Some personal news 🙌
I’m super excited to share that I’m joining @dragonfly_xyz to build out portfolio support!
Thrilled to be working with some of the most brilliant folks in crypto and excited to learn from powerhouses @casatay@hosseeb@tomhschmidt and the whole team!
Insane how you could be in the coolest place ever but then you get back to California and all of the colors are like 1.5x more saturated and the light is slightly brighter. Absurd place
We’ve raised $50M led by @dragonfly_xyz to go all in on RWAs and bring TradFi liquidity on-chain.
Today, we're launching Phase 1 of our RWA rollout to stress-test our infrastructure before bringing 100+ TradFi markets on-chain this summer.
> 3 years ago it was quasi-illegal for a US bank to interact with crypto
> Now, Citi ($210b mkt cap + a global systemically important bank) telling investors they're expanding to ... actual public blockchains!
> While sentiment around the space is the worst I've seen in a while, the extent of the progress has never been better?
Every new RWA market on an on-chain orderbook has to bootstrap liquidity from scratch. One asset at a time. One incentive program at a time. One limited puddle of crypto-native depth at a time.
Meanwhile, the dealers and venues that power the underlying TradFi markets are sitting on trillion-dollar liquidity oceans built over decades.
The venue that wins RWA perps will be the one that connects to the deepest existing liquidity in the world, enabling thousands of listings with high quality execution.
We’ve been building this model at Variational since the beginning.
Phase 1 of our RWA rollout launches in May. Variational Summer.