The BULK Program was audited by Zellic, confirmed complete August 17, 2026, ahead of the September 5, 2026 mainnet launch. Here is the full security picture: the audit, the 5-of-8 multisig, the insurance fund, and what risk remains.
$39.5M USDC flowed into BULK's Season 1 pre-deposit vault before it closed at mainnet launch on September 5, 2026 — all verifiable on-chain. Mainnet is live and audited by Zellic. Here's what the data shows, what requires trust, and what the real risks actually are.
We pulled the top 2,000 of the BULK leaderboard going into the first weekly snapshot. Here is what $20.6M TVL, 7,520 depositors, and the full Aura rankings reveal that the dashboard does not show.
Hyperliquid distributed $8.7B to 94,000 wallets. The playbook that produced that outcome was not obvious at the time. Stealth seasons, anti-Sybil design, builder codes, no-VC structure — here is the full breakdown and where BULK maps to each piece (and the one place it diverges: BULK is VC-backed).
kdot just described BULK's endstate on Twitter: use your lend position as margin, trade undercollateralized options, hedge with perps. True portfolio margin across every instrument. This is the product roadmap most people are not pricing in.
BULK team member kdot laid out the AURA allocation criteria directly in Discord last night: early fund committers and mainnet traders get more. Two-step playbook confirmed by the source.
BULK's Genesis Phase waives maker fees entirely for the first 30 days of mainnet. Every day you trade after this window closes, you're paying a fee you could be paying zero on right now.
Mainnet is invite-only · Free code + referral link, no deposit required to look