Frequently Asked Questions
What is Bullet?
Bullet is the trading layer for DeFi. It’s designed as a Network Extension that’s purpose-built for high-speed DeFi, bringing performance and capabilities that exceed CEXs on-chain, while maintaining transparency and verifiability. It features perpetuals, spot and lending capabilities as core primitives and is built to be fast, congestion proof and resilient to MEV. It still ultimately posts transactions to Solana where consensus, data availability and settlement occurs, allowing it to inherit the security guarantees of the L1.
What is a Network Extension?
A network extension is a dedicated execution environment that sits on top of Solana built for application specific use cases. In Bullet’s case it allows for the execution of complex exchange and risk engine logic while bringing latency down to 2ms. Bullet still ultimately settles and posts transactions back to Solana where the transactions can be verified and the network is secured.
How does Bullet work?
Bullet is a Network Extension, it is a dedicated execution layer for trading which process transactions in real-time brining latency down to 2ms, which is 200x faster than other Solana DEXs and faster than Binance. It then posts the transactions to the Solana L1 and due to Bullet’s zkVM (zero-knowledge-virtual-machine) provers can then generate ZK-proofs for these transactions ensuring fairness, transparency and verifiability.
What happens to ZEX?
ZEX will be depreciated/not maintained going forward with emissions coming to an end. The existing ZEX circulating supply will be able to migrate their tokens 1:1 conversion into the BULLET network token at genesis. This migration will occur after the Bullet mainnet release once the network is stable and begins its roadmap towards proper decentralization.
What happens to my staked ZEX?
Users who have staked ZEX will be able to migrate to the Bullet network. When the token migration into Bullet occurs, these users will split a significant pool of bonus tokens as boosts to their stake, rewarding their long term alignment. A users share of bonus tokens will be based on the users staking activity.
Why is a new token needed?
Bullet is not just a rebrand, it is a new network with a fundamentally different token with features such as gas fees, staking and node operations/rewards which are used to power the operation of the Bullet network which would not be possible without the BULLET token.
What is the Bullet token used for?
The Bullet token is a network token that will be deeply integrated with the core trading primitives. Its network functionality will be similar to L1 tokens where users pay gas fees in the native token and various node operators will stake Bullet tokens to operate nodes and support network security. The token will also tie the core trading primitives into the Bullet network, read more here.
Last updated