Variational Announcements

New announcement from 0xmgb in Discord:

We are live with <@958831822773567548> on Twitter to discuss all the recent perps news: Robinhood, Coinbase, Phantom Perps, and more! Come listen 👇

https://x.com/variational_io

@here

New announcement from 0xmgb in Discord:

**Post your Omni PnL card on Twitter and win USDC!**

*Prizes:*
* Biggest gain (in %): 250 USDC
* Biggest loss (in $): 250 USDC
* 5 random posts on Twitter with 5+ likes: 100 USDC

*Timeline: *
Now until 5pm UTC on Thursday, July 10

*How To Enter:*
1. Trade on Omni
2. Generate PnL cards from your trades (by clicking "share" icon in the app)
3. Post your PnL cards on X/Twitter and tag @variational_io
4. Post the link to your X/Twitter post in the <#1300492017624940595> channel

The full rules & info about the competition can be found in the Variational blog: <https://mirror.xyz/variational-io.eth/AKdQeLSmz6skJsM6esf6mjLM3jU-klSCHEVsjaOwV6g>

Help us spread the word on Twitter: <https://x.com/variational_io/status/1942252683609641279>

Good luck and happy trading!

@everyone

New announcement from 0xmgb in Discord:

Hi @everyone, here’s our biweekly update!

**Product**
* The most recent mainnet release was [v0.1.33](https://discord.com/channels/1196857788220067943/1338537927365492818/1387978871852367872)
* Drastically tightened spreads across virtually all assets, allowing for multi-million dollar BTC orders at 3-4 bip spreads: <https://x.com/variational_io/status/1938422143009886724>
* Re-enabled listing engine to start picking up new listings again
* Re-enabled HYPE trading with spreads ~half of what they were before: <https://x.com/mr_plumpkin/status/1938422816128274824>

**Community**
* Multiple team members have been in New York for the Permissionless conference to meet up with partners and Omni users. Catch us next at Korea Blockchain Week in Seoul!
* We held a Twitter Space with Variational co-founder <@958831822773567548> to discuss Omni’s trading rewards like loss refunds, spread discounts, and more. Check out the Space recording and AI summary on Twitter: <https://x.com/variational_io/status/1938600536221298733>
* Variational co-founder <@936805508898238494> shared a post using Robinhood and Citadel’s relationship to demonstrate how much value can be captured and returned to users via an integrated market maker like OLP: <https://x.com/mr_plumpkin/status/1935306518997479668>

**Metrics**
* # of new tokens listed in past 2 weeks: 4 (due to listing engine being temporarily disabled)
* Total tokens currently listed: 536
* Total volume traded: $403,771,872
* Total trades placed: 181,042
* Total OLP PnL: $148,844
* OLP APY (based on last 90d): ~87%
* Daily Active Users (avg over past week): 227
* Weekly Active Users: 633

New announcement from 0xmgb in Discord:

We're live on Twitter chatting about Omni's trading rewards like loss refunds and spread discounts! Come hang 😄

https://x.com/variational_io

@here

New announcement from 0xmgb in Discord:

We’ve got another biweekly update for @everyone!

**Product**
* The most recent mainnet releases were [v0.1.18](https://discord.com/channels/1196857788220067943/1338537927365492818/1380352888282288240) and [v0.1.23](https://discord.com/channels/1196857788220067943/1338537927365492818/1382878816732577962)
* Added PnL cards
* Leverage increases across a variety of markets (XRP, BNB, ADA, DOGE, TRX upped to 50x, and TON, PEPE, AAVE, TAO, NEAR, KAS, ONDO, TRUMP, ARB, JUP, ENA, WLD upped to 20x)
* Improvements to candles caching/loading
* Delisted ~250 DEX tokens with no open interest (explained [here](<https://x.com/variational_io/status/1933319841685123347>) on Twitter)

**Community**
* Last week, we announced our strategic round raise of $1.5 million and opened the referral program up to all traders on Omni (hundreds of refcodes have been shared in the <#1362491164921434424> channel!): <https://x.com/variational_io/status/1930300230316240968>
* Variational co-founder <@958831822773567548> wrote a very popular Tweet explaining why we raised another round of funding during the anti-VC meta: <https://x.com/variational_lvs/status/1930301466905870725>
* The Block’s 0xResearch newsletter discussed Variational: <https://blockworks.co/news/variational-omni-privacy>
* We hit all kinds of ATHs after the announcement, with a peak of ~28m 24h volume and ~3m in OI: <https://x.com/variational_lvs/status/1930642784865960323>
* We released a major rework of the Variational Documentation this week. Check out the changes at <https://docs.variational.io>!
* We also pushed some updates to the main website: <https://variational.io> (PS: translations for the main website are coming soon!)
* We hosted a Twitter Space with <@958831822773567548> to discuss the recent raise and the current roadmap. Check out the recording on Twitter: <https://x.com/variational_io/status/1933574281449095364>
* Some members of the team are going to Brooklyn for Permissionless in about a week! If you’ll be there and want to meet up, you can get in touch with us via a <#1332419182473642107> ticket.

**Metrics**
* # of new tokens listed in past 2 weeks: 32
* Total tokens currently listed: 571
* Total volume traded: $295,315,364
* Total trades placed: 120,957
* Total OLP PnL: $125,456 *(OLP PnL declined slightly over the past two weeks. We continued to see very solid performance on all days and pairs, with the notable exception of a one-day decline due to data issues with a specific asset. We've taken steps to avoid these types of problems in the near term by delisting assets with a high risk of data issues, and will be adding them back as we refine our infrastructure.)*
* Current OLP APY: 60.4%
* Daily Active Users (avg over past week): 277
* Weekly Active Users: 679

New announcement from 0xmgb in Discord:

We are going live **now** on Twitter with Variational co-founder <@958831822773567548> to discuss the recent raise, how platform metrics are looking, and what's on the roadmap for the next few months. Come listen!

<https://x.com/i/spaces/1dRKZYgPLlMxB>

@here

New announcement from 0xmgb in Discord:

**We’re proud to announce that we’ve closed a $1.5M strategic round including Mirana Ventures, Caladan, Zoku Ventures, and a small number of other key partners.**

**To welcome Omni’s next phase of growth, we’ve now opened the referral program to all users.**

As previously shared by Variational co-founder <@958831822773567548>, the bulk of Variational’s development has been funded by the team’s past market making profits. Thus, the main purpose of this round was not to raise additional capital–it was to align partners who could help drive Variational’s long-term vision.

<https://x.com/variational_lvs/status/1925607454957871570>

Since we weren’t after capital, we were able to intentionally keep this raise small to minimize averse dilution. Every participant in the raise was carefully vetted, and has a clear way in which they will support the Variational Protocol’s development or growth.

Mirana, for example, can help support OLP TVL (if needed) and allow the platform to support more OI. Caladan can be an early market maker (and design partner) quoting on Pro, and potentially help Omni with more listings in the near-term by collaborating on building quoting models for more exotic markets.

As we celebrate our new partners, we’ve also decided to open up the referral program on Omni to all users. For the past few weeks, the referral program has been in testing with a small number of users. Now, it can be accessed by all traders on Omni.

Since Omni is still in private beta, the only way for new users to gain access is to use a referral code from an existing user. Today’s expansion of the referral program will begin making these codes much more available and easy to come by.

* *Read more info on the strategic round raise:* <https://x.com/variational_io/status/1930300230316240968>
* *Read Variational co-founder <@958831822773567548>'s explanation of why we raised more from VCs during an anti-VC meta:* <https://x.com/variational_lvs/status/1930301466905870725>
* *Check out our announcement about referrals:* <https://mirror.xyz/variational-io.eth/QIzi5qUrw9_Adaf5uGNIJMVKm-Bwry8TrdfiW6cVGtc>

@everyone

New announcement from 0xmgb in Discord:

Welcome back to another Variational biweekly update!

**Product**
* The most recent mainnet release was [v0.1.17](<https://discord.com/channels/1196857788220067943/1338537927365492818/1375289706908221448>)
* Added leaderboard page
* Added favorites bar above chart
* Preparations for configurable leverage
* Improvements to OLP margin refills

**Community**
* We shared a “State of the Community Survey” to get your feedback – it’s still not too late to fill it out: <https://forms.gle/uRVR5bNF4mX7s6QH7>
* To celebrate the new leaderboard in Omni, we gave out 3 referral code uses to each of the top 50 traders by PnL and volume. That’s 300 new codes out in the wild!
* We shared a Twitter post detailing how the Variational Oracle sources data on all of Omni’s listings: <https://x.com/variational_io/status/1926337409173586000>
* This week was full of ATHs: Bitcoin price, OLP PnL, Omni OI, and Omni volume! <https://x.com/variational_io/status/1925236280666869836>
* Variational co-founder <@936805508898238494> posted his thesis on Omni as “the fairest casino”: give it a read today! <https://x.com/mr_plumpkin/status/1924450697124434378>
* We hosted a Twitter Space with <@936805508898238494>, the brain behind OLP. Check out the recording [here](<https://x.com/i/spaces/1vOGwXOdbybJB>) or a summary of the transcript [here](<https://cryptotwitter.space/reports/47123d80-17ad-4a8c-8a2e-9f7245c5fa58>)

**Metrics**
* # of new tokens listed in past 2 weeks: 40
* Total tokens currently listed: 852
* Total volume traded: $163,817,395
* Total trades placed: 85,055
* Total OLP PnL: $144,417
* Current OLP APY: ~87%
* Daily Active Users (avg over past week): 170
* Weekly Active Users: 457

@everyone

New announcement from 0xmgb in Discord:

We're now live on Twitter with <@936805508898238494>, the brains behind OLP.

Come hear him discuss OLP's performance and the future of Variational!

<https://x.com/variational_io/status/1928224902059794861>

@here

New announcement from 0xmgb in Discord:

The top 50 traders by PnL and by volume have each been sent 3 refcode uses! If you're still looking for a refcode to onboard, keep an eye on <#1362491164921434424>.

@here

New announcement from 0xmgb in Discord:

There’s a leaderboard on Omni now (along with a bunch of other cool stuff, check the <#1338537927365492818>)! Users can check their ranking by PnL and volume to see where they stack up against other traders. You can set a name for yourself on the leaderboard, or stay anonymous.

To celebrate the release of Omni’s leaderboard, we’re going to give 3 referral code uses to each of the top 50 traders by PnL and the top 50 traders by volume. On Monday (5/26) at 4pm UTC, we will take a snapshot of the leaderboard and distribute codes to the top traders by PnL and volume.

We hope you enjoy the leaderboard. Be ready for more refcodes on Monday!

@everyone

New announcement from 0xmgb in Discord:

Hi Variants,

Feedback has always been one of our primary guiding forces in the development of Omni. We're reaching out with our first "State of the Community" survey to learn more about what you, the traders, are liking/disliking about Omni and to see how we can make our community even better.

All questions in the form are optional, and you can submit it anonymously. All responses are appreciated! <:pepe_love:1372629245431517255>

Submit the form here: https://forms.gle/2udkx6BureJ2KeF97

@everyone <:Variational_Blue:1220059878668636200>

New announcement from 0xmgb in Discord:

You know what time it is 🫵

Time for another Variational biweekly update!

**Product**
* The most recent mainnet release was [v0.1.15](<https://discord.com/channels/1196857788220067943/1338537927365492818/1372779750442926161>)
* Added estimated liquidation prices to positions table
* Added streaming to positions table and portfolio tab for real-time updates
* Lowered liquidation penalty from 1% to 0.5%
* General improvements to quoting/spreads stability and tightness
* Added Korean language localization and made small improvements to other localizations
* Released a complete rework of the Variational docs (with diagrams!). Check it out at <https://docs.variational.io>.

**Community**
* Variational cofounder Ed posted about how the latest release made Omni’s spreads on majors highly competitive with leading exchanges: <https://x.com/mr_plumpkin/status/1923271685198791013>
* We created a Twitter community for Variational traders! Join to post your trades, ask questions about the platform, or get connected to other traders: <https://x.com/i/communities/1920936338762637482>
* We saw another ATH day in volume and OLP PnL on May 12th: <https://x.com/variational_lvs/status/1922001608348459316>
* Omni officially surpassed $100m in trading volume, also on May 12th. Since OLP is not included in volume calculations, this number is all taker volume. <https://x.com/variational_io/status/1921958579852186099>
* Omni passed $1m in open interest for the first time on May 14th! <https://x.com/variational_io/status/1922690391461200081>
* On May 7th, we implemented some changes to the automated listing engine that brought the number of listings on Omni up from 653 to 860: <https://x.com/variational_io/status/1920166218335728042>
* Yesterday we hosted a Twitter Space with both Variational cofounders (<https://x.com/mr_plumpkin> & <https://x.com/variational_lvs>) to discuss how OLP is democratizing the market making strategies they’ve been building their whole careers. Read the summary here: <https://cryptotwitter.space/reports/168d5b0e-ae65-4a19-93a1-aca7849785fe>

**Metrics**
* # of new tokens listed in past 2 weeks: 42
* Total tokens currently listed: 860
* Total volume traded: $115,849,398
* Total trades placed: 70,666
* Total OLP PnL: $88,000

@everyone

New announcement from 0xmgb in Discord:

Testing out a new transcription/summarizing tool for this space! If you weren't able to make it (or just want to read the highlights), check out the space summary (free, no login): <https://cryptotwitter.space/reports/168d5b0e-ae65-4a19-93a1-aca7849785fe>

New announcement from 0xmgb in Discord:

We're going live on Twitter right now with Variational cofounders <@958831822773567548> and <@936805508898238494>!

Come listen to how their years of market making experience is being used to build Omni and OLP:

https://x.com/variational_io/status/1923166545317974193

@here

New announcement from 0xmgb in Discord:

2 days ago Omni passed $100m in total volume -- today, we passed $1m in open interest!

The milestones just keep coming <:Variational_Blue:1220059878668636200>

https://x.com/variational_io/status/1922690391461200081

@here

New announcement from variational_lvs in Discord:

We hit $100M in volume on Omni today. Congrats to our community and early users! We appreciate your feedback and support! 🙏🏻 @here

New announcement from 0xmgb in Discord:

More refs are now in the wild!

**We just added the top 50 Omni traders by volume to the referral program to expand our testing.** If you've been trading a lot on Omni, check the "referrals" tab of Omni to check if you've been granted access. Once you get your refcode, start inviting friends (or community members in <#1362491164921434424>) to trade!

@here

New announcement from 0xmgb in Discord:

We just made a small update to the listing engine which resulted in **over 250 new markets being listed on Omni**. Trade them all with zero fees today!

PS: we dropped some codes on Twitter. If you're looking for private beta access, hurry to the comments! https://x.com/variational_io/status/1920166218335728042

Also sharing a few codes for our Discord announcement readers here. Each code is single-use and can be used on <https://omni.variational.io>:
INVITEFQVA99
INVITECGO8IU
INVITECZMWHY
INVITE1PB13F
INVITED8N7RD
INVITEKZBG73
INVITEFEWJ7W
INVITEA8JU5Y
INVITEGTX90X

(More codes coming, and will be posted in <#1362491164921434424> soon in case all the ones here are used already!)

@here

New announcement from 0xmgb in Discord:

Welcome back to the Variational biweekly update!

**Product**
* The most recent mainnet release was v0.1.13
* Mostly a behind-the-scenes release, laying the groundwork for leaderboard, improving price streamer uptime, and improving token delisting requirements to avoid excessive delistings.
* This release did some with some small UI improvements, such as adding a “/” hotkey to open the token selector, disabling chart popup hints,
* As mentioned in the Twitter Space, a major rework of the order entry form is in the works. These changes will bring adjustable leverage and more to Omni. Display of an estimated liquidation price is also under construction.

**Community**
* The team attended Token2049 and met up with some users of Variational (thanks for reaching out!) and partners. Catch us next at the Permissionless conference in Brooklyn, New York!
* If you’re interested in hearing how Token2049 went, you can listen to our [“Live from Token2049 Dubai”](<https://twitter.com/i/spaces/1lDxLzNqLPmGm>) Twitter Space! Lucas shared some alpha on some big new listings being explored with partners 👀
* The small trial launch of referrals resulted in a new record for Omni’s highest single-day volume, topping over $5m in 24h volume on April 19th.
* We kicked off a small Ambassador program for dedicated Variational community members. If you’re active in the community and posting content, you’ll likely receive an invite!
* We’re planning to start expanding the referral program again over the next few weeks – keep an eye on the <#1362491164921434424> channel if you’re still on the hunt for beta access to mainnet!
* We addressed an error that occurred with the $ALPACA token and are providing refunds to affected users: <https://x.com/variational_io/status/1917778036302438663>

**Metrics**
* # of new tokens listed in past 2 weeks: 46
* Total tokens currently listed: 650
* Total volume traded: $81,351,288
* Total trades placed: 56,620
* Total OLP PnL: $68,066

@everyone