We’re excited to announce a second Omni Testnet Trading Competition with $2,000 in prizes as a follow-up to our successful first trading competition hosted in August. The second competition will run for one week from October 24th to October 31st and, similar to the first competition, rank users on a leaderboard based on PnL.

We’re excited to share that Variational has raised $10.3 million in seed funding through a round led by Bain Capital Crypto, Peak XV Partners, and many more

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.

On August 26th, 2024 at 4pm UTC, the first Omni trading competition officially came to an end after two weeks of testnet trading. This article describes how the trading competition went, and dives into observations about some of the strategies used by the winners.

We’re excited to announce that the first Variational Omni Trading Competition is happening while we’re in testnet! Starting on Monday (08/12/24), a new page of the docs will appear for users of the Omni testnet: the “leaderboard.” The most successful traders, determined by their PnL rank on the leaderboard at the end of the competition, will win prizes in USDC (see terms for more information).

Omni vertically integrates deep liquidity for permissionless perps on the Variational protocol, enabling leveraged trading on any underlying token.

Variational is a new kind of RFQ-based trading platform enabling you to safely trade bilateral derivatives on any token.