2026-01-13 03:28:29

After the conclusion of Season 1 of EdgeX, our studio has been exploring new directions. To be honest, the delay of EdgeX has somewhat shaken our confidence, but uncertainty itself is part of this game, so choosing the next project becomes even more crucial.

First, the conclusion — we have decided to heavily invest in Variational.

Before we begin, a note: this is an internal review of our research and investment process, purely based on data and logical analysis.

**Why choose Variational? The data speaks for itself.**

In the ongoing battle of Perp DEXs, Variational has indeed been the hottest in the second half. The most direct evidence is that open interest (OI) has already surpassed $1 billion, clearly outpacing competitors besides EdgeX. After Lighter's token launch, market FUD about Perps has decreased significantly, but that also means we don’t have time to worry about the prospects of this track — the problem is quite simple: find projects that can capture market liquidity, and before deflation arrives, get your points in order.

**The killer move in liquidity capture.**

The logic behind choosing Variational is actually simple. Zero fees combined with a loss-rebate mechanism provide an absolute advantage in capturing liquidity. As early as the second half of 2025, before the public announcement of the points system and airdrop, many retail and institutional traders were already using Variational to hedge other Perp positions. This has ensured real trading volume and market share.

**Airdrop expectations and the value of points.**

Secondly, the project team’s commitments are quite clear — 50% of the token supply is directly allocated to the community. The points system is designed to be detailed and reasonable; rather than encouraging participation, it rewards genuine traders. This means the value of the points is quite high.

**The time window is still open.**

Although the difficulty of earning points is gradually increasing, we are still in the early stages. Variational has released a read-only API, but the trading API is not yet enabled, and there is no mobile app — in other words, the volume has not fully ramped up yet. Every week that passes early on gives us an additional first-mover advantage.

LIT2,41%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

14 Likes

Reward
14
8
Repost
Share

Comment

0/400

PoolJumper

· 3h ago

Zero transaction fees are indeed impressive, but to be honest, I care more about how much these points are actually worth. Allocating 50% to the community sounds great, but I'm worried it might end up dispersed among millions of people. Is the enthusiasm not rising yet? Bro, you're speaking too early. Once OI breaks 1 billion, I'll start heavy investing. This pace is hard to gauge.

View OriginalReply0

ImpermanentPhobia

· 01-13 03:58

Zero transaction fees are a trick I've seen too many times. You only realize the trap when deflation actually happens. Giving 50% to the community sounds great, but who can guarantee it won't be diluted into worthless paper like other projects? API isn't open yet? That means the people who get in now are the most likely to get burned. I just want to see what the later entrants will say. Breaking 1 billion in OI is a highlight, but high popularity doesn't necessarily mean profit. That logic has some issues. Talking about early advantages has become quite tiresome to me now.

View OriginalReply0

rugdoc.eth

· 01-13 03:51

Zero transaction fees are indeed a solid advantage, but the question is, how long can this benefit last?

View OriginalReply0

ProxyCollector

· 01-13 03:49

Zero fee is indeed a powerful move. After Lighter issues tokens, this method of suppressing liquidity becomes a necessity... However, the idea of a 50% airdrop to the community is just for discussion; it still depends on how much can actually be implemented in the end.

View OriginalReply0

BuyTheTop

· 01-13 03:48

Hey, EdgeX's delay really broke the defense, but the Variational wave of open interest breaking 1 billion is indeed top-notch.

View OriginalReply0

GasFeeBarbecue

· 01-13 03:41

Zero fees is indeed a great point, but the problem is whether it's a bit late to enter now. EdgeX's delay really hurts, but the fact that Variational's OI has broken 1 billion is no lie. The value of points is truly high, but I'm just worried that inflation might come too quickly later on. Getting in a week earlier definitely has advantages, but are we still in the early stage now? It feels like many people are already competing.

View OriginalReply0

LayerZeroHero

· 01-13 03:32

Zero-hand fee plus refund? Isn't this clearly indicating that the liquidity battle has reached its peak... Early birds still have a window period, but to be honest, who can guarantee how much this round of points will be worth in the end?

View OriginalReply0

NFTRegretter

· 01-13 03:31

The zero-fee approach definitely works, but everyone knows that this round is a race against time. Ultimately, what can be achieved depends on the execution that follows.

View OriginalReply0