MLM: Lighter withdrew approximately 32.05 million USDC from the protocol to the project vault.

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According to MLM monitoring, Lighter withdrew approximately 32.05 million USDC from the protocol to the project treasury, with about 100,000 USDC still remaining in the fee wallet. Of this, approximately 8.6 million USDC was reinvested back into the protocol since October 16th, and approximately 7.5 million USDC was invested in LLP and returned to LLP holders as rewards. However, the use of these funds was not previously disclosed or documented, and this represents approximately 25% of total revenue. An additional approximately 21.9 million USDC was transferred to a Coinbase address.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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