New announcement from 0xmgb in Discord:

Welcome back to the Variational biweekly update!

Product
• The most recent mainnet release was v0.32.2.
◦ Launched swaps.

Community
• We launched the first swaps on Variational, with execution costs up to 8x lower than the most liquid TradFi perps.
• After less than two days, swaps crossed 1.25B in volume.
• Shortly after, we raised swaps OI limits and listed more swap markets.
• @ User, @ User, and @ User joined an X space with DeFi Llama Research to discuss the launch of swaps.
• Variational founder @ User went on the Odds on Open podcast to discuss his journey through quant finance.
• A new Variational stats page was released.
• The Variational protocol processed $2B in 24h volume, reaching a new all time high.
• The Variational treasury crossed $7M in USDC holdings.

Metrics
• Key Metrics
◦ Total Volume Traded: $318.68B
◦ Current Dual-Sided OI: $1.67B
◦ TVL (Excludes OLP Hedging Accounts): $208.36M
◦ Total Markets Currently Listed: 551
• Rewards Metrics
◦ Total Rewards Claimed: $8,094,935
◦ Total Losses Refunded (Sunset): $4,559,196
◦ Total Referral Rewards Claimed: $3,535,739
• Revenue Metrics
◦ 2w Spreads Paid (Gross Revenue): $5,080,820
◦ 2w Net Revenue: $2,278,641
◦ 2w Rewards: ($247,501)
◦ Referral Rewards: ($247,501)
◦ 2w Net Profit: $2,031,140
◦ Protocol Treasury: $1,016,164
◦ OLP PnL: $1,014,976
◦ Lifetime OLP PnL: $18,433,850
◦ Current Protocol Treasury Holdings: 7,361,084 USDC

We appreciate your continued trust and support @ everyone!