Variational is comedically underfarmed Yet most just don't realize it yet as they are distracted with the current shiny object of the week (Aster, Apex, etc) This is why: TLDR - basically feels like Lighter in the "golden pocket era" of points being "cheap/easy" to get while also those points being "valuable" (going from ~$3/ points OTC to now being $55+ / point) Deeper details: Raised $11.8M backed by Coinbase and Dragonfly + additional $1.5M strategic raise this past June Omnimainnet is still in private/closed beta = less wallet competition, currently only ~350 DAU and ~900 MAU (monthly active users) OLP (HLP-esq) product has made $1M currently (and likely will become available to users in the future, hint: push volume) Zero fees (they can do this cause the OLP is making money) New loss refund feature: up to a 5% chance to get loss immediately refunded (this % chance is actually being boosted 3x higher until Oct 20th), has paid out over $80k since this feature went live 3 weeks ago KPIs progressively going up - now over $2.6B total volume, $40M OI, 520 tokens pairs, etc _____________ Founders @variational_lvs and @mr_plumpkin once employed by a top-tier crypto trading desk, then launched their own market making company named Variational, secured $10M in equity Acted as an early liquidity provider/design partner to virtually every CEX/DEX on the market from 2021 to 2023. Saw huge gaps in the DeFi derivatives market, decided to build the Variational Protocol Self (self funded from work done in 2021-2023) For context Hyperliquid team had a similar background - Chads at HFT in tradfi, led to bootstrapping HL protocol / platform I've been following them since the first week of pre-mainnet beta phase (been slacking on my farming/volume though tbh) and there have been a lot of solid improvements added since then, and they are consistently improving with more upcoming (go to their docs and click "roadmap" tab on the left to see everything) Currently there are no points on the UI to see (I believe they are currently hidden/internal from the user UI, this = more bullish though imo) If you're interested in trying out @variational_io you can use this access code here: OMNIKCJC0O9D

Funny thing is that this post will get much less engagement than if I just listed 10 different perp DEXs as a "tier list" cause CT hates reading will prolly end up doing that anyway though