Bullet as Solana's answer to Hyperliquid and room for multiple DEX winners
Quote150 words
Market since$ZEX−99.0%since this pieceHow it played out ↓Describes Bullet as a hybrid rollup with ZK fraud proofs and settlement on Solana, with a purpose-built runtime and a CLOB at 2-3ms latency. Argues Hyperliquid stays king but, as DEXes eat CEXes, there will be more than one winner.
Key claims
ZEX up 129% in 24h at the time
CLOB delivers 2-3ms latency and thousands of TPS
Bullet (ticker is $ZEX) now up 129% in 24h
Solana network extension, or more specifically a hybrid rollup relying on ZK fraud proofs with settlement, consensus & DA on Solana L1.
Built with the @sovereign_labs SDK, @bulletxyz is running its own purpose-built, high-performance runtime, powering a CLOB that delivers 2-3ms latency and thousands of TPS.
Solana rollups are real (imo even Solana's next frontier), and there is some highly performant, app-specific trading systems in the pipeline that could make for some proper competition in the DEX game again.
HL will probs always remain king imo, but as DEXes eat CEXes, there will likely be more than one winner (look at how many CEXes there are).
Think there is some cool projects emerging on Solana, on @celestia, but also on @megaeth and beyond, that have potential.
Def a vertical worth watching with some asymmetric opportunities that might arise along the way.
QUOTING @zerokn0wledge_
The CLOB wars are in full swing and @bulletxyz is catching some serious bids rn (up 86% in 24h). Building a @solana network extension (an optimistic rollup relying on ZK fraud proofs) specifically designed for on-chain trading, and with CLOB infra that delivers thousands of TPS
The CLOB wars are in full swing and @bulletxyz is catching some serious bids rn (up 86% in 24h). Building a @solana network extension (an optimistic rollup relying on ZK fraud proofs) specifically designed for on-chain trading, and with CLOB infra that delivers thousands of TPS
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How the covered assets moved · since 11 Jun 2025
Prices as of 23 Oct 2026This piece lays out a thesis on the sector without making a call on the token, so price moves since publication are shown as market context.
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Zero has written 5 more pieces on $ZEX since this one.
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- Bullet: Solana's onchain Nasdaq with 1ms latency, TL;DR of A1 articleCovers $ZEX
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish thesis is read as a call; explainers, maps and mentions are context. Not financial advice.