Summary
- CoinDesk reported that around $250 million in fund withdrawals occurred at LIT after its own token airdrop.
- The withdrawals amount to about 20% of LIT's total TVL of roughly $1.4 billion, resulting in a short-term TVL decline.
- Market participants interpret this as a short-term fund movement rather than a structural exit.
Decentralized perpetual futures exchange LIT recorded a large outflow of funds following its LIT token airdrop.
On the 31st (local time), crypto-focused media CoinDesk reported that on-chain data platform Bubble Maps estimated roughly $250 million was withdrawn from LIT after the LIT airdrop.
The withdrawn amount corresponds to about 20% of LIT's total locked deposits (TVL) of roughly $1.4 billion. TVL fell sharply in a short period as user funds moved immediately after the airdrop.
Nicolas Vaiman, Bubble Maps CEO, said, "By the numbers it may look quite large," and explained, "This is a phenomenon that naturally occurs as users rebalance positions and move on to the next farming opportunities after an airdrop."
Market participants noted that since the PuffDEX ecosystem has repeatedly seen liquidity rapidly reallocated after token reward events, this withdrawal is more likely a short-term fund movement than a structural departure.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
