Introduction

Our quest for high-performance, unstoppable DeFi applications.

Bullet is a next-generation blockchain that aims to redefine the user experience of decentralized applications and on-chain trading. Despite blockchains having received a reputation for being slow, cumbersome and expensive to use, Bullet leverages the state of the art when it comes to blockchain design and zero-knowledge cryptography to enable highly performant yet verifiable applications. Existing as a network extension (an application-specific layer) on Solana, we benefit from the throughput and continued scaling of the Solana base layer, whilst applying many of the learnings and research from zero-knowledge cryptography and modular blockchain design principles.

To underscore the impact of such a piece of technology, we've very strongly taken the approach that infrastructure should not be built in a vacuum. Hence, Bullet will contain several core DeFi primitives built into the fabric of the network, namely Perpetual Futures, Spot and Lending. With a custom-built substrate for DeFi that allows for sub-2ms transaction execution, thousands of transactions per second (TPS) and seamless user onboarding, we are excited to finally have decentralized exchanges (DEX) that can compete with centralized exchanges (CEX) without having to trade off security and transparency.

Why We Built Bullet

Our team previously built Zeta Markets, a leading perpetual futures trading platform on Solana that was one of the first to pioneer the on-chain central limit orderbook (CLOB). Being forged in the crucible of Solana's second ever hackathon, and experiencing the collapse of centralized crypto exchanges like FTX first hand, we have an undying belief that DeFi is the solution to walled gardens of finance and the antidote to the fraudulent actors who plague the crypto industry. The need for financial markets to live verifiably on-chain has never been greater.

Unlike new hotshot teams, we are no strangers to this problem space. Over this almost four year journey, our platform processed over $15B in notional perps and options trading volume, and taught us an incredible amount about what it takes to run a successful exchange. These learnings have been crystallized and engineered into the very essence of what makes Bullet unique and groundbreaking.

The Opportunity At Hand

We built Bullet because we recognized that Solana, despite being a powerhouse in spot and memecoin trading, lagged significantly behind the competition when it came to a professional-grade derivatives trading experience.