We @bulktrade fundamentally believe that in a financial system like derivatives trading, it is critical that transaction ordering and execution are independent -that multiple operators arrive at the same conclusion without a single authority influencing the outcome An exchange that enables the human urge to trade should not have unilateral control over who wins and who loses Crypto is a weird place to run unregulated exchanges that can censor, reorder, or delay our transactions with zero accountability Real ex: you have a position open, liquidation is 10bps away, you try to close - on every CEX and every single sequencer DEX.. there is no guarantee your close is processed without any bias Last 5 years the industry has suspected various chinese cexs of doing exactly this for liquidation fees! Operator controls the order of execution and you have to trust them not to abuse it Scaling an exchange without a single operator is a hard problem. You need to offer real advantages to different participants - maker protections against toxic flow, low-latency ticks for price discovery, fair execution for retail. The industry assumed you needed a centralised sequencer to deliver this! Our thesis and code proves you don't BULK delivers 20ms ticks and price discovery while being operated by a distributed set of Solana validators, A decentralised L0 network running a purpose-built BFT consensus that commits in a single round! To the people saying you need to defy physics to do this, you haven't touched low-latency distributed systems... Solana with MCP and Alpenglow already proves that lower latency and different market structures are possible at the L1 level BULK takes this to the extreme: leaderless consensus, multi-operator, Institutional grade risk engine and still faster than any true dex! We spent a long time building this infrastructure - from consensus, to recovery, to a risk engine that does real time margining with true portfolio margin unlocks that have never existed on-chain before. All this code boils down to one thing: cementing a great product at early.bulk.trade that traders love! Fastest fills and Best risk management with no compromises! An example of how different BULK's risk engine is from what exists today on a onchain dex : Liquidations are triggered by off-chain keeper bots.. These are external agents are incentivised to call a liquidation instruction when your margin ratio drops below threshold, the bots evaluate each position independently, close it via market order, and collect a fee There is no awareness of your portfolio. No consideration of whether that position was hedging another. No optimisation of market impact or how wider book will react! This is destructive. Closing a position that provides correlation benefit to the rest of your portfolio "a hedge" can actually increase your portfolio risk! Triggering further liquidations in a downward spiral, this is exactly what happens during cascading liquidation events, and it's why every major blowup in crypto exchanges follow the same pattern.. On the other hand - BULK's liquidation engine is an optimiser, not a simple closer. When a portfolio breaches its maintenance margin, the system evaluates every position and computes an "impact ratio": how much margin is reduced per $ of liquidation cost. Positions that reduce the most risk for the least market impact are liquidated first. Positions that provide hedging benefit: where closing them would increase portfolio margin are explicitly preserved This is how worlds biggest clearing houses manage defaults (CME, OCC.. etc) It has never existed on-chain before! And this is just one part of a wider, deeply integrated risk system: portfolio margin, regime-adaptive margining, continuous risk surfaces, real-time trade checks - all running deterministically on every validator Building a product that gives every trader access to best tools, the same tools that (in tradfi) need you to have high 6 figure accounts and prime brokerage relationships (ex- CME SPAN requires 50% of last clearing price of an contract as margin) brings me great joy. We are here to win with our traders..and we will do it tick by tick, transparently and by building a great product. Gbulk

AURA SATURDAY The best day of the week is here... Have you been AURAmaxxing? Open the door: early.bulk.trade/deposit

30,000,000 gBULK

BulkSOL rate trading on Exponent extends with a new October maturity Migrate to the BulkSOL-31OCT26 market to earn weekly AURA, with $5K in Limit Order rewards from launch ↓

News: @bulktrade Amasses $25.9M in Pre-Deposit TVL Ahead of Mainnet Launch ✍️ @solace_fm solanafloor.com/news/bulk-am…

I believe wholeheartedly that we are on the precipice of something truly industry defining Like anything attempted at this scale, it takes time to ensure everything is done the right way, as catastrophic failure simply cannot be an option when considering user funds In an industry where we have been plagued by exploits, it’s important to ask questions and be cautious… But at the very least, you should take the time to understand something before dismissing it Many of our campaigns (from up to now, and in the future) may seem unorthodox when you’re lacking the context we have internally When making a lot of noise (trust me I know I can be insufferable on the timeline sometimes), you will inevitably get mixed responses. I am always happy to answer any questions and clear any doubt should you have them What we have is the product of years of incredibly long hours, sacrifice and sheer determination to be the change we wanted to see in finance Yes, mainnet is not live yet, but soon it will be… And I implore you to atleast give it a try to see what me and many others have been so excited about sharing Tick by tick… One Exchange. Infinite Markets.

Correlations = Efficiencies

Hey @DefiLlama 👀

Higher

ITS AURA SATURDAY 1,000,000 AURA has been distributed… Time to see what you got 👀 Open the door: early.bulk.trade/deposit

Aura maxxing in these market conditions

“@bulktrade pulled $20,000,000 in predeposits in these conditions”

gbulk @bulktrade сan I call this a good tek or is it just a skill issue?

Please go easy on him.. He is actively monitoring the dashboards 😆

We are running one of the coolest experiments at @bulktrade right now spent last few months stress testing every part of executor (risk matching ledger) through various traffic profiles At peak we had more than 60k daily active users who placed orders, managed trades and stress tested the system We also ran a gated trading comp with paper margin to stress test liquidations, margining engine and also collected all the data points to improve our offering. Our sell is simple - get access to best margining engine in crypto, every single asset live on the platform today offers correlation hedging, reducing your margin requirements on trades up to 70%. This is the next step in evolution of risk on crypto derivatives, SPAN style margining has been around since 1980 and various exchanges like CME maintain this model to offer the efficiency on your capital. BULK evolves this model further to bring live regime switching instead of t 1 days offered by CME. This gives traders a reliable mechanism to calculate margin requirements for the next regime without depending on bulk team to disclose it. Pre deposits are the first step towards awarding our feedback loop and aligning with power users! If you are a trader, mm, fund - go try out true portfolio margining and give us your feedback

$15,000,000 DEPOSITED 3 days until the first AURA goes out to pre-depositors... are you in? Deposit now: early.bulk.trade/deposit

everyone wants to be early. almost nobody knows what early actually looks like $15M in pre-deposits. in 48 hours. in THIS market. this is what asymmetric looks like before it's obvious stop being lazy. convexity pays

Crazy bulker

If one thing is certain… The hype is real In a period of market uncertainty, plagued by various hacks and exploits onchain, this is an achievement Almost entirely retail driven with 2,800 depositors, with some institutional and maker participation Onwards 🫡

THE AURA IS FLOWING $7,500,000 in 24 hours... we're just getting started Deposit now: early.bulk.trade/deposit

Some things to note about the way we operate: We don’t just believe in alignment, everything we do is considered with how we can maximise exactly this From every possible market participant, we want to ensure a mutual interest in the success and longevity of the protocol >We have never, and will never do private token deals >All points programs will be public and accessible to everyone >We will not be diluting early points holders with inflated distributions at later dates In order to have a permissionless, global exchange… Alignment is at the core of our design Realising the endstate for DeFi requires a network owned and operated by the people who use it From traders and liquidity providers, to validators and stakers securing the network Remember what it felt like to believe in something?