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When a group of swaggots get together (online or in person) to do an activity. Ex: play internet games such as overwatch, play volleyball, smoke blunts
Generally shouted loudly by squad members so that bystanders will understand how lit their squad is.
(playing game)
Squad mate 1: Hey homebiscuit, I got your six covered!
Squad mate 2: Thanks dawg, SQUAD STAYS LIT!
When the group of acquaintances with which you belong remains "lit" or "turnt", usually meaning engaging in the recreational use of marijuana.
Guy 1: I'm 'bout to smoke this joint.
Guy 2: Ayy, squad stays lit!