Variational
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Protocol TVL
About Variational
Variational is a protocol that provides infrastructure for peer-to-peer trading, clearing, and settlement of perpetuals and generalized derivatives. The Variational Protocol enables safe and efficient bilateral trading of options, futures, perpetuals, exotics, and more. Multiple apps have been built on the Variational Protocol, including Omni for perpetuals trading and Pro for institutions to trade customizable OTC derivatives.
Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.
Protocol Profile
Variational is a Derivatives protocol where traders open leveraged, perpetual, or option positions priced off oracle feeds and settled in collateral held by the contract.
Official Resources & Links
Verified external resources for Variational — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.
Other Derivatives protocols on Mantapex
Variational is one of 7 Derivatives protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Jupiter Perpetual Exchange, Hyperliquid HLP, Drift Trade, and 3 more. These peer protocols collectively secure $2.3B in deposits, giving you a frame of reference for whether Variational's own TVL is at the top, middle, or tail of the category.
Recent Variational news
Latest reporting from major crypto news outlets covering Variational.
- The Block
Arbitrum-based derivatives venue Variational raises $50 million Series A led by Dragonfly
Variational is positioning itself as a retail-friendly brokerage via its in-development Omni app, which will offer "zero-fee" trading.
- The Block
Arbitrum-based crypto derivatives trading protocol Variational raises $10.3 million in seed funding
Variational, a crypto derivatives trading protocol built on Arbitrum, has raised $10.3 million in a seed funding round.
- Blockonomi
Dragonfly Leads $50M Round for Arbitrum Platform Variational
Arbitrum-based Variational raises $50M in a Series A led by Dragonfly to expand onchain derivatives and real-world asset trading.
- Crypto Economy
Perp DEX Boom: Hyperliquid Extends Dominance With Surging Volume and OI
TL;DR Hyperliquid led the seven-day perp DEX leaderboard with about $40.7B volume, beating Aster's $31.7B and Lighter's $25.3B over the past week, widening its gap at the top.…
- Crypto Briefing
CryptoQuant sees Bitcoin open interest variation hit 2025 low, nearing extreme fear region
Bitcoin open interest hits 2025 low, signaling extreme fear and potential market reversal as market sentiment nears bottom levels. CryptoQuant sees Bitcoin open interest variation…
- Cointribune
Shiba Inu: What The Latest Price Variations Reveal About This Crypto
The recent fluctuations of Shiba Inu raise concerns and hopes among crypto investors. Is this the right time to invest?
- Crypto Reporter
USDT vers CAD: Analyse du marché canadien des stablecoins et des variations de liquidité en Amérique du Nord
En 2025, aux Etas-Unis et au Canada, le marché des stable coins continue de s'épanouir. Ceci malgré toujours plus de réglementations et des critères de conformité bancaire rapide…
- Invezz
Crypto demand pushes up Bolivia's parallel dollar: USDT in the spotlight
Thursday saw dramatic variations in the parallel exchange rate of the US dollar in Bolivia, with the informal currency market starting to feel the effects of growing…
Related protocols
Other DeFi protocols connected to Variational by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.
Other Derivatives protocols
Fork lineage & related versions
Risk Warning
DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.
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