Is Variational the Next Hyperliquid? | CEO Lucas Schuermann and Justin Bram
Show notes
What if the next major onchain trading platform looks less like a crypto exchange and more like Robinhood with institutional liquidity underneath? Variational co-founder Lucas Schumann and Head of Product Justin Bram join David to unpack the broker model behind Variational, why they believe swaps can improve on perps for real-world assets, and how TradFi liquidity can be brought onchain without rebuilding every market from scratch.
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TIMESTAMPS
0:00 Broker, Not Exchange
5:07 Why Brokerage Wins for Retail
8:22 What Is a Swap?
9:58 The Real Cost of Trading
11:43 Bringing TradFi Liquidity Onchain
14:44 Building Variational
23:14 From Crypto Traders to Everyone
26:42 The Next User Base
30:35 What Actually Happens Onchain?
34:00 Inside OLP
37:03 Arbitrum and User Funds
39:44 The VAR Token and 32% Airdrop
42:34 Funding the Token Model
44:11 The 2027 Roadmap
47:44 Protocol or Platform?
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RESOURCES
Lucas Schuermann
https://x.com/variational_lvs
Justin Bram
https://x.com/JustinCBram
Variational
https://www.variational.io/en
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