Variational has listed 13 new markets in the past two weeks, with more added daily. The broker-like model aggregates existing liquidity from crypto and TradFi sources, so each new listing is liquid on day one.

When the underlying of a TradFi perp or swap pays a dividend, traders who are long that market on Omni can receive it. Over the past week alone, more than 2,000 traders on Omni received dividends for holding long perp or swap positions.

More than 800 of crypto's largest on-chain traders have onboarded through the On-Chain Trader Rewards Program to claim points and USDC. The program ends when the points program concludes. Check if you're on the list before then!

Over the next week, more than 25 of the companies behind perp markets listed on Omni are expected to report earnings. Whether earnings are released before, during, or after market hours, you can trade them 24/7 on Variational.

Swaps allow traders on Omni to execute $1M+ orders on traditional markets with under 1 bip in total execution cost. Placing the same size order on even the most liquid comparable on-chain perp would cost more than 4 times as much.

Earlier today, @variational_lvs and @andyyy went live to discuss Pro, an upcoming second app on the Variational Protocol for options and custom derivatives. If you didn't make it, check out the recording 👇

Variational now lists 9 swap markets not available anywhere else on-chain: ➡️ Cocoa ➡️ Volatility Index ➡️ Dollar Index ➡️ Heating Oil ➡️ FANG+ Index ➡️ US30 Index ➡️ US2000 Index ➡️ Taiwan Index ➡️ China Index Which markets do you want to see brought on-chain next?

Welcome back to the Variational biweekly update! PRODUCT ➡️ The most recent mainnet release was v0.38.1 ➡️ Improvements to portfolio page ➡️ Extended QR-linked mobile session log in timer to 30 days ➡️ Preparations for trading API release ➡️ /v2/stats read API endpoint METRICS ➡️ Total Volume Traded: $417.92B ➡️ Current Dual-Sided OI: $2.04B ➡️ TVL (Excludes OLP Hedging Accounts): $290.88M ➡️ Total Markets Currently Listed: 575 ➡️ Total Rewards Claimed: $8,831,643 ➡️ Total Losses Refunded (Sunset): $4,559,196 ➡️ Total Referral Rewards Claimed: $4,272,447 ➡️ 2w Spreads Paid (Gross Revenue): $6,561,755 ➡️ 2w Net Revenue: $3,682,137 ➡️ 2w Rewards: ($303,768) ➡️ Referral Rewards: ($303,768) ➡️ 2w Net Profit: $3,378,369 ➡️ 2W Protocol Treasury Inflow: $1,312,351 ➡️ 2W OLP PnL: $2,066,018 ➡️ Lifetime OLP PnL: $23,424,969 ➡️ Current Protocol Treasury Holdings: 11,077,933 USDC Thank you for your continued trust and support!

Swaps tapping directly into TradFi liquidity means better execution costs for both large and small orders. Top-of-book execution costs on some swaps are 100x+ cheaper than perps on the same market.

Since the launch of the first swaps in September, we've seen rapid adoption of the new instrument by both existing and new Variational traders. More than half of all active accounts on Variational this month have traded a swap market. Swaps > perps.