BULK employs a sophisticated, modular architecture that separates the time-sensitive operations of order propagation and matching from the less time-critical, but security-paramount, function of on-chain settlement. This design is built upon a fork of the dominant Solana validator client, Jito-agave, and introduces a suite of custom components purpose-built for high-frequency trading. High-Level Architectural Blueprint The BULK system is comprised of several interconnected components, each with a distinct role in the order lifecycle. These components work in concert to create a seamless flow from a trader’s intent to final, on-chain settlement, with a clear delineation between off-chain execution and on-chain state. The key components of the BULK architecture are:
  • Bulk-agave: This is the core validator client software. It is a strategic fork of Jito-agave, the most widely used validator client on the Solana network. This decision is fundamental to the entire system’s viability, as it allows validators to run BULK’s trading logic without forgoing the significant MEV revenue generated by Jito’s blockspace auctions. Validators earn from bulk’s orderflow of the orderbook.
  • BULK Tile: This is the high-performance heart of the system, an in-memory execution environment that runs on every validator node. The Tile is where the critical, logic resides: the deterministic matching engine, sophisticated risk kernels for margining, and the liquidation engine. By operating entirely in memory, the BULK Tile is decoupled from the constraints of Solana’s on-chain execution environment, enabling it to operate at millisecond latencies.
  • BULK Net: This is a custom, high-speed order propagation layer designed for ultra-low-latency global dissemination of orders.BULK Net uses a novel combination of erasure coding and a UDP fan-out mechanism to achieve sub-20ms propagation times. It effectively functions as the nervous system of the exchange, ensuring that orders reach all validators near-instantaneously.
  • BULK Db: To ensure data persistence and redundancy, each validator runs a BULK Db instance. This is a key-value, log-structured database that is peer-replicated across the network. It is responsible for storing the canonical log of state and trade fills generated by the BULK Tile, providing a fault-tolerant record of all trading activity.
  • Commit Path: This is the bridge between the high-speed world of BULK and Solana. The Commit Path is a process that batches the state changes (deltas) produced by the matching engine, aggregates cryptographic attestations from a quorum of validators using BLS (Boneh-Lynn-Shacham) threshold signatures, and periodically commits this aggregated proof to the Solana L1 as a single, highly efficient transaction.