Lighter protocol recently underwent a large-scale fund adjustment. According to on-chain data tracking, the protocol has withdrawn approximately 32.05 million USDC from the treasury, and the fee wallet still retains about 100,000 USDC in reserves. Notably, the subsequent allocation of these funds shows diversification: approximately 8.6 million USDC has been re-deposited into the protocol since October 16, creating a certain amount of fund circulation; another approximately 7.5 million USDC has been invested in LLP and used to reward liquidity providers, but the specific use of this portion of funds has not been publicly disclosed before, and there is no clear record in the documentation, accounting for about a quarter of the total revenue. The remaining approximately 21.9 million USDC has attracted market attention regarding its destination.