Variational Announcements

New announcement from 0xmgb in Discord:

Welcome back to our biweekly update. We're excited to report a new all-time high in 2 week revenue in this update!

**Product**
* The most recent mainnet release was [v0.8.0](<https://discord.com/channels/1196857788220067943/1338537927365492818/1464119522230403197>).
* Complete rework of rewards page and tiers progression display.
* “Close all” button for positions.
* Performance enhancements to realtime streams.
* Began testing of mechanism to direct protocol revenue to on-chain treasury wallet (currently directs 10% of spreads to protocol treasury wallet, similar to loss refund pool funding mechanism; numbers will change as testing continues; docs coming soon).

**Community**
* Points distributions [5](<https://x.com/variational_io/status/2011954244824551646>) and [6](<https://x.com/variational_io/status/2014491105732288721>) have been completed.
* Over the past month, the number of accounts on Omni [grew from 26k to 92k](<https://x.com/variational_io/status/2011868776795615313>).
* An Omni trader received a [$30,000+ loss refund](<https://x.com/asifeth/status/2011107974660702279>), marking the single largest loss refund on the platform to date.
* A Variational community member added Omni to their [execution price leaderboard](<https://x.com/0xMGB/status/2013666488641560881>).
* By popular demand, [$XMR was listed](<https://x.com/variational_io/status/2011114871862288395>) on Omni.
* Variational co-founder <@936805508898238494> explained RFQ as [“liquidity aggregation, not competition”](<https://x.com/mr_plumpkin/status/2013951375688798702>).
* Hasseeb from Dragonfly Capital discussed [RFQ as ‘curated markets,’](<https://x.com/mr_plumpkin/status/2011827522447548617>) while CLOBs optimize for price discovery.


**Metrics**
* *Key Metrics*
* Total Volume Traded: $136.25B
* Current Dual-Sided OI: $1.09B
* TVL (Excludes Some OLP Hedging Accounts): $133.81M
* Total Tokens Currently Listed: 492
* *Rewards Metrics*
* Total Rewards Claimed: $5,378,024
* Total Losses Refunded: $3,671,444
* Total Referral Rewards Claimed: $1,706,580
* *User Metrics*
* Daily Active Users (avg. over past week): 14,016
* Weekly Active Users: 28,017
* *Revenue Metrics*
* 2w Revenue: $2,729,731
* Average Daily Revenue: $194,981
* Revenue Directed to OLP: $2,034,390
* Revenue Directed to Loss Refund Pool: $457,079
* Revenue Directed to Referral Rewards Pool: $220,806
* Revenue Directed to Protocol Treasury (just deployed for testing yesterday, numbers under construction, docs soon): $17,456
* Total OLP PnL: $10,800,649

We appreciate your continued support and feedback @everyone!

New announcement from 0xmgb in Discord:

For week 6 of the Omni points program, 150,000 points were distributed across 31,238 accounts.

@here

New announcement from 0xmgb in Discord:

We've adjusted loss refund odds to reduce the efficacy of riskless loss refund farming we've identified from higher tier users. Lower tier odds remain unchanged.

* Wood: 0% (unchanged)
* Bronze: 0.5% (unchanged)
* Silver: 1% (unchanged)
* Gold: 2% -> 1.5%
* Platinum: 3% -> 2%
* Diamond: 4% -> 2.5%
* Grandmaster: 5% -> 3%
(<https://docs.variational.io/omni/rewards/loss-refunds>)

More tier changes (primarily to requirements of reaching/retaining tiers) are in development and coming soon.

@here

New announcement from 0xmgb in Discord:

We received [reports on 1/9/26](<https://discord.com/channels/1196857788220067943/1338537612998086706/1459342812733772031>) of users seeing unusual fills on ETH & XRP markets. After investigating, we have processed refunds to 359 users that we determined were impacted by an issue at that time.

Refunds were calculated by assuming the best possible fills on these markets during the affected time window, and have been processed in Arbitrum USDC directly to users' wallets.

Thank you for your continued trust and support @here!

New announcement from 0xmgb in Discord:

Welcome to the first biweekly update of 2026!

**Product**
* The most recent mainnet release was [v0.7.1](<https://discord.com/channels/1196857788220067943/1338537927365492818/1458989951344574628>).
* Increased net OI limits on some markets
* Inline editing of trigger price for Limit/TP/SL orders
* Scaling/stability work to improve system performance

**Community**
* [Points distributions](<https://x.com/variational_io/status/2006884739731644776>) have continued on a weekly basis.
* Omni crossed [$100B in lifetime trading volume](<https://x.com/variational_io/status/2007599111336538149>).
* We released the [Omni 2025 Retrospective](<https://x.com/variational_io/status/2008111309280444592>).
* The first version of the [Read API was released](<https://x.com/variational_io/status/2008452419542213062>).
* Omni crossed [$1B in open interest](<https://x.com/variational_io/status/2008882743917375628>).
* [Over $3M in loss refunds have been processed](<https://x.com/variational_io/status/2009260835013886140>) to 11.5k+ accounts.

**Metrics**
* *Key Metrics*
* Total Volume Traded: $113.95B
* Current Dual-Sided OI: $1.03B
* TVL (Excludes Some OLP Hedging Accounts): $119.62M
* Total Tokens Currently Listed: 487
* *Rewards Metrics*
* Total Rewards Claimed: $4,526,173
* Total Losses Refunded: $3,050,594
* Total Referral Rewards Claimed: $1,475,579
* *User Metrics*
* Daily Active Users (avg. over past week): 10,906
* Weekly Active Users: 22,830
* *Revenue Metrics*
* 2w Revenue: $1,700,724
* Average Daily Revenue: $121,480
* Revenue Directed to OLP: $1,160,534
* Revenue Directed to Loss Refund Pool: $367,214
* Revenue Directed to Referral Rewards Pool: $172,976
* Total OLP PnL: $8,766,259

@everyone

New announcement from 0xmgb in Discord:

Since the launch of loss refunds in September 2025, Omni has refunded over $3M in negative trader PnL by sharing revenue from the platform's market maker, OLP.

After tweaking the mechanism a few times to minimize farming, we've been happy to see both the distribution of refunds become healthier and the loss refund pool remaining well-capitalized.

As a reminder, loss refunds are not a temporary feature; they are a permanent fixture of Omni, funded by revenue from the platform's exclusive market maker. We look forward to the loss refund mechanism continuing to thrive in 2026, and are exploring even more ways of returning OLP revenue to traders.

X: <https://x.com/variational_io/status/2009260835013886140>

@here

New announcement from 0xmgb in Discord:

As some traders may have seen, Omni’s rapid scaling over the past few weeks has caused some markets (such as Lighter, among others) to reach the limits of net OI that OLP can support.

Our team has been working hard to raise these limits. Today, for example, we have 3xd the net OI cap on Lighter from $2.5M to $7.5M (and are continuing to work to increase this cap further).

Thank you for your continued support @here!

New announcement from 0xmgb in Discord:

The Omni read API is now live.

The read API can be used to access platform-level statistics and per-listing metrics like funding rates, long/short OI, quoting depth, and more.

Read the new API docs for details: <https://docs.variational.io/technical-documentation/api>

@everyone

X: <https://x.com/variational_io/status/2008452419542213062>

New announcement from 0xmgb in Discord:

The Week 3.5 points distribution has been completed, and is now displayed in the Points page of the app for affected users. This distribution resulted in 17,849.88 additional points going to users who did not receive correct point totals in the retroactive, Week 1, or Week 3 distributions (primarily users not receiving proper referral points).

There are no longer any open issues with point totals, and all previous issues have been resolved for future weeks.

Thank you for your patience & understanding!

New announcement from 0xmgb in Discord:

We've identified an issue with the Week 3 points distribution where users with no trading activity during the Week 3 period were marked as ineligible for points, which caused, for example, some accounts to not receive points for their referral activity.

Our team is actively working on a "Week 3.5" points drop to reconcile these issues for affected users. These points will be additive to Week 3's existing 150k distribution. We expect the additional amount of points distributed to be no more than 20k.

We will share an announcement here when the additional points have been distributed.

New announcement from 0xmgb in Discord:

**Points are live on Omni.**

Today, we launched the [points page of the app](<https://omni.variational.io/points>) and retroactively awarded points to users of Omni.

3,000,000 points have been retroactively distributed to existing traders based on a variety of activity metrics. Users also received 1 additional point for every 10 points earned by their referrals. Users with organic usage patterns were prioritized in points allocation.

Going forward, we will be distributing points every Friday at 0:00 UTC for the previous week’s platform activity up until 0:00 UTC on Thursday. Points distributions will conclude before the end of Q3 2026.

Users will receive 1 point for every 10 points their referrals earn. Accounts that traded before the launch of the points program will receive a 10% boost to points earned. Users can earn boosted points by maintaining a reward tier on Omni through continued activity.

See the new points page of the docs for complete details: <https://docs.variational.io/omni/rewards/points>

Happy trading @everyone!

New announcement from 0xmgb in Discord:

Variational is built for retail traders.

281 accounts have been blocked from trading on Omni for violations of the Terms of Use (automated trading, spam, exploits, etc.). These accounts can still close any open positions and withdraw/deposit funds, but have been blocked from opening new positions.

Omni does not yet have an official API. When certain “scripts” or “bots” use undocumented behaviors to spam the platform it can adversely affect real users.

To be explicitly clear, Omni *does not* block accounts for winning trades or frequent/consistent activity.
Omni *does* block accounts for violations of the Terms of Use, including spam or attempts to avoid rate limits to abuse OLP.

If your account has been blocked from trading and you believe it to be in error, please open a <#1332419182473642107> ticket and our team will investigate.

@here

New announcement from 0xmgb in Discord:

Welcome back to the second to last biweekly update of 2025!

**Product**
* The most recent mainnet release was [0.6.0](<https://discord.com/channels/1196857788220067943/1338537927365492818/1446321534770872435>).
* Tweaks to loss refund mechanism to counter farming.
* Draggable TP/SL/Limit/Trigger orders on the chart.
* Improvements to order clearing times.
* More frequent checking of trigger conditions for TP/SL/Limit/Trigger orders.

**Community**
* Over [$1M in referral rewards have been claimed](<https://x.com/variational_io/status/1995946734984556754>) on Omni.
* Variational co-founder <@958831822773567548> joined a Korean AMA. Read the recap [here](<https://x.com/magonia_B/status/1999161583751328114>).
* The [brand-new Arbitrum website features Variational](<https://x.com/variational_lvs/status/1998435154801639575>) in many different places.
* <@920064176506937405> [hosted a second ‘viva la var’ Twitter Space](<https://x.com/ElNachoCrypto/status/1997751793808523281>) with <@252594670280900608> and Peanut, a community trader.
* [Variational is the 4th largest gas spender on Arbitrum](<https://x.com/variational_io/status/1999514504825344162>), spending ~4% of all gas on Arbitrum over the past 30d.

**Metrics**
* *Key Metrics*
* Total Volume Traded: $79,363,450,016
* Current Dual-Sided OI: $351.07M
* Total Trades Placed: 39,050,893
* Total Tokens Currently Listed: 485
* *Rewards Metrics*
* Total Rewards Claimed: $3,706,514
* Total Losses Refunded: $2,550,044
* Total Referral Rewards Claimed: $1,156,470
* *User Metrics*
* Daily Active Users (avg. over past week): 4,403
* Weekly Active Users: 10,280
* *Revenue Metrics*
* 2w Revenue: $717,249
* Revenue Directed to OLP: $349,246
* Revenue Directed to Loss Refund Pool: $221,668 (excluding $100,000 manually deposited)
* Revenue Directed to Referral Rewards Pool: $146,335 (paused for maintenance since 12/5)
* Total OLP PnL: $7,340,181

Our whole team at Variational wishes @everyone a great holiday season as we approach the end of 2025! Don’t worry – we’re still far from done shipping for the year 🙂

New announcement from ecovar in Discord:

Trading notice: we are delisting `OBOL` in line with other major exchanges.

New announcement from ecovar in Discord:

Trading notice: we are delisting `REI` in line with other major exchanges.

New announcement from ecovar in Discord:

Trading notice: we are delisting `ELX` in line with other major exchanges.

New announcement from ecovar in Discord:

Trading notice: we are delisting `MYRO`, `RIF`, `QUICK`, and `MILK` in line with other major exchanges.

New announcement from 0xmgb in Discord:

Welcome back to another biweekly update!

**Product**
* The most recent mainnet releases were [v0.3.4](<https://discord.com/channels/1196857788220067943/1338537927365492818/1439087909700501555>) and [v0.4.2](<https://discord.com/channels/1196857788220067943/1338537927365492818/1443111134113829036>).
* Referral rewards are now live.
* Setting for “privacy mode” that hides $ values.
* Setting to “play sound on order fill.”
* Rate limits have been made more forgiving.
* Each address is now limited to three loss refunds per day.
* Referral code anti-botting mechanism has been adjusted to give users 1 week after signing up to trade.
* Re-enabled referral reward claims.
* UPnL is now shown in both % and $.
* Fixed issue that caused loss refund referral rewards to count towards the 3/day limit.
* Faster quoting and trigger checking for limit, trigger, and TP/SL orders.

**Community**
* Variational co-founder <@936805508898238494> [shared that ref rewards are the third of 5 planned mechanisms](<https://x.com/mr_plumpkin/status/1989533009469657276>) to share revenue back to the community.
* We posted the [first](<https://x.com/variational_io/status/1990492559207248352>) (and [second](<https://x.com/variational_io/status/1993108846278312244>)) “Retail Sentiment Index” constructed from Omni’s OI data.
* [Omni crossed $2M](<https://x.com/variational_io/status/1991633766805389703>) in loss refunds processed.
* On-chain metrics for referral rewards were [added to the Variational Dune Dashboard](<https://x.com/variational_io/status/1993779405492256862>).
* <@920064176506937405> hosted [the first community-run Variational Twitter Space](<https://x.com/ElNachoCrypto/status/1986583804295909877>) and has a [second one planned for December 1](<https://x.com/ElNachoCrypto/status/1993082132369977477>).

**Metrics**
* *Key Metrics*
* Total Volume Traded: $61,054,525,224
* Current Dual-Sided OI: $387.88M
* Total Trades Placed: 23,439,493
* Total Tokens Currently Listed: 489
* *Rewards Metrics*
* Total Losses Refunded: $2,549,095
* Percent of Total Platform Losses Refunded (since implementation of loss refunds): 2.15%
* *User Metrics*
* Daily Active Users (avg. over past week): 5,003
* Weekly Active Users: 12,136
* *Revenue Metrics*
* 2w Revenue: $1,498,692
* Revenue Directed to OLP: $986,035
* Revenue Directed to Loss Refund Pool: $303,886
* Revenue Directed to Referral Rewards Pool: $208,771 (excluding ~$1.1M backfill)
* Total OLP PnL: $6,990,935

Thank you for your continued support @everyone! We’ve got some more exciting updates lined up as we enter the final month of the year.

New announcement from ecovar in Discord:

Trading notice: we are delisting `RSS3`, `GTC`, `GLMR`, `PERP`, and `SUNDOG` in line with other major exchanges.

New announcement from ecovar in Discord:

Trading notice: we are delisting `CELR` in line with other major exchanges