BulkTrade Launches USDC Margin Perpetual Contract Exchange on Solana Mainnet

BulkTrade has launched a USDC margin perpetual contract exchange on the Solana mainnet on September 5, 2026. Execution delays are reported to be between 5 to 20 milliseconds, with the settlement asset being USDC. Access to the mainnet is restricted through invitations and referral codes. The BULK token has not yet been released, and BULK is described as an L0 execution layer operating alongside Solana. Asset custody and deposits/withdrawals are managed by Solana, while order books and matching are handled by the BULK network. Funds are stored in user-specific PDAs of the Solana program, and withdrawals require FROST threshold signatures. The trading product is a USDC margin perpetual contract, with a maximum leverage of 100x, and funding is settled hourly. Perpetual contracts are futures-like derivatives with no expiration date, operating with margin and liquidation conditions. During the pre-deposit period that started on June 1, 2026, $25.9 million flowed in within 10 days, and by the end of August, the TVL exceeded $40 million. As of September 6, the TVL of BULK stands at $19.11 million. The initial testnet also recorded 110,000 wallets and 45,000 traders. BulkTrade emphasizes order book-based execution and portfolio margin, with its competitiveness relying on actual liquidity and execution quality.

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