On November 11, 2026, ChainCatcher reported that Variational, a derivatives protocol on Arbitrum, had ended the private beta for its Omni trading platform and opened its public mainnet. Registration no longer required an invitation code. The private beta began in January 2025 with a small group of whitelisted addresses drawn from the testnet and a Discord waitlist.
Variational said the protocol had surpassed $1.5 billion in open interest and $450 billion in cumulative trading volume over roughly 20 months. During the private beta, it made zero trading fees a long-term policy, introduced referral and points programs, revised the interface twice, launched its first traditional-finance markets and, more recently, brought traditional-finance liquidity on-chain through swaps. According to the report, all users could trade more than 550 listed traditional and crypto assets on Omni.
Those figures are company claims, not independently verified measures in the report. The reported trading volume and open interest describe activity, but the source provides no evidence on how much of it came from users attracted by the fee, referral or points programs.
Original report: ChainCatcher, November 11, 2026, 23:30 UTC+8.