Variational: $1.5B OI Record

Variational's perp DEX has set a new record at $1.5B OI.

The post compares it with Aster at $1.9B OI and $4.8B FDV, and Lighter at $900M OI and $2.3B FDV.

Based on that comparison, the project is framed as potentially valuing around $3.5B-4B FDV.