Variational Swap Records $2.8 Billion in Trading Volume Within a Week of Launch

Variational's swap product has recorded a cumulative trading volume of $2.8 billion within just one week of its launch. The open interest increased to $245 million on September 8. The Variational swap achieved this trading volume across three active markets, with the US100S having the largest open interest at $83 million, and a 24-hour trading volume of $416 million. This figure is limited to the swap product and does not represent the cumulative trading volume of the entire Variational platform. Variational's Omni uses a request for quote (RFQ) method, where liquidity providers (OLPs) offer prices and become trading counterparts. The swaps have no expiration and are settled in USD Coin (USDC), supporting leverage. Trading hours are not 24/7, and the market may close during nights, weekends, and holidays. Variational does not charge trading fees and operates on the spread profits of OLPs. Currently, Omni is running as an unofficial beta, with plans for a public mainnet and Variational Pro service, but specific launch dates are yet to be determined.