Today, we’re excited to share that Variational has raised $10.3 million in seed funding through a round led by Bain Capital Crypto and Peak XV Partners (FKA Sequoia India and Southeast Asia), with support from Coinbase Ventures, Dragonfly Capital, North Island Ventures, Hack VC, and many more. This round marks a major milestone for Variational, and demonstrates confidence from industry leaders in our vision for a future where perps are more accessible, more liquid, and available across more m...

What is a Perpetual Contract?Perpetual contracts, often simply referred to as "perps," are a type of linear derivative that allow traders to use leverage to speculate on the price of an underlying asset. A derivative is usually a contract between two parties that determines a final payout based on the price of an underlying asset at a set expiry date. Perpetual contracts, as the name suggests, have no expiry dates, and can be held indefinitely. Derivatives are widely used by traders to get ex...

As crypto has grown, so too has the number of tokens traders want to speculate on. In today’s market, traders expect deep liquidity, the ability to utilize leverage to maximize gains, and a wide variety of instruments (perps, futures, options) to match their desired position. While many centralized and decentralized exchanges have grown rapidly using traditional limit order books, none have yet been able to solve the problem of permissionless derivatives, or the ability to source liquidity wi...

During this year’s bull market cycle, we’ve witnessed exponential growth in the number of tokens traders want to speculate on. Volumes on long-tail assets have grown significantly, driven by new protocol launches, speculation on the latest trends in DePIN/AI, getting in early on ZK L2s, having fun with memecoins, and more. While many exchanges have flourished using traditional limit order books (CLOBs), none have yet been able to solve the problem of permissionless derivatives, or the ability...

Today, we’re excited to share that Variational has raised $10.3 million in seed funding through a round led by Bain Capital Crypto and Peak XV Partners (FKA Sequoia India and Southeast Asia), with support from Coinbase Ventures, Dragonfly Capital, North Island Ventures, Hack VC, and many more. This round marks a major milestone for Variational, and demonstrates confidence from industry leaders in our vision for a future where perps are more accessible, more liquid, and available across more m...

What is a Perpetual Contract?Perpetual contracts, often simply referred to as "perps," are a type of linear derivative that allow traders to use leverage to speculate on the price of an underlying asset. A derivative is usually a contract between two parties that determines a final payout based on the price of an underlying asset at a set expiry date. Perpetual contracts, as the name suggests, have no expiry dates, and can be held indefinitely. Derivatives are widely used by traders to get ex...

During this year’s bull market cycle, we’ve witnessed exponential growth in the number of tokens traders want to speculate on. Volumes on long-tail assets have grown significantly, driven by new protocol launches, speculation on the latest trends in DePIN/AI, getting in early on ZK L2s, having fun with memecoins, and more. While many exchanges have flourished using traditional limit order books (CLOBs), none have yet been able to solve the problem of permissionless derivatives, or the ability...

As crypto has grown, so too has the number of tokens traders want to speculate on. In today’s market, traders expect deep liquidity, the ability to utilize leverage to maximize gains, and a wide variety of instruments (perps, futures, options) to match their desired position. While many centralized and decentralized exchanges have grown rapidly using traditional limit order books, none have yet been able to solve the problem of permissionless derivatives, or the ability to source liquidity wi...