蛙不说谎.Var

For week 43 of the Omni points program, 150,000 points were distributed across 31,632 accounts.

Welcome back to the Variational biweekly update! PRODUCT ➡️ The most recent mainnet release was v0.36.1. METRICS ➡️ Total Volume Traded: $378.54B ➡️ Current Dual-Sided OI: $2.13B ➡️ TVL (Excludes OLP Hedging Accounts): $298.28M ➡️ Total Markets Currently Listed: 560 ➡️ Total Rewards Claimed: $8,564,196 ➡️ Total Losses Refunded (Sunset): $4,559,196 ➡️ Total Referral Rewards Claimed: $4,005,000 ➡️ 2w Spreads Paid (Gross Revenue): $7,372,480 ➡️ 2w Net Revenue: $3,383,789 ➡️ 2w Rewards: ($337,984) ➡️ Referral Rewards: ($337,984) ➡️ 2w Net Profit: $3,045,805 ➡️ Protocol Treasury: $1,474,496 ➡️ OLP PnL: $1,571,309 ➡️ Lifetime OLP PnL: $21,358,678 ➡️ Current Protocol Treasury Holdings: 9,758,014 USDC Thank you for your continued trust and support!

A month ago, swaps didn't exist on-chain. Today, they crossed $30B in total volume and $400M in open interest. Swaps > perps.

As a thank you to all participants in the first Variational swaps trading competition, we've dropped an additional 20,000 points to all competitors proportional to their volume on swaps during the competition period. Check the points page to see your distribution!

For buybacks to be fully effective, $VAR needs to be valued at $1.5B. The Variational Treasury is currently around $9M. Annualized revenue based on the latest report is $52M. If the token is valued at $5B in 2027, that would result in a VAR burn of only 3.8% of the market cap. - Hyperliquid burned ~11.5% in its first year, and ~3% over the last 365 days (with a mature product). - Lighter plans to burn 9%–10% on an annualized basis. If Variational intends to follow the path of the two leading PerpDEXs, it should also aim for a 10% burn rate. This implies that, assuming the same revenue level in 2027, its valuation would need to hover around $1.5B for an extended period. If we factor in a potential revenue drop following the departure of farmers, that figure would be even lower. Therefore, if we want to see real growth for Variational in 2027, it is better for it not to trade at a $5B valuation while spending its revenue to buyback expensive VAR tokens. ----------------------- Additionally, Polymarket assigns the following probabilities to VAR's valuation: $1B – 75% $2B – 25% A simple calculation suggests Polymarket values ​​Variational at $1.5B, which aligns well with the buyback figures. Thanks to @0xdefidaniel for the Variational finance metrics.

Gstock 4stock 在bnb链有时候你会觉得自己就是弱智

做了一个 genius.fun 的金库展示面板，可以查看genius金库收集了多少 BNCB、持仓估值，以及折算后占 BNC 正股总股本的比例。 同时可以查看股东持仓排行，有一种集体冲榜的感觉。 截至目前，genius金库的BNC总持仓为 138,243.91 BNCB，占总股本0.336%，已经成功跻身持股排行的TOP15。 希望伟大的BNC飞轮、伟大的Stock MEME创新、伟大的MEME收购上市公司叙事，都能发生在BSC上。 面板（与Genius/BNBChain官方无关，仅做数据展示，欢迎转发扩散）： geniuspad.fun/

币股meme最好的叙事就是通过meme购买股票，最终获得对应股票公司的董事会席位，获得web2的极大曝光。隔壁robinhood上的币股龙头AI也是凭借这个叙事到了300m市值，而这个叙事下我认为GStock比AI要好得多。 Genius是CZ担任顾问的发射台，GStock是这个发射台的龙头代币，也是目前他们官方在明确推动的代币，CZ昨天连续关注两个推Gstock的帐号。 配对的BNC公司是yzilab控制的公司，还是个BNB DAT公司。除了池子里的BNC股票，这个币的税收又会积累到Genius国库用于收购BNC股票，而这个发射台成立的目的就是用来收购现实世界公司。 感觉这个开卷考试太完美了，虽然不知道GStock结局会怎样，但真的可以说如果这个币跑不出来，币股meme收购现实公司这个叙事以后不用玩了。

第一期上线的是polymarket，155亿FDV🤣