Three Stacked Yield Streams for BULK Institutional Depositors

Most yield strategies force a choice: deploy capital here or there. BULK’s pre-mainnet structure allows institutional depositors to run three independent income streams simultaneously — each drawing from a different mechanism, each with a different risk and return profile. None of them cannibalize each other.

Understanding how to stack all three is the difference between a basic pre-deposit and an optimized institutional position.

The Three Streams

Stream 1: Pre-Deposit AURA (Size × Time)

Mechanism: 1,000,000 AURA distributed every Saturday to all pre-depositors. Each depositor’s share is proportional to their USDC-days: deposit amount × days held during the distribution period.

Key properties:

• Linear scaling: 10× more capital = 10× more AURA, all else equal
• Time-compounding: earlier deposits accumulate more USDC-days before TGE
• Pool-dilutive: as more depositors join, percentage share per dollar declines
• Capital requirement: USDC deposited to early.bulk.trade ($10 min, $5M max per wallet)

Conversion: At mainnet, the pre-deposited USDC converts automatically to trading margin. The capital that earned AURA becomes the capital you trade with. No separate action, no withdrawal-and-redeposit friction.

Who optimizes this: Large depositors who can hold capital at the $5M ceiling for the full pre-deposit window maximize USDC-days. Every week of early entry compounds relative to late entrants.

Stream 2: BulkSOL Staking Yield (Four Independent Sources)

Mechanism: BulkSOL is BULK Exchange’s native liquid staking token. Holding BulkSOL generates yield from four independent income streams simultaneously:

The exchange fee stream is the critical one. Hyperliquid’s closest equivalent was HYPE staking, which routed a portion of exchange fees to stakers. BulkSOL routes 12.5% of all exchange fees proportionally to all BulkSOL holders. As BULK Exchange trading volume grows post-mainnet, this stream grows with it.

An institution that accumulates BulkSOL during the pre-mainnet phase holds a claim on exchange fee revenue that compounds with protocol growth. Accumulating post-mainnet, when the fee stream value is priced into the market, costs more.

Who optimizes this: Institutions with a multi-year time horizon on the position. The exchange fee stream is most valuable if BULK achieves significant trading volume — the same bet that paid off for early HYPE stakers. BulkSOL holders also earn Season 1 AURA from a separate allocation within the weekly pool.

How to get BulkSOL: Available on Titan. See: BulkSOL AURA Guide

Stream 3: Referral AURA (Uncapped, Pool-Independent)

Mechanism: 1 AURA per eligible $100 held by your referrals each week. Referred depositor must hold ≥$100 through the weekly snapshot. No cap on referrals. No cap on referred amount. Rate does not dilute as pool grows.

Key properties:

• Flat rate: 1 AURA per $100, regardless of total pool size
• No additional capital required from you beyond the $10 minimum to get a referral code
• Independent of Streams 1 and 2 — referral AURA is calculated separately and added on top
• Uncapped: there is no ceiling on weekly referral AURA

The compounding effect: As the total pool grows and Stream 1 AURA per dollar declines, Stream 3 referral AURA becomes relatively more efficient. At a $500M total pool, a referred $100k deposit generates 1,000 AURA/week to the referrer — while the same capital held directly generates only ~200 AURA/week. Referral AURA is 5× more efficient per referred dollar at that pool size.

Who optimizes this: Institutions with networks of investors, LPs, counterparties, or community members who can be introduced to the pre-deposit opportunity. One large referral (>$500k) generates more AURA per week than most retail participants earn from their entire position.

See: The Institutional Referral Playbook

Stack Architecture: How to Run All Three Simultaneously

The three streams are not competing claims on the same capital. Here is how to structure all three:

Capital Pool A: USDC → Pre-Deposit (Stream 1)
Capital Pool B: SOL → BulkSOL via Titan (Stream 2)
Network: Referral Code → referred USDC (Stream 3, requires no capital from you)

Stream 1 and Stream 2 draw from different asset pools. An institution holding USDC can deploy it to pre-deposit (Stream 1) while simultaneously acquiring BulkSOL with SOL or other capital (Stream 2). These do not compete.

Stream 3 requires only that you have a referral code (obtained by making a minimum $10 deposit) and that you actively distribute it to people likely to make deposits of $100+. The capital generating your referral AURA is not your capital — it belongs to the people you refer.

Example: $2M Institutional Stack

In this example, Stream 3 (referral) generates nearly as much AURA as the $1M direct deposit — from three relationships, with no additional capital deployed by the institution.

The Risk-Adjusted View

Each stream has a different risk profile:

Stream 1 has the highest liquidity: the underlying capital (USDC) is withdrawable at any time before mainnet. The risk is the AURA-to-token value at TGE.

Stream 2 has liquidity dependent on BulkSOL market depth on Titan. The long-term upside is correlated to BULK Exchange success.

Stream 3 has no capital at risk from the referrer’s perspective. The risk is that referred depositors withdraw before the weekly snapshot, which forfeits that week’s referral AURA.

Timing the Stack

All three streams run concurrently through the pre-deposit phase. The optimal entry sequence:

Week 1 (now):

• Deploy USDC to pre-deposit up to your target allocation (Stream 1 starts immediately)
• Acquire BulkSOL via Titan (Stream 2 starts immediately; BulkSOL AURA starts next Saturday)
• Retrieve referral code from Pre-Deposit Dashboard
• Begin outreach to institutional network for referrals (Stream 3 starts when first referral deposits)

Ongoing:

• Hold position through each weekly snapshot (Sunday → Sunday cycle, distributions every Saturday)
• Monitor AURA accumulation in Pre-Deposit Dashboard
• Continue referral outreach — each new referral adds permanently to weekly Stream 3 AURA

At mainnet:

• Pre-deposit converts to trading margin (Stream 1 capital activates for trading)
• BulkSOL continues earning exchange fees (Stream 2 compounds with volume)
• Referral mechanics post-mainnet TBD by protocol

Risk Disclaimer

AURA has no confirmed dollar value prior to TGE. BulkSOL yield rates are variable and depend on market conditions and BULK Exchange trading volume. The exchange fee stream (12.5% of fees) is only significant if BULK Exchange achieves substantial trading volume post-mainnet. Pre-deposit USDC is withdrawable before mainnet but converts to margin at mainnet. This is not financial or investment advice.

Start your institutional position → early.bulk.trade

Related:

• BULK Institutional Trading: The Full Playbook
• BULK AURA at Scale: What Large Pre-Deposits Actually Earn
• The Institutional Referral Playbook
• BulkSOL AURA Guide
• BulkSOL Hub