Bullet
Solana's trading layer: a network extension delivering sub-2ms perps and spot with unified margin, built by the team behind Zeta Markets.
Overview
Bullet is a high-performance trading layer for Solana built by the team behind Zeta Markets, one of the first on-chain central limit orderbook perps DEXs on the network. Rather than a standard application, Bullet runs as a network extension: a dedicated execution environment that processes trades with roughly 2 millisecond latency, then posts transactions back to Solana for consensus, settlement, and data availability.
Its flagship exchange offers perpetual futures, spot, and lending as core primitives, with unified cross-margin, multi-collateral support, and leverage up to 100x. Bullet uses a zkVM to generate zero-knowledge proofs for fairness and verifiability, taps Celestia for data availability, and integrates the Pyth Lazer oracle for low-latency pricing. The team previously processed more than 15 billion dollars in notional volume on Zeta, whose ZEX token migrates one-to-one into the new BULLET network token.
Bullet targets traders who want centralized-exchange responsiveness without giving up Solana settlement and self-custody. Users deposit from Solana, trade perps or spot with familiar order types, and withdraw back to the base layer. Architecture, token details, and integration guides are documented at docs.bullet.xyz.
The Problem
Solana's 400 millisecond block time and general-purpose runtime make it hard to run a perps exchange at centralized-exchange speed. Forcing complex matching and risk logic onto a shared L1 leads to latency, congestion, and MEV that professional traders cannot tolerate.
The Solution
Key Features
Sub-2ms Execution
A purpose-built network extension processes orders in about 2 milliseconds before settling on Solana.
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Resources
Bullet documents its network-extension architecture, BULLET token, and trading primitives at docs.bullet.xyz, with open-source history under the zetamarkets GitHub organization and updates on X. The product and waitlist live at bullet.xyz.
