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@variational_io weekly recap June 8-14
The second week of summer is wrapping up, we're already past the middle of June - time flies so fast! But at least the World Cup has started.
For Variational, this week was incredibly bullish - we saw a ton of great stuff again, the team is moving at an insane pace.
Let's break down the key events of the week:
🔽The week kicked off with a great hire.
@hansolar21 has joined Variational as Head of APAC Growth. Congratulations and best of luck at this amazing project
🔽On Monday, Variational Summer continued: South Korea ETF
$EWY and Japan ETF
$EWJ perps went live with zero fees and up to 20x leverage
🔽Also, Taiwan Semiconductor Manufacturing Company
$TSM perps went live with zero fees and up to 20x leverage.
$TSM became the 20th RWA listing on Variational over the past 19 days - outstanding pace
🔽The next day, Micron
$MU perps went live with zero fees and up to 20x leverage.
$MU became the 21st RWA listing on Variational over the past 20 days
🔽Also on Tuesday, Qualcomm
$QCOM perps went live with zero fees and up to 20x leverage.
$QCOM is the 22nd RWA listing on Variational over the past 20 days
🔽But that wasn't all for Tuesday. Information about the protocol treasury has been added to the Variational Dune dashboard, made by
@EntropyAdvisors
You can now track 24h inflows, total holdings, and the treasury's rate of growth over time
🔽On Wednesday, June 10th, Rocket Lab
$RKLB perps went live with zero fees and up to 20x leverage.
$RKLB is the 23rd RWA listing on Variational over the past 21 days
🔽Thursday brought 3 more new RWAs! Cerebras Systems
$CBRS, Marvell Technology
$MRVL, and Nebius Group
$NBIS perps are now live with zero fees and up to 20x leverage. These markets bring Variational to 26 new RWA listings over the past 22 days
🔽On Friday, for Week 26 of the Omni points program, 150,000 points were distributed across 27,283 accounts
🔽On the same day, the first Variational RWA trading competition concluded. The winner's stats: ROI: 8,474.40%, PnL: $93.93K, Volume: $82.03M Impressive numbers - congratulations to the winners
🔽Also on Friday, major RWA listings dropped. Nvidia
$NVDA and Advanced Micro Devices
$AMD perps are now live with zero fees and up to 20x leverage. 28 new RWA listings over the past 23 days
🔽And the most explosive news saved for last! Yesterday the team announced that when you hold a long position on Variational for a stock or ETF that pays dividends, you receive dividend payments as funding.
Some underlyings, such as stocks and ETFs, pay dividends to their shareholders. To account for this, holders of the perpetual future will receive a special funding payment. Generally speaking, short holders will pay long holders, represented as a negative funding rate.
The dividend adjustment process spans from the previous business day (ex_date - 1) to the morning of the ex-dividend date. Because the perpetual contract trades 24/7, ex_date - 1 specifically refers to the last traditional market business day prior to the ex-dividend date.
What an incredible week! Variational is truly becoming a real game changer - so much exciting new stuff they keep delivering.
The 450 crypto listings on Variational are the proof-of-concept for how a broker-like model can aggregate and maintain deep liquidity in long-tail markets where CLOBs can't. The next step is applying that same model to thousands of 24/7 RWA markets.
28 RWA markets are already live, with 478 Total Markets on the platform overall. We're expecting 100 RWAs in the coming summer months.
On the metrics side: Total Volume Traded: $244.2B, current Open Interest: $911.86M, Current Protocol Treasury Holdings: 3,400,937 USDC.
Premarket valuation is holding above $700M FDV, with a peak of $800M during the week.
As for volume and point farming competition - right now actually looks like a solid window to get back to active farming and earn some points.
Daily volume is sitting at $465.50M, yesterday it was even lower, and we're seeing a general downtrend.
Since June 6th, volume hasn't risen above $890M
Summer, market decline, and a shift in people's attention are all creating a decent opportunity again. Also worth noting - the RWA trading competition has ended, which I expect will reduce competition somewhat. We'll keep watching.
What a week - bullish enough? This is only the beginning. Keep watching and keep building. Remember - $1B is coded.
Viva la Var