read all of these quotes from @variational_lvs talking about swaps very carefully then understand why you should be very excited ----------------------------------------- 'this summer we're introducing kind of an upgrade to a perp' 'we think swaps are are the future of rwa trading in particular' 'i think this is really going to show the market what we're capable of with this very different model' 'swaps aren't a product that can trade on order books' 'our new goal as swaps are launching is to go into the hundreds of different listings for rwas and many other types of products' 'we're introducing swaps to help solve those problems [funding rates] and to help align kind of this type of instrument with the tradfi liquidity so that we can hedge exclusively into that depth of trillions of dollars of tradfi liquidity' 'many have tried before and and not gone so far in the retail option space because perps are so great and i think because our swaps will be even better' 'late this year heading into next year a large percentage of @variational_io's activity will be on swaps' 'that's where it gets exciting because i actually think there's going to be so much discovered demand for that when the thesis of the month relates to something that's kind of offered on variational and and nowhere else' 'i think swaps are a much better way over time for people to trade rwas with the same benefits of leverage and the ability to long and short from a usdc balance' 'we've negotiated and and carefully put in place agreements with, you know, some of these tier one institutions that I was mentioning in tradfi that are very large. i think we publicly announced or i'll be a little bit careful with the specifics, but let's just say well above a billion dollars in total capacity' 'if you want to be a slightly longer-term holder, if you want the better depth of liquidity, or you want the predictability of the funding rate on the swap. . .then i would use a swap and personally i would probably gravitate towards swaps nine times out of 10' 'at variational we're trying something a bit new, a bit different. we're innovating and I want people to view us - yes - as another place to trade btc perps and tesla perps and so on, but very soon to trade in a completely new way with swaps and to trade hundreds of different rwa markets that aren't accessible elsewhere. and the main reason we can do that is because we're trying a completely different model, broker like model liquidity aggregation. You know, there's been some fantastic teams. we're huge fans of hyperliquid and at one point in our prop days were big users of hyperliquid, but I think it's it's interesting to kind of ask the question. alongside hyperliquid and and others in the space, what can be done with this model?' gvar