Variational
@variational_io
Trade 450+ perps markets on-chain with up to 50x leverage and 0 fees.
40 Following 58.9K Followers
We’ve raised $50M led by @dragonfly_xyz to go all in on RWAs and bring TradFi liquidity on-chain.
Today, we're launching Phase 1 of our RWA rollout to stress-test our infrastructure before bringing 100+ TradFi markets on-chain this summer.
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Welcome back to the Variational biweekly update!
PRODUCT
➡️ The most recent mainnet release was v0.17.1.
➡️ Added initial Phase 1 RWA markets to testnet for public testing.
METRICS
➡️ Total Volume Traded: $219.08B
➡️ Current Dual-Sided OI: $740.07M
➡️ TVL (Excludes Some OLP Hedging Accounts): $104.0M
➡️ Total Tokens Currently Listed: 456
➡️ Total Rewards Claimed: $6,945,522
➡️ Total Losses Refunded (Sunset): $4,559,196
➡️ Total Referral Rewards Claimed: $2,386,326
➡️ Daily Active Users (avg. over past week): 8,389
➡️ Weekly Active Users: 14,773
➡️ 2w Spreads Paid (Gross Revenue): $1,687,700
➡️ 2w Market Making Costs (Cost of Revenue): ($1,011,619)
➡️ 2w Net Revenue: $676,081
➡️ 2w Rewards: ($81,710)
➡️ Referral Rewards: ($81,710)
➡️ 2w Net Profit: $594,371
➡️ Protocol Treasury: $337,540
➡️ OLP PnL: $256,831
➡️ Lifetime OLP PnL: $12,980,541
➡️ Current Protocol Treasury Holdings: 2,070,935 USDC
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For week 22 of the Omni points program, 150,000 points were distributed across 21,929 accounts.
The first Variational VIP boxes are starting to touch down around the globe! 📦
⚠️ SPOIL VIP VAR JUST DROPPED 👀
Massive shoutout to @variational_io
for this insane VIP 2026 package 🔥
Premium quality, insane attention to detail, and most importantly, a team that truly listens to its community 🙏
Feels like the beginning of something huge. Proud to be early and part of the journey 🫡🫶
🔹️And today, I just reached 700M trading volume on Variational 🫡
Who else is riding with Variational?
Thanks Var Team 💎
OMNICLLMAX ✨️
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Weekly Omni Retail Sentiment Index:
Today, traders on Omni are long $SPX, $BIO, & $PEPE and short $TRUMP, $SEI, & $LAB.
Total non-OLP OI is currently 50% Long / 50% Short.
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Weekly Omni Retail Sentiment Index:
Today, traders on Omni are long $PUMP, $AAVE, & $XMR and short $TRUMP, $SUI, & $XRP.
Total non-OLP OI is currently 45% Long / 55% Short.
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With over $215B in volume processed, Variational traders have saved over $100M by not paying the ~0.05% fees that are standard on CEXs/DEXs.
Meanwhile, the protocol treasury still accumulates USDC by capturing spread that is usually leaked to external market makers.
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On-chain RWA order books are still decades behind TradFi's liquidity depth.
Variational is built to tap into existing liquidity, not rebuild it from scratch.
A sample of upcoming Phase 2 markets, all with zero fees and TradFi liquidity from day 1 of listing:
$AAPL
$BABA
$COIN
$INTC
$NFLX
$META
$MSTR
$NVDA
$RIVN
$AMD
$VIX
Singapore 30
Netherlands 25
China A50
Japan 225
Corn
Wheat
Soybeans
Natural Gas
Copper
...and over 80 more.
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100+ liquid RWA markets. 90 days.
Phase 1 (WTI, XAU, XAG) kicks off this month. Phase 2 in June.
Variational Summer.
For week 21 of the Omni points program, 150,000 points were distributed across 19,764 accounts.
An extra 20k points have been distributed across all competition #2# participants proportional to their trading volume.
You can now see these points in a special “Competition 2” row of your points page.
Stay tuned for an RWA-themed competition #3#!
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The second Omni trading competition is now over! If you are ranked in the top 5 for either ROI, PnL, or volume, please open a support ticket so we can verify and process your prize.
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The second Omni trading competition is now over! If you are ranked in the top 5 for either ROI, PnL, or volume, please open a support ticket so we can verify and process your prize.
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Just like the 450+ crypto markets already listed on Omni, every RWA listing will have zero fees.
Weekly Omni Retail Sentiment Index:
Today, traders on Omni are long $PUMP, $AAVE, & $XMR and short $TRUMP, $SUI, & $XRP.
Total non-OLP OI is currently 45% Long / 55% Short.
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Points are live.
Today, we launched the Variational Omni points program and retroactively awarded points to existing traders.
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