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Variational, a crypto derivatives trading protocol built on the Arbitrum network, has successfully raised $10.3 million in seed funding. The funding round was led by Bain Capital Crypto and Peak XV Partners, formerly known as Sequoia India, with additional support from CB Ventures, DragonFly Capital, Hack VC, and others. Variational aims to develop a next-generation derivatives trading platform that offers deep liquidity for a wide range of assets. In conjunction with the funding announcement, Variational also launched the Omni Testnet Trading Competition, which features a total of $2,000 in prizes and allocates 50% of its tokens to the community. The $VAR token is expected to launch in late 2024, further enhancing the platform's offerings.
$10.3M funding + airdrops in late 2024. @variational_io is a peer-to-peer trading protocol for perpetuals and generalized derivatives. Backed by Coinbase, DragonFly Capital and other major VCs. According to the documentation, the $VAR token should launch in late 2024 and 50%… https://t.co/qq1ABGUUBf
⚡ Get Conformed Airdrop by Variational Yesterday, @variational_io announced a $10.3M investment and the launch of the Omni Testnet Trading Competition with 2,000 $USDC in prizes 💵 Zero-cost 🔥 50% of the tokens allocated to the community How to interact 👇 🔹 About… https://t.co/YexJKr23Y9
Congrats to the @variational_io team on the raise! They offer a perps platform to trade a large number of assets while ensuring there’s deep liquidity. https://t.co/NBoRbddn1I
