Trading Relations @bulktrade Managing the squad @bulktraders
Joined October 2021
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New chapter: I'm now leading Trading Relations at @BulkTrade.
Onchain perps have always made traders pick one: speed, execution quality or capital efficiency. Bulk solves this trilemma: 5–20ms matching and propagation, fair ordering, and state-of-the-art portfolio margining inspired by gold-standard CME SPAN, all running on leaderless consensus.
Proud to be building with founders @kdotcrypto and @junbug_sol and the cracked growth team: @hotlneblng_, @CoryLoo and @glowburger.
My job is simple: make Bulk's trading experience the industry standard, bring the best traders here and give them every reason to stay.
Kingmaking starts today.
gBULK
when Jun speaks, please, just shut up and listen to this man
Agree that demand and cost of capital matter. . I disagree is that there isn’t a tech gap
Building the infrastructure was hard, yes. what matters is what it unlocks-
tradfi already uses sophisticated portfolio margining. Derivatives traders expect their hedges to count when calculating margin and much more. BULK brings that onchain: recognising cross-asset offsets, adapting margin to market conditions and accounting for the actual cost of liquidating positions is a start
A hedged portfolio ties up less capital because the engine recognises the reduction in risk. That changes the economics for everyone
Thats the smallest PMF we are pursuing: traders who want better capital efficiency, quality execution and an engine that can handle sophisticated derivatives portfolios. Today’s ICE / Trade[XYZ] announcement is another signal of where demand is heading..
More on the risk model here:
nitter.cf/0xJaehaerys/status/211…
You can notice a trend here - all the offerings are completely done on purpose built envs
We are 50+ days old in prod and are onboarding traders everyday - we are just getting started with the quality of execution too
"we give you money, but you have to spend your own money first. oh, and you cannot withdraw it"
how are people getting bullish on this? genuinely one of the most retarded things happening in perps lately
choose wisely where you trade and farm points.
in a world full of wannabe-HL exchanges, just pick @bulktrade
this aged well
I had the opportunity to speak with many amazing teams this year, but my perfectionist side has eventually chosen Bulk. The only criterion for me was that the product had to solve a real problem, and not some bla-bla bullshit. Why?
modern perps landscape is getting more and more saturated with copy-paste platforms. In 2026 it's no longer enough to offer fast execution, deep liquidity, and points. Every perp dex has one of these features. Everyone can fork Hyperliquid and make a clone, copy the same marketing message about speed and rewards. It is much harder to be different.
I have traded hundreds of millions on various exchanges, and can confidently say that Bulk is unique. We are far from perfect, and we've just begun to scratch the surface of what is possible. But in order to bring the Nasdaq experience onchain, we need the infrastructure that enables TradFi venues to trade trillions every single day. That's what Bulk is building toward.
Perhaps you are bored with that narrative, but I am confident that once you have tried this tech for yourself, you'll understand why I've been so excited about it.
But enough of this bish-bosh. Back to building.
you’ve probably heard a lot about our core product, SPAN-style portfolio margining, but maybe never felt like diving into the details.
I get it. really.
it’s not as simple as “spot + perps” hedging, and it can feel pretty niche, especially now that most retail traders are hyperfocused on zero-fee exchanges.
while ct argues over how cheap it is to open a position, the real question is how cheap it is to maintain it.
fees are a one-time cost. you pay them when you enter and when you exit. that’s it. margin is different: it’s capital you lock up for as long as the position is open. a few bps saved on execution mean nothing if half your stack is sitting idle as collateral.
real capital efficiency is about how flexible your money is: whether your positions across spot, perps, options and outcome markets can offset each other and cut what you have to post.
tradfi desks have had this for decades through SPAN and prime brokers. onchain, it barely exists, because no single venue has the breadth of markets to net against.
that’s what we’re building at BULK: perps first, then spot, options and outcome markets in the same account, with one risk engine across all of them.
and you’re still early.
gBULK.
Maker | BULK retweeted
The BulkSOL market on @ExponentFinance is coming to a close at the end of the current maturity.
Beyond Oct 31, the pool of AURA currently rewarding stakers each week will be reallocated to reward activity on the BULK Exchange.
For more information on your Exponent positions 👇
One year of BulkSOL on Exponent, completed with the current maturity
→ $125M+ in yield trading volume
→ $17.4M peak market size
→ 440K+ AURA accumulated
Three maturities of fixed yield, rate trading and leveraged AURA farming with @bulktrade ↓
Side note: aurabulk was started as a community initiative long before I joined Bulk. it wasn't a project commissioned by the team, though I did get some technical guidance along the way, for which I'm very grateful.
aurabulk is still maintained by me, because I honestly believe it offers one of the best experiences to our traders. Now that I'm part of the team, sensitive information obviously doesn't go into it, but I will keep adding features that are useful to the community without hurting our interests.
I’m truly honoured you still use it guys♥️
How much could 1 AURA be worth?
@bulktrade has made a tool where you can also estimate your Airdrop
Current points: 21M
Possible final emount: 60M
At $500M FDV my Airdrop would be almost worth 5 figs
And we are just getting started
Maker | BULK retweeted
Stuck here completely immersed in the realisation of how wide the scale of opportunity is when you combine truly exceptional minds with people who genuinely love what they do
There is no framework or set way of doing things and we will continue to pursue ideas that excite us as users ourselves
We are so lucky to have an opportunity in this period in history to truly take swings at some of the most impactful financial innovations that will ever launch
Beyond the tech, the unique thing about crypto is it is backed by a global community of believers in this self sovereign mission for free, fair and permissionless access to finance and their assets as a whole
Beyond the professional firms that make a living on trading floors, there are real people making real livings as a retail trader and we are going to give them a network of support… and you guys access to them
More to come 🫡
Maker | BULK retweeted
Hey @frankdegods
You would shave off almost 10% of your margin requirement by placing these same trades on @bulktrade
Come to the dark side brother
.@frankdegods is still shorting the market at 10-15x leverage.
Most these trades are up 30-100%. He is still yet to close.
Every trader I know is saying we are going much higher in October, does Frank know something we don't? lol
Maker | BULK retweeted
91% lifetime and 93% 7d volume integrity
Wonder how many other venues would post theirs...
who the f is Sanjay and why @jadoodoo isn't #1?
21 traders didn't make it to London.
You get to bring one back. Who's it going to be?
Players from Belgrade, Seoul and Singapore. Vote one back to London.
frontiertraders.com/wildcard
Mad Lads are joining us, LFG!
Hey @MythagoW3, what's ur @bulktrade ref code?
Coz Lads support Lads. @MadLads
@kdotbulk, you built Bulk. Think it can handle Mad Jarvis?
He's been studying ur API docs since last Saturday.
Worst case, I learn something.
Best case, u do. ✌️
oh, @ThinkingUSD come to @bulktrade, you can gain some aura here
regardless of who you are:
— a trader
— a market maker
— a builder
— a deployer
there's a place for you on @bulktrade.
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
The Challenger Series page just went live on aurabulk.xyz!
You can now track:
— live prize pool (current + projected)
— detailed stats for this week’s Gauntlet
— breakdowns for each league
— estimated payouts for EVERY eligible wallet
I also want to highlight that @bulktrade is running one of the most transparent airdrop campaigns to date:
— no hidden pools
— no shady wallets holding AURA
— no skewed distributions
— no team wallets (I’ll make sure @kdotbulk gets nothing at TGE, don’t worry)
you can literally verify and check every wallet on the leaderboard.
every.
single.
data point.
transparency is a top priority at bulk.
Maker | BULK retweeted
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 🫡