Variational raised a $50M Series A led by Dragonfly, with Bain Capital Crypto and Coinbase Ventures also in, to scale Omni, its Arbitrum-based perps app. The interesting bit is the model: Omni wants to feel more like Robinhood than Hyperliquid, with zero-fee retail trading routed through crypto venues and TradFi dealers instead of cold-starting its own order books. Phase 1 of its RWA rollout puts gold, silver, copper and oil into one cross-margined account, with 100+ TradFi markets planned this summer as the app moves beyond invite-only access.

TLDR by @Benthic