VariationalTreasury
Variational intends to use 100% of treasury-directed revenue for VAR buy-and-burn after TGE. perpdex.io uses positive daily treasury USDC balance changes as an experimental reference, without treating balance changes as confirmed revenue or executed buybacks.
2026-09-17 → UTC · 90D experimental basis: sum of positive daily balance changes
- 7D annualized reference
- 40,582,340.55 USDC/yr
- 30D annualized reference
- — USDC/yr
Variational
“Positive treasury balance change” is an experimental reference based on daily USDC balance movements. Variational intends to use 100% of treasury-directed revenue for VAR buy-and-burn after TGE, but deposits, transfers and other flows also change balances, so this is not audited revenue or an executed buyback.
Swap / Perp volume and positive treasury balance change
Compares daily Swap volume, Perp volume, positive treasury balance change and the balance change normalized per USD 1B of same-day volume, to inspect whether business mix and treasury movements vary together; correlation does not establish causation.
Experimental reference: positive balance change = max(current-day treasury balance − prior-day balance, 0). Balance change per USD 1B = same-day positive balance change ÷ (Perp volume + Swap volume) × USD 1B. Deposits and transfers also change balances, so this is not audited revenue.
Series are archived at the UTC day boundary and collected at 00:10 UTC. The UI shows 90 days while PostgreSQL retains a rolling 92-day window with no offsite archive. Volume is the official trailing-24h value at capture time, not an exact calendar-day total; stablecoins retain native units.