kdot | bulk

Customer Service @bulktrade

[kdot | bulk @kdotbulk]

Skynet is approaching

[kdot | bulk @kdotbulk]

@0xJermo 😂😂😂

[kdot | bulk @kdotbulk]

You must now call me kdotbulk

[kdot | bulk @kdotbulk]

@MadVincent666 @MythagoW3 @bulktrade @MadLads Welcome to the dark side

Mad Jarvis, meet Jun

[kdot | bulk @kdotbulk]

Lighter now moving to a fee model and Vari don’t post their revenue afaik but I can imagine it does not outweigh current burn

There are 3 ways to do a zero fee model

>You either have to trade more aggressively against your users
>You trade very fairly and make 1/10-1/20 the revenue/volume ratio (seemed lighter did this and now had to monetise more of the flow via fees or pfof
>You do some form of PFOF

We havent seen any of these scenarios play out without the need to monetise from the flow elsewhere or introduce fees

[kdot | bulk @kdotbulk]

0 fees is not a moat nor is it sustainable

[kdot | bulk @kdotbulk]

CME’s SPAN has been regarded as the golden standard of how a venue would assess risk since 1988

They realised before anyone else, is that a portfolio aware system not only provides the sophistication for an exchange to recognise correlated/hedged/basis trades, that the margin requirement to maintain these position can be haircut

This essentially meant that now people could utilise the same amount of capital, for higher notional positions, while also having downside protection against volatility with hedged pairs

It caught fire over night due to the sheer dominance it had on margin efficiency over anything else. CME has remained king ever since

As industry defining as it was, this isn’t something you can just pick up and drop into a blockchain to launch your exchange. Several huge crucial elements are still missing

BULK completes the stack with by wrapping the clearing house, matching engine and prime brokerage all into a unified portfolio aware margining system

There is nothing more exciting than realising the endless possibilities when you combine a span inspired exchange with the composability of blockchain and a wider suite of unique markets it offers

You start to realise how early you are when we haven’t even covered spot, options, and even the more traditional futures that will all fall under the same roof

It’s been a great 6 weeks… But the work we have done behind the scenes for the last 2 years have positioned us for the next 20

You have not seen yet a fraction of what the underlying infrastructure can offer

Dream bigger

[kdot | bulk @kdotbulk]

@ZhugeLyang @bulktrade 30-60 or we riot

[kdot | bulk @kdotbulk]

@aceddeca1 @bulktraders Caleb will soon join the dark side

[kdot | bulk @kdotbulk]

Recruiting plumbers for @bulktraders

[kdot | bulk @kdotbulk]

@aut3z Stimmy Saturday’s… Courtesy of @bulktrade

[kdot | bulk @kdotbulk]

@rizzy_sol @just4showsol @bulktraders Let us know what you think! @just4showsol

[kdot | bulk @kdotbulk]

@momotavrrr @bulktraders 👀

[kdot | bulk @kdotbulk]

When you combine this execution with our margin efficiency, ‘who’s next’ becomes obvious

The cheapest place to trade isn’t the cheapest if you still require more capital to trade the same size

TradFi will feel this the most, so whoever solves this problem will have a shot at onboarding that flow

Ask yourself: What does my venue offer that the current leaders do not?

If you can’t come up with a convincing answer, we welcome you to BULK 🫡

[kdot | bulk @kdotbulk]

We spent 2 years building the foundations

Now in just 6 weeks;
>Only onchain venue with SPAN margin
>Top 5 for onchain execution
>Industry first validator sidecar network
>20ms leaderless consensus

Many industry firsts will be achieved on BULK

[kdot | bulk @kdotbulk]

@web4O Just one more perp dex bro pls

[Jun | bulk trade @junbug_sol]

We are so early.. back to work, I keep reminding myself perps are 0.1% of traditional derivatives

We have to build systems that trad finance offers, without the clunkiness of crypto to accelerate tam 🫡

[kdot | bulk @kdotbulk]

@Tristan0x That would be the goat @cryppimagic

https://t.co/RsSbBBylxy

[kdot | bulk @kdotbulk]

We spent 2 years building the foundations

Now in just 6 weeks;
>Only onchain venue with SPAN margin
>Top 5 for onchain execution
>Industry first validator sidecar network
>20ms leaderless consensus

Many industry firsts will be achieved on BULK

[kdot | bulk @kdotbulk]

There is a realisation that a portfolio aware margin account is not only a luxury, but essential

Expecting institutional folks to use multiple times the capital to do the same activities onchain was never wise

They need a portfolio aware margining system and the discounts it unlocks. We cannot expect them to require use more money on the same activities onchain

BULK launched with this natively on Day 1. This is our bread and butter and now we roll out spot, options and money markets to further strengthen that offering

Similar to being this first to bring this onchain, we will be once again pushing the boundaries of possibility with our next couple of releases

Onwards 🫡