage in certain malicious behaviour, including equivocation or contradictory attestations, may be subject to slashing penalties. Validators that fail to participate correctly in consensus activities may also incur inactivity penalties. These mechanisms are intended to support validator participation and the economic security of the Ethereum network.
S.6 Beginning of period to which disclosed information relates	date	2025-08-28
S.7 End of period to which disclosed information relates	date	2026-08-28
Mandatory key indicator
S.8 Energy consumption	energy (kWh)	2092.81167
Sources and methodologies
S.9 Energy consumption sources and methodologies	textBlock	The energy consumption of this asset is aggregated across multiple components: To determine the energy consumption of a token, the energy consumption of the network Ethereum is calculated first. For the energy consumption of the token, a fraction of the energy consumption of the network is attributed to the token, which is determined based on the activity of the crypto-asset within the network. When calculating the energy consumption, the Functionally Fungible Group Digital Token Identifier (FFG DTI) is used - if available - to determine all implementations of the asset in scope. The mappings are updated regularly, based on data of the Digital Token Identifier Foundation. The information regarding the hardware used and the number of participants in the network is based on assumptions that are verified with best effort using empirical data. In general, participants are assumed to be largely economically rational. As a precautionary principle, we make assumptions on the conservative side when in doubt, i.e. making higher estimates for the adverse impacts.
Supplementary information on principal adverse impacts on climate and other environment-related adverse impacts of consensus mechanism
Supplementary key indicators
S.10 Renewable energy consumption	percent
S.11 Energy intensity	energy (kWh)
S.12 Scope 1 DLT GHG emissions - controlled	GHG emissions (tCO2e)
S.13 Scope 2 DLT GHG emissions - purchased	GHG emissions (tCO2e)
S.14 GHG intensity	GHG emissions (tCO2e)
Sources and methodologies
S.15 Key energy sources and methodologies	textBlock
S.16 Key GHG sources and methodologies	textBlock
Optional information on principal adverse impacts on the climate and on other environment-related adverse impacts of the consensus mechanism
Optional indicators
S. 17 Energy mix	percent
S.18 Energy use reduction
Energy use reduction target (absolute value)	energy (kWh)
Energy use reduction target (percentage)	percent
S.19 Carbon intensity (kgCO2e/kWh)	decimal
S.20 Scope 3 DLT GHG emissions - value chain	GHG emissions (tCO2e)
S.21 GHG emissions reduction targets or commitments	textBlock
S.22 Generation of waste electrical and electronic equipment (WEEE)	mass (tonnes)
S.23 Non-recycled WEEE ratio	percent
S.24 Generation of hazardous waste	mass (tonnes)
S.25 Generation of waste (all types)	mass (tonnes)
S.26 Non-recycled waste ratio (all types)	percent
S.27 Waste intensity (all types)	mass (tonnes)
S.28 Waste reduction targets or commitments (all types)	textBlock
S.29 Impact of use of equipment on natural resources	textBlock
S.30 Natural resources use reduction targets or commitments	textBlock
S.31 Water use	volume (m3)
S.32 Non recycled water ratio	percent
Sources and methodologies
S.33 Other energy sources and methodologies	textBlock
S.34 Other GHG sources and methodologies	textBlock
S.35 Waste sources and methodologies	textBlock
S.36 Natural resources sources and methodologies	textBlock