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Perp tradingPerp DEX · Arbitrum

Variational (Omni)

Author's status: ActiveLateUpdated: 2026-10-16

I'm trading it precisely because the TGE is in sight. Including expected upside, I value a point at about $40, and I'm experimenting to earn points for less than that. I think $VAR can be the next Hyperliquid.

TGE and points

Phase
LateThe TGE is officially set for 2026 Q4, and points run until then. Before TGE the team plans to end the private beta and open to the public, publish a trading API, and share buyback details.
TGE
2026 Q4 (official)Official
Points program
Omni PointsStarted 2025-12-17, distributed every Friday. It was meant to end at the end of Q3, but was extended because of major strategic partnerships: 150K points a week until the TGE in 2026 Q4 (official X, 2026-09-24).
Community allocation
32% of supply airdropped in proportion to points (fully unlocked at TGE; unclaimed tokens are burned). Ecosystem reserve 18%, team and investors 50% (locked 12 months after TGE, then unlocking over at least 3 years) (official X).

Airdrop payout estimate

Includes estimates and placeholders

FDV assumption
$610M
Airdrop share
32%
Expected pool
$195M
Per point
$19.62

Estimated payout—

Basis: The 32% share is official (2026-09-24). The $610M FDV is the reported pre-market price in May 2026, used as a placeholder. Total points are not published; the estimate is the community figure of about 9.5M at the end of September plus 150K a week for 3 weeks. On these assumptions a point is worth about $20. The author values it at about $40 including expected upside (equivalent to an FDV of about $1.24B). (9,950,000 points issued, as of 2026-10-16 (estimate))

Pool = FDV assumption × airdrop share. The value per point divides by the points issued so far, so it falls as more points are issued. The actual payout varies widely with the distribution method, locks and sybil filtering. The points you enter are saved only in this browser.

Team, funding and user base

Base
Cayman Islands (registered entity) (company HQ)
Founders / leads
Lucas Schuermann (CEO), Edward YuThe founders' own location is unverified.
VC funding
$61.8M$10.3M seed in October 2024 co-led by Bain Capital Crypto and Peak XV, a $1.5M strategic round, and a $50M Series A on 2026-05-20 led by Dragonfly.
Key investors
Dragonfly, Bain Capital Crypto, Peak XV Partners, Coinbase Ventures, Hack VC
X followers
67.2K@variational_ioas of 2026-09-20

Risks and caveats

  • Omni is the sole counterparty to every trade (the OLP model), which is a structural counterparty risk.
  • Team and investors hold a large 50%. It is locked for 12 months after TGE, then reaches the market over at least 3 years.
  • 100% of revenue going to the treasury is intended to buy back and burn VAR (official X). Details are due before TGE.

Links

Invite codes

You can enter this referral code when signing up on Variational Omni (omni.variational.io) — no need to use the referral link below. The referrer gets an extra 10% of the points the people they refer earn (official docs).

Start on Variational (Omni) (ref link)

This is a referral link. The author may be rewarded when you sign up or trade. What is written here is not tied to those rewards.

Sources

This page is for information only and is not a solicitation to use any crypto asset or service. Airdrops and their amounts are not guaranteed, and you may lose the funds you deposit.