Welcome back to the Variational biweekly update!
PRODUCT
➡️ The most recent mainnet release was v0.17.4.
➡️ Enabled Phase 1 listings of equities and commodities.
➡️ Added mobile QR sign-in.
METRICS
➡️ Total Volume Traded: $244.2B
➡️ Current Dual-Sided OI: $858.6M
➡️ TVL (Excludes OLP Hedging Accounts): $137.8M
➡️ Total Markets Currently Listed: 478
➡️ Total Rewards Claimed: $7,238,105
➡️ Total Losses Refunded (Sunset): $4,559,196
➡️ Total Referral Rewards Claimed: $2,678,909
➡️ Daily Active Users (avg. over past week): 10,858
➡️ Weekly Active Users: 19,456
➡️ 2w Spreads Paid (Gross Revenue): $4,332,160
➡️ 2w Market Making Costs (Cost of Revenue): ($2,156,274)
➡️ 2w Net Revenue: $2,175,886
➡️ 2w Rewards: ($209,668)
➡️ Referral Rewards: ($209,668)
➡️ 2w Net Profit: $1,966,218
➡️ Protocol Treasury: $866,432
➡️ OLP PnL: $1,099,786
➡️ Lifetime OLP PnL: $14,494,830
➡️ Current Protocol Treasury Holdings: 3,400,937 USDC
Thank you for your continued trust and support!