comparing the last two biweekly updates...
total volume: +$21b, +6.6%
duel sided oi: +$160m, +9.6%
tvl: +$27.8m, +13.3%
2wk net revenue: ($2.47m) +$201k, +8.8%
treasury holdings: +$914k, +12.4%
nb: gross spreads went down ($5.1m to $4.6m), but so did hedging costs ($2.8m to $2.1), resulting in greater net profit. swaps (smaller spreads per $ & cheaper hedges) likely played a role here
gvar
Welcome back to another Variational biweekly update!
PRODUCT
➡️ The most recent mainnet release was v0.34.0.
➡️ Added in-app announcement page.
➡️ Improved margin usage display.
➡️ Improved notification display.
➡️ Other miscellaneous UI improvements.
METRICS
➡️ Total Volume Traded: $339.75B
➡️ Current Dual-Sided OI: $1.83B
➡️ TVL (Excludes OLP Hedging Accounts): $236.12M
➡️ Total Markets Currently Listed: 552
➡️ Total Rewards Claimed: $8,275,215
➡️ Total Losses Refunded (Sunset): $4,559,196
➡️ Total Referral Rewards Claimed: $3,716,019
➡️ 2w Spreads Paid (Gross Revenue): $4,570,970
➡️ 2w Net Revenue: $2,479,527
➡️ 2w Rewards: ($211,814)
➡️ Referral Rewards: ($211,814)
➡️ 2w Net Profit: $2,267,713
➡️ Protocol Treasury: $914,194
➡️ OLP PnL: $1,353,519
➡️ Lifetime OLP PnL: $19,787,369
➡️ Current Protocol Treasury Holdings: 8,274,637 USDC
We appreciate your continued trust and support!