New announcement from 0xmgb in Discord:

Welcome back to the Variational biweekly update!

Product
• The most recent mainnet release was v0.21.0.
◦ Completely reworked UI (“v3”).
◦ Leaderboard performance improvements.
◦ Preparations for isolated margin.
◦ Various UX fixes.

Community
• We announced our primary focus for Q3: swaps, a new type of instrument designed to bring TradFi liquidity on-chain.
• Points distributions 29 and 30 have been completed.
• The second TradFi trading competition is ending Monday, with $20,000 in prizes.
• Omni crossed 500 listings, with more than 10% being TradFi listings.
• @ User and @ User from Variational’s APAC growth team joined a live AMA.
• On Chain Times published an interview with @ User.
• One of Korea’s largest media outlets interviewed @ User.

Metrics
• Key Metrics
◦ Total Volume Traded: $266.99B
◦ Current Dual-Sided OI: $1.26B
◦ TVL (Excludes OLP Hedging Accounts): $160.50M
◦ Total Markets Currently Listed: 506
• Rewards Metrics
◦ Total Rewards Claimed: $7,507,896
◦ Total Losses Refunded (Sunset): $4,559,196
◦ Total Referral Rewards Claimed: $2,948,700
• User Metrics
◦ Daily Active Users (avg. over past week): 9,820
◦ Weekly Active Users: 16,636
• Revenue Metrics
◦ 2w Spreads Paid (Gross Revenue): $3,069,800
◦ 2w Market Making Costs (Cost of Revenue): ($1,652,505)
◦ 2w Net Revenue: $1,417,295
◦ 2w Rewards: ($148,583)
◦ Referral Rewards: ($148,583)
◦ 2w Net Profit: $1,268,712
◦ Protocol Treasury: $613,960
◦ OLP PnL: $654,752
◦ Lifetime OLP PnL: $15,619,555
◦ Current Protocol Treasury Holdings: 4,662,552 USDC

We appreciate your continued trust and support @ everyone!