Variational (#id164015)

Welcome back to the Variational biweekly update!

Product
* The most recent mainnet release was v0.36.1.

Community
* We released some initial information about the $VAR token: 32% of supply in the genesis airdrop, and launching in Q4. Points run until TGE.
* and went on Bankless to discuss Variational’s unique design and the upcoming $VAR token.
* Taiwan Index (TWI), Copper (COPP), and Cocoa (COCOA) swaps were listed.
* Variational crossed $3B in 24h trading volume and $2B in open interest for the first time.
* The first Variational swaps trading competition came to an end.
* RWAPulse dashboard went live, highlighting Variational’s leading execution costs on TradFi markets.
* The next major project in development is the Omni trading API.
* In just one month since launch, swaps have crossed $30B in lifetime trading volume and $400M in open interest.

Metrics
* *Key Metrics*
* Total Volume Traded: $378.54B
* Current Dual-Sided OI: $2.13B
* TVL (Excludes OLP Hedging Accounts): $298.28M
* Total Markets Currently Listed: 560
* *Rewards Metrics*
* Total Rewards Claimed: $8,564,196
* Total Losses Refunded (Sunset): $4,559,196
* Total Referral Rewards Claimed: $4,005,000
* *Revenue Metrics*
* 2w Spreads Paid (Gross Revenue): $7,372,480
* 2w Net Revenue: $3,383,789
* 2w Rewards: ($337,984)
* Referral Rewards: ($337,984)
* 2w Net Profit: $3,045,805
* Protocol Treasury: $1,474,496
* OLP PnL: $1,571,309
* Lifetime OLP PnL: $21,358,678
* Current Protocol Treasury Holdings: 9,758,014 USDC

Thank you for your continued trust and support @everyone!

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