Solana Perpetuals DEX Bulk Secures $8M Seed Funding

Bulk, a Solana-based perpetuals decentralized exchange, closed an $8 million seed funding round in September 2024, positioning itself as a new competitor in the crypto derivatives trading space. The funding round was co-led by 6th Man Ventures and Robot Ventures, with notable participation from Anatoly Yakovenko, co-founder of the Solana blockchain.

The San Francisco-based startup is developing a perpetuals trading platform that aims to address congestion issues on the Solana network through validator integration technology. Bulk's platform focuses on providing institutional-grade perpetual futures trading infrastructure built specifically for the Solana ecosystem.

The funding comes during what industry observers describe as a "perps drought" on Solana, with Bulk positioning itself to fill gaps in the derivatives trading market on the network. The company's approach involves direct integration with Solana validators to potentially reduce network congestion and improve trading execution speeds. 

Robot Ventures, known for backing early-stage crypto infrastructure projects, and 6th Man Ventures, which focuses on decentralized finance protocols, led the investment round. The participation of Anatoly Yakovenko signals confidence from Solana's founding team in Bulk's technical approach to solving network scalability challenges.

The funding will be used to expand Bulk's development team and accelerate the platform's launch timeline. The company has not disclosed a specific launch date but indicated that the platform is in advanced development stages.

Solana's derivatives trading ecosystem has lagged behind other major blockchains in terms of total value locked and trading volume. Bulk's entry represents an attempt to capture market share in this underserved segment while leveraging Solana's technical advantages for high-frequency trading applications. 

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