VariationalVAR

Supply-side fees measures the share of user-paid transaction spreads that accrues to the external company operating the liquidity vault for Variational Omni. The portion of trading spreads distributed to liquidity vault operators and their investors, rather than being retained by the protocol treasury, is represented by this metric. Because trades are priced and settled off-chain, supply-side fees are reconstructed by grossing up the protocol's observed treasury inflows using effective-dated take rates and subtracting the protocol's retained revenue. Visibility into the economic distribution between the protocol and its supply-side liquidity providers is provided to institutional investors through this metric.Learn more