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A new player has joined the Solana ecosystem. Bullet Protocol announces the launch of its mainnet, focusing on ultra-low latency perpetual contract trading — 1 millisecond response time, with a yield-bearing treasury mechanism. The project has attracted institutional funds during its private testing phase. Regarding tokens, $ZEX and $BULLET have completed a 1:1 mapping conversion, with a current valuation of $16.4M, and a fully diluted valuation of $87M. As a new batch of DeFi derivative protocols on Solana, whether Bullet Protocol can carve out a market share depends on market reactions.
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The mapping conversion part is quite familiar. Starting valuation at $16.4M is not low, and after full dilution, it jumps directly to $87M... This story is quite ruthless.
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Perpetual contracts + yield treasury, same old套路, the key is whether there is real TVL and trading volume backing it.
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Institutional funds entering private testing does show some signals, but there are already a bunch of SOL ecosystem derivative protocols. Can this time really deliver differentiation?
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What I really want to know is whether gas fee optimization has been done properly. If the 1ms response is out of sync with mempool monitoring, sandwich attacks can be easily executed in minutes.
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It's both SOL and perpetual... But I have to admit, the low latency aspect is indeed a research-worthy competitive advantage.