Where the Variational protocol ends and the Omni application begins: what settlement pools define, what Omni decides, what OLP is, where revenue comes from and how this split affects risk.
In July 2026 Variational announced swaps, and by October its roadmap marked their launch as done. How this instrument differs from a perpetual future and which questions remain open.
Variational describes itself as a protocol for trading and settling derivatives, not as an exchange. We look at its components, how Omni and Pro differ and which risks the documentation itself names.
