if you're farming @variational_io, this is the tool you'll want to have ptsgoblin just got its biggest update yet ptsgoblin.xyz/variational for the first time ever, you'll be able to estimate how much you actually paid in spread to earn your points, alongside your cost per point plus a complete redesign and a lot more analytics 🧵

been testing the delta neutral feature on ptsgoblin this week i hedged variational with lighter farmed 1.3 variational pts on $180k volume at $30/pt not ideal, i know 💀 but after accounting for everything, including the hedge, i actually got paid $27 to farm variational this week good tek

one year ago, i created this account to keep myself accountable and share my journey in crypto after years of lurking on CT, i finally decided to put myself out there, with no idea where it would take me from sharing my wins, losses and lessons to building pointsgoblin, it's been a crazy journey so far and now we're 1.8k friends here ❤️ thank you to everyone who's followed along, shared alpha, had conversations with me or supported what i'm building i genuinely didn't expect this community to become what it is today, and i'm grateful for every single one of you here's to another year of farming smarter together

new to variational, or still figuring out how to farm it efficiently? i put everything I've learned into one guide. bookmark it. You might find it useful

one of the best ways to farm DEX points is funding arb example: 52% APR after all costs, with costs paid back in just 25 minutes long CASHCAT on Lighter Core, short it on Lighter RH this way you'll be collecting funding and farming points on both sides at the same time

we just crossed $11M in variational's treasury recalibrated the projections to account for a 2% discrepancy and added a $6B/day api scenario, since we're already frequently touching $4B/day $22- 26M in treasury by tge is looking very likely

$100B+ in tradfi swaps volume over the last 1.5 months +15 swaps markets on @variational_io swaps. swaps everywhere. swaps never end

goblin went surfing for a bit came back to so much exciting stuff happening in the space happy to be back

you might wanna keep this chart bookmarked first @variational_io biweekly update already matches my treasury projections to the dollar this is gonna come in handy real soon

goblin is responsible for onboarding 1.5% of everyone who joined @variational_io through the on-chain trader program if you’ve traded perps on HL, lighter, aster, or other dexes, check your wallets some wallets are eligible for 3,000 variational points 1. join variational: omni.variational.io/?ref=OMN… 2. open the on-chain rewards tab 3. check all your active perps wallets might be worth a few minutes to check

new on ptsgoblin.xyz: Delta Neutral (BETA) if you're farming points with a hedge, you can now see both sides in one place, including your combined PnL, funding, fees, points, and final cost per point no more spreadsheets trying to figure out if you're actually profitable here's a real example from a Variational + Extended hedge: • $235k volume • only $11 net cost for the entire week • 53.4 Extended points at $0.13/pt • 2.51 Variational points at $1.80/pt

new to variational farming? read this first

$15.24 per @variational point i've been pushing back a lot lately on the $5/point takes from @blockworksres guys so here's something i think is much more reliable and actually stands the test of time the official cost of variational points i gathered every biweekly variational report from Discord since Dec 17 and rebuilt the dataset from scratch once the reports started showing gross revenue + points distributed, you can calculate the actual user-paid cost per point $1.72 $5.67 $9.10 $5.77 $7.93 $8.65 $10.53 $16.94 $15.24 you can use every metric in the book to estimate what a point should be worth but ultimately, the market decides and it's hard to argue that the majority of market participants are consistently willing to overpay by 3x for something right now, a single variational point costs roughly $15-17 in user-paid spreads that's why i'm much more interested in the actual user-paid economics than a theoretical $5 valuation i'll just leave you with this graph

who's ready for API wouldn't be surprised if it launches monday they always seem to tease something just a couple days before launch to keep the momentum going

wake up mom, new moon math by goblin a lot of you are "worried" about variational's treasury not being enough compared to other dexes so i made this to clear your mind first, we need the capture rate swaps made a pretty big difference because swap volume comes with lower spreads: before swaps became dominant: ~$52.8k captured per $1b after swaps became dominant: ~$39.4k per $1b that's roughly a 25% lower capture rate so i'm assuming swaps stay dominant going forward i'm pretty sure volume goes parabolic once the API is live so i'm assuming API goes live by nov 1 and volume steps up to $4b/day even though i think it could be much higher projecting all the way to the last week of december: ~$2.8b/day organic → ~$19.18m treasury $4b/day from nov → ~$21.78m treasury needless to say, you have all the data in front of you join now, code OMNIGOBLIN for 15% points boost omni.variational.io/?ref=OMN…

i shared the moon math last night, but now it’s time for my thoughts what variational just did is definitely a bold move they’re giving up a lot of the momentum they’ve built, but i believe they have enough coming to rebuild it quickly before TGE > major strategic partnerships > omni going public mainnet > trading api going live the api is something i’ve been discussing with my close circle for a while imo the api alone can push us past 6b volume/day, and that's me being conservative we did 4b yesterday without it more volume = more points = valhalla the variational team has consistently exceeded expectations they studied the best airdrops, replicated what worked and improved on it 31% for hyperliquid 32% for var i wouldn’t be surprised if TGE lands during the 18-25 window 1 year anniversary of the points program would be one hell of a way to end it and if the math plays out the way i think it can $100/point would make a great christmas gift

we’ve been running this marathon for a year now some of us have been at it for almost 2 we’ve clicked buttons nonstop, every single day now we’re in the final sprints variational should theoretically have 2 distributions left, one being tomorrow extended should have 3 left, with the last one around oct 12 or at latest oct 19 we’ve put in the work soon it’s time to reap the rewards 100x q4 is gonna be glorious a new class of generational wealth is about to be born

we're getting $JUMP before GTA 6 btw

i'm tired of winning new variational volume ath

did goblin really find a 50 ppm strat with only 2 weeks left in the points program?