**[Variational Launches First Swap Markets XAU and US100]** Odaily Planet Daily News: Variational has launched its first Swap markets, XAU and US100. The execution cost can be reduced to as low as one-eighth of on-chain TradFi perpetual contracts. The trading method aligns with traditional financial markets and can directly integrate with TradFi broker liquidity to provide deeper market liquidity and more predictable holding costs. Swaps offer exposure to underlying assets, similar to perpetual contracts. The difference lies in the source of liquidity and holding costs: Swaps are based on TradFi liquidity quotes and replace the volatile funding rate with a stable holding cost rate primarily referencing USD borrowing costs. As with all Variational markets, Swaps do not charge trading fees. Swaps will trade in parallel with existing TradFi perpetual contracts, and Variational plans to continue launching new Swap markets in the coming months at a pace similar to that of the perpetual markets.