Variational raises $50M Series A led by Dragonfly Capital to build zero-fee derivatives trading
Variational has successfully raised $50 million in a Series A funding round led by Dragonfly Capital. The decentralized derivatives protocol aims to compete with both decentralized and centralized exchanges by offering a peer-to-peer trading and clearing system. Their retail-focused application, Omni, is designed to provide a zero-fee trading experience for users.
- ▪Variational is building a decentralized derivatives protocol with a peer-to-peer matching and clearing layer.
- ▪The recent funding round positions Variational to challenge competitors like dYdX and Binance.
- ▪The company is developing two applications: Omni for retail users and Pro for advanced traders.
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Variational raises $50M Series A led by Dragonfly Capital to build zero-fee derivatives trading The DeFi derivatives protocol plans to take on centralized exchanges with a peer-to-peer clearing layer and a retail-focused app called Omni. Share Add us on Google by Editorial Team May. 20, 2026 Variational, a decentralized derivatives protocol building a peer-to-peer matching and clearing layer, has raised $50M in a Series A round led by Dragonfly Capital. The funding positions the startup to challenge both decentralized competitors like dYdX and centralized heavyweights like Binance in one of crypto’s most contested markets. The round follows a $10.3M seed raise in October 2024 that was co-led by Bain Capital Crypto and Peak XV Partners.
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