New announcement from 0xmgb in Discord:

Welcome back to another Variational biweekly update!

Product
• The most recent mainnet release was v0.34.0.
◦ Added in-app announcement page.
◦ Improved margin usage display.
◦ Improved notification display.
◦ Other miscellaneous UI improvements.

Community
• In just over two weeks from launch, swaps have crossed $10B in trading volume.
• Castle Labs released a research report demonstrating how swaps are the cheapest place to trade traditional markets in size.
• Variational reached a new all time high in 24h trading volume.
• The majority of trading volume on Variational is now on traditional markets, not crypto.
• Variational co-founder @ User was interviewed on When Shift Happens, one of crypto’s largest podcasts.
• DeFi Llama Research published a report on swaps.
• Variational co-founder @ User went on the Flirting with Models podcast to explain swaps and share what’s next up for Variational (24/7 swaps, Variational Pro, and more).
• More than 1.6k traders have signed up for the first Variational swaps trading competition. There’s still time left to sign up and compete if you haven’t already!

Metrics
• Key Metrics
◦ Total Volume Traded: $339.75B
◦ Current Dual-Sided OI: $1.83B
◦ TVL (Excludes OLP Hedging Accounts): $236.12M
◦ Total Markets Currently Listed: 552
• Rewards Metrics
◦ Total Rewards Claimed: $8,275,215
◦ Total Losses Refunded (Sunset): $4,559,196
◦ Total Referral Rewards Claimed: $3,716,019
• Revenue Metrics
◦ 2w Spreads Paid (Gross Revenue): $4,570,970
◦ 2w Net Revenue: $2,479,527
◦ 2w Rewards: ($211,814)
◦ Referral Rewards: ($211,814)
◦ 2w Net Profit: $2,267,713
◦ Protocol Treasury: $914,194
◦ OLP PnL: $1,353,519
◦ Lifetime OLP PnL: $19,787,369
◦ Current Protocol Treasury Holdings: 8,274,637 USDC

We appreciate your continued trust and support @ everyone!