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first_img Castle Labs: Variational Swaps have execution costs 8 to 12 times lower than mainstream on-chain venues

Castle Labs released a research report on September 10, comparing the execution costs of the swaps products launched by Variational with traditional perpetual contracts. The report shows that for most trading volumes, Variational is currently the lowest-cost venue among listed assets, with the cost of a $1 million trade in the US100 market being only $47.The report points out that the trading volume of RWA perpetual contracts has grown from less than $1 billion in October 2025 to over $12 billion in August 2026, currently accounting for about 12% to 13% of on-chain perpetual contract trading volume, with a peak in July reaching 20%. As of the report's release, the total open interest of RWA perpetual contracts was $4.9 billion, with TradeXYZ and Variational accounting for nearly 90%.Variational's swaps utilize RFQ execution and the proprietary liquidity provider Omni, with liquidity coming directly from traditional financial partners, and the fees being a holding cost charged once at the daily close, rather than relying on market supply and demand funding rates. Since the launch of the US100, US500, XAU, XAG, and USOIL markets at the beginning of the month, a total trading volume of $3.8 billion has been accumulated, with a peak open interest of $245 million. Currently, swaps have contributed over 50% of Variational's daily trading volume and more than $220 million in open interest.

WEEX Labs: GME's performance exceeded expectations but the stock price still fell, AVAV announced its financial report after hours

On September 9, WEEX TradFi market data showed that GameStop (GME) stock price slightly decreased by 1.41%, closing at $18.89. Its latest disclosed Q2 financial report shows an adjusted EPS of $0.27, revenue of $790.2 million, a year-on-year increase of 57% in collectibles sales, and an operating profit of $160.2 million, a record high. The adjusted EBITDA for the fiscal year 2026 has been raised to over $650 million. WEEX Labs believes that the weak GME stock price is due to twofold pressure: first, the overall core revenue is still showing a severe double-digit decline compared to the same period last year, and the traditional retail to digital transformation has not achieved a fundamental breakthrough; second, market expectations regarding equity swaps and potential follow-up fundraising have squeezed bullish sentiment.In addition, AeroVironment (AVAV) will announce its FY27Q1 financial report after the market closes today, with market expectations for EPS around $0.22 and revenue around $468 million. Its stock price volatility will depend on the ramp-up of drone order capacity, gross margin performance, and the fulfillment of warehouse delivery guidance. Trade stocks and gold with WEEX TradFi, and you can also open daily eggs, with a 100% chance of winning, to win up to 10,000 USDT in position airdrops.

Data: YZi Labs ranked as the second largest active family office globally in August, participating in 10 financing rounds with a total scale of 42.1 million USD

According to the disclosure by Family Office New Intelligence, data service provider FINTRX tracking shows that in August, family offices participated in a total of 109 transactions, with the total disclosed financing amount reaching 16.9 billion USD. Among these, follow-on financing rounds, where family offices continued to invest in companies they already hold, accounted for 27% of the transaction count. This indicates that, compared to continuing to invest in existing projects, family offices are more active in seeking and investing in new projects. The most active institution in August was a16z Perennial.a16z Perennial was established in 2022 and is a joint family office under the venture capital firm Andreessen Horowitz, providing wealth management and investment services for its core partners Marc Andreessen and Ben Horowitz, as well as the entrepreneurs they support. As of the end of 2025, a16z Perennial manages approximately 2.74 billion USD in regulated assets. In August, a16z Perennial participated in a total of 17 transactions, ranking first; the total disclosed scale of the related financing rounds reached approximately 10.45 billion USD.Ranking second is YZi Labs, founded by Binance founder Changpeng Zhao. YZi Labs manages over 10 billion USD in assets globally, with investment coverage including Web3, artificial intelligence, and healthcare, and invests in startups at various stages of development. In August, YZi Labs participated in 10 transactions, second only to a16z Perennial; however, the total scale of the financing rounds involved in these transactions was 42.1 million USD, largely appearing in large financing rounds of several hundred million or even several billion USD.It should be noted that the amounts mentioned above refer to the total financing scale of all investors in the related financing rounds, rather than the actual investment amount of the family offices themselves. Due to the strong privacy of family office investments, it is usually difficult to obtain the specific investment amount of a single family office in each transaction.
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