I must not fear. Fear is the mind killer
Joined May 2017
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The average $HYPE holder during the largest liquidation event in crypto history:
Heavily @variational_io pro coded
JUST IN: S&P EXECUTES ITS FIRST EVER ONCHAIN DERIVATIVES SWAP.
DRW and Marex have done the first OTC swap on Canton Network, run through Derivnex, an institutional derivatives platform built on Canton. It's a 'total return swap' on S&P's iBoxx USD Liquid Investment Grade Index which references a onchain index.
Here's how it works:
Kaiko tokenized the index on Canton, so the token carries S&P's licensing and usage rules, and Kaiko also feeds in the signed official index values used to price the swap. Derivnex keeps the trade terms in one smart contract that stays with the swap for its whole life. That gives both sides one shared record instead of separate systems they have to reconcile.
The floodgates have opened.
Blockchain will eat global finance.
@KaikoData @CantonNetwork @SPGlobal
canton-network:native
Source: PR Newswire
Never ended up publishing my Variational thesis article but that $5b prediction is becoming more likely every day
What a time to be alive
Viva la Variational
Things just got even more interesting, Variational is mogging the living shit out of HL with funding on OIL.
And this is just the beginning. As I've said previously the further down the long tail we go, the bigger the differences will be
Viva La Variational
A swap for WTI Oil $USOIL is now live with zero fees, up to 5x leverage, and direct TradFi liquidity.
this is gonna be a banger
This week, I'm releasing a 1 and a half hour conversation with @variational_lvs - Founder and CEO at @variational_io.
Lucas co-founded a hedge fund at 20 that Digital Currency Group acquired a year later, then walked away from that exit to build a firm that now sits second only to Hyperliquid in open interest and daily volume.
His argument: crypto rebuilt exchanges before it built brokers, and that architectural gap is what's holding on-chain trading back.
We talk about:
- Why order books work for a handful of liquid assets like BTC and $ETH but break once you try to list hundreds of markets
- How Variational aggregates liquidity straight from traditional finance instead of rebuilding 40 years of market depth from scratch
- Why Variational charges zero fees by keeping the market-maker spread inside the platform
- The architectural difference between Variational's RFQ, broker-like model and Hyperliquid's order book
- How Variational's daily volume went from $1 million to over $100 million within months of launch
- What swaps offer that perps can't - a flat, predictable carry cost instead of a funding rate that can spike overnight
- Why he raised $50 million in May specifically to get taken seriously by trad-fi institutions
- The two kinds of businesses he wants competed into extinction: high-fee brokers and predatory market makers
And much more...
Podcast out this week!
It's not even been 40 minutes and we're about to hit OI caps on the first 2 SWAP markets
as much as I love Hyperliquid I really think SWAPS will eat significant market share from XYZ
So it begins
note that these are compared to the markets where CLOBS (XYZ) are the strongest.
The further down the long tail we move the bigger the gap will be.
Future looks bright for VAR bulls :)
up till the moments SWAPS go live, Variational has been quoting liquidity from crypto markets (direct competitors)
So there was no way to be drastically cheaper then competition
SWAPS (quoted from native US markets) will show why RFQ (/ the broker model) has its place :)
Very kind words from one of the GOATs on CT (that got me on HL very early on) glad I could return the favor.
Been enjoying eurosummer past months, fully back now to run it up with Variational coming months
Been cooking something really cool with Variational, can't wait for it to drop soon.
Anyway here's a jpeg of lake Como
Extremely proud of the @variational_io growth and huge s/o to @Mattixbt for linking me up with the team a long time ago and for keeping me up to date with everything Variational related
I suggest you go and follow him, down to earth and very smart minded
Still not too late to pivot from anything non Variational, i trade on whats the best only and i can tell that something much bigger is brewing in those waters than anywhere else atm
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You can check yourself here
arbiscan.io/address/0x5e91b4…
would u sell your precious $VAR tokens if you knew a TWAP of 20m is coming? (yes treasury will probs be somewhere in that ballpark at TGE)
Keeping a close eye on this chart coming weeks as @variational_io MOAT will go online with phase 2
If you want to check this chart yourself, can find it here
nitter.gq/zinnresearch/status/20…
yes! Pull data from all the official APIs and display it on rwa-markets.xyz/
this is from the Institutional velocity tab where you can isolate by exchange & asset!
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