Core Insights - Approximately $250 million was withdrawn from the decentralized perpetual exchange Lighter following the airdrop of $675 million worth of LIT tokens, indicating significant capital movement post-airdrop [1] - The outflows represent about 20% of Lighter's total value locked (TVL) assets, which amount to $1.4 billion, suggesting a notable impact on the platform's liquidity [2] - The trading volume of LIT had been stable between $8 billion to $15 billion in November but recently fell to as low as $2 billion, while the price of LIT decreased by nearly 23% from $3.37 to approximately $2.57 since December 30 [3] Group 1 - The withdrawal of $201.9 million occurred on the Ethereum blockchain, with an additional $52.2 million withdrawn on Arbitrum, highlighting the distribution of outflows across different platforms [1] - CEO of Bubblemaps noted that such outflows are common after airdrops as users often rebalance their positions and seek new farming opportunities, indicating a trend in decentralized finance (DeFi) [2] - Similar outflows were observed after other token launches, suggesting a pattern in user behavior following token generation events (TGEs) [2] Group 2 - CertiK's senior blockchain security researcher pointed out that large withdrawals post-TGEs are typically driven by airdrop farmers and early participants exiting, which is a widespread phenomenon across various token launches [3] - The lack of transparency in new token distributions creates opportunities for insiders to realize significant gains shortly after launch, raising concerns about market dynamics [3]