Variational, the peer-to-peer derivatives trading protocol on Arbitrum, just announced a $1.5 million strategic funding round and a new referral program for its trading platform, Omni.
Funding and Growth
The funding round saw participation from Mirana Ventures, Caladan, Zoku Ventures, and other partners. This follows a successful $10.3 million seed round in September 2024 and the launch of Omni’s private beta. CEO Lucas V. Schuermann explained that this strategic round brings in partners to boost Variational’s growth, particularly those who can help with their Omni Liquidity Provider (OLP) and introduce Omni to more traders.
Since its private beta launch, Omni has processed over $100 million in trading volume and boasts an impressive 87% annualized yield for its OLP vault. The platform stands out with its zero-fee structure and tight spreads, achieved through a request-for-quote system instead of traditional order books.
Referral Program Goes Live
Variational also launched a referral program, allowing users to invite friends to Omni’s private beta. Head of Growth Max Bibeau highlighted the importance of building a strong community, and the referral program is designed to do just that, rewarding early supporters. Users earn a referral code after reaching a certain trading volume, enabling them to invite others. Specific reward details will be revealed later.
Caladan co-founder and CEO John Gu praised Variational’s unique market design, emphasizing its benefits for retail traders who get better prices and a wider selection of assets compared to traditional order book markets.
What’s Next for Variational?
Variational’s plans for the rest of 2025 include implementing loss rebates, launching Omni’s public mainnet, announcing mainnet incentives, and opening the OLP vault for community deposits. You can follow their progress on X (formerly Twitter). To access the Omni private beta, join the Variational Discord.
About Variational
Variational is a protocol for trading perpetuals and other derivatives, automating the entire trading and clearing process. It powers Omni, a zero-fee platform with hundreds of markets. The team boasts extensive experience in market making and software engineering. They are backed by prominent investors including Coinbase Ventures, Bain Capital Crypto, and Dragonfly.
