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Variational, a peer-to-peer onchain derivatives trading protocol, said it raised $50 million in a round led by Dragonfy.
Variational raised $50 million in a round led by Dragonfly with Coinbase Ventures and Bain Capital Crypto.
KEY POINTS
- Variational is launching perpetual futures tied to real-world assets like gold, silver, copper, and WTI crude oil.
- The protocol aggregates liquidity directly from both traditional and onchain markets, avoiding isolated order books.
- Variational reported over $200 billion in trading volume since its 2025 inception, despite being a new entrant.
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