Startup Variational has announced a raise of $1.5 million for its Omni platform, which offers traders perpetual contracts with zero trading fees. This event follows the successful launch of the private beta.
Financing and Launch of Omni
Variational, a protocol for derivatives trading, reported raising $1.5 million in a strategic funding round from Mirana Ventures, Caladan, Zoku Ventures, and other investors. This news comes after a prior announcement of a $10.3 million seed round. Omni, a new platform powered by Variational, offers perpetual contracts with zero fees and tight spreads.
Zero Fees and New Opportunities
Omni does not utilize order books but relies on a request-for-quote infrastructure and its own liquidity provider called the Omni Liquidity Provider (OLP). Founder Lucas V. Schuermann emphasized that one of the main goals of this funding round was to attract partners to accelerate the company's growth. Omni has already processed over $100 million in volume since its private beta launch.
Future Plans and Referral Program
Variational has announced the launch of a referral program that allows users to share codes after achieving certain trading volumes. The program is aimed at expanding the platform's community and rewarding active users. The company has plans to implement loss rebates and other innovations in 2025.
With the launch of the referral program and active funding efforts, Variational aims to strengthen its position in the derivatives trading market. The Omni platform offers unique conditions for traders, making it attractive to retail users.
