News
Variational opens Omni to public, sees trading volume double
Variational removed the invite code for its Omni trading app, allowing open public access. Daily volume rose to $2.2 B and 30‑day volume to about $66.4 B, moving the platform to third on the DeFi perps leaderboard. TradFi swaps now make up over 60% of volume, with $80 B cumulative swaps. The broker‑style model uses a single dealer (Omni Liquidity Provider) that quotes trades and keeps 20% of spreads. Spreads are estimated at 2.35 bps, comparable to competitors. Funding rates remained low on swaps despite high rates on Nasdaq‑100 positions.