To continue our transparency efforts, @EntropyAdvisors, the builders of the Variational Dune Dashboard, will be launching and maintaining an independent statistics page for Variational. This page will track volume, OI, TVL, execution costs, and more. 4/

As one of the most active protocols on @Arbitrum, we're proud to announce an expanded partnership with the Arbitrum Foundation to grow the programmable economy. The partnership includes support for expanded security audits, sponsored gas, and protocol analytics. 1/🧵

We’re hosting our fourth trading competition on Omni, with $20,000 in prizes! The competition starts 6/29 at 0:00 UTC and is solely focused on RWA (real world asset) trading. Winners will be chosen based on our new Trading Competition Score

We’ve raised $50M led by @dragonfly_xyz to go all in on RWAs and bring TradFi liquidity on-chain. Today, we're launching Phase 1 of our RWA rollout to stress-test our infrastructure before bringing 100+ TradFi markets on-chain this summer.

Welcome back to the Variational biweekly update! PRODUCT ➡️ The most recent mainnet release was v0.17.1. ➡️ Added initial Phase 1 RWA markets to testnet for public testing. METRICS ➡️ Total Volume Traded: $219.08B ➡️ Current Dual-Sided OI: $740.07M ➡️ TVL (Excludes Some OLP Hedging Accounts): $104.0M ➡️ Total Tokens Currently Listed: 456 ➡️ Total Rewards Claimed: $6,945,522 ➡️ Total Losses Refunded (Sunset): $4,559,196 ➡️ Total Referral Rewards Claimed: $2,386,326 ➡️ Daily Active Users (avg. over past week): 8,389 ➡️ Weekly Active Users: 14,773 ➡️ 2w Spreads Paid (Gross Revenue): $1,687,700 ➡️ 2w Market Making Costs (Cost of Revenue): ($1,011,619) ➡️ 2w Net Revenue: $676,081 ➡️ 2w Rewards: ($81,710) ➡️ Referral Rewards: ($81,710) ➡️ 2w Net Profit: $594,371 ➡️ Protocol Treasury: $337,540 ➡️ OLP PnL: $256,831 ➡️ Lifetime OLP PnL: $12,980,541 ➡️ Current Protocol Treasury Holdings: 2,070,935 USDC

Weekly Omni Retail Sentiment Index: Today, traders on Omni are long $SPX, $BIO, & $PEPE and short $TRUMP, $SEI, & $LAB. Total non-OLP OI is currently 50% Long / 50% Short.

With over $215B in volume processed, Variational traders have saved over $100M by not paying the ~0.05% fees that are standard on CEXs/DEXs. Meanwhile, the protocol treasury still accumulates USDC by capturing spread that is usually leaked to external market makers.

A sample of upcoming Phase 2 markets, all with zero fees and TradFi liquidity from day 1 of listing: $AAPL $BABA $COIN $INTC $NFLX $META $MSTR $NVDA $RIVN $AMD $VIX Singapore 30 Netherlands 25 China A50 Japan 225 Corn Wheat Soybeans Natural Gas Copper ...and over 80 more.

An extra 20k points have been distributed across all competition #2# participants proportional to their trading volume. You can now see these points in a special “Competition 2” row of your points page. Stay tuned for an RWA-themed competition #3#!

The second Omni trading competition is now over! If you are ranked in the top 5 for either ROI, PnL, or volume, please open a support ticket so we can verify and process your prize.

Weekly Omni Retail Sentiment Index: Today, traders on Omni are long $PUMP, $AAVE, & $XMR and short $TRUMP, $SUI, & $XRP. Total non-OLP OI is currently 45% Long / 55% Short.