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Variational, an Arbitrum-based crypto derivatives trading protocol, has announced the closing of a $10.3 million seed round with participation from Bain Capital Crypto, Coinbase Ventures, and others. According to the presentation, Variational was founded in 2021 and initially operated profitably for two years as a proprietary market maker in stealth mode before moving to build its own DeFi protocol.The Variational mainnet will go live by the end of this year on an invite-only basis, with the public mainnet expected to launch in the first quarter of 2025, and the tokens will be released after the public mainnet goes live.
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