Bullbit Migrates to BullChain, Its Own Layer 1 for Trading

Bullbit, a decentralized perpetual futures exchange, launched the mainnet of BullChain, its own Layer 1 blockchain, on November 5, 2026, and moved its exchange from Base to the new network. The launch makes Bullbit the latest on-chain derivatives venue to leave a general-purpose network for a chain built around its own trading activity.

Bullbit launched officially in the second quarter of 2026 on Base, where it operated with off-chain order matching and on-chain settlement. The exchange reports more than $1.2 billion in cumulative trading volume and over 11,000 wallets created since launch. The mainnet launch also arrives on schedule in the fourth quarter of 2026, as set out in Bullbit’s published roadmap, delivering on a milestone the company had committed to its community.

Following the Wider Shift to Exchange-Specific Chains, With a Different Approach

Order book exchanges place unusual demands on a blockchain, with orders updated continuously and traders who need fast confirmations when prices move. On general-purpose networks, that activity competes for block space with unrelated applications, which has pushed several derivatives venues, including dYdX and Hyperliquid, toward chains built for their own trading. BullChain follows the same direction, built on Cosmos SDK with CometBFT consensus and with its capacity dedicated to Bullbit’s order book, while taking a different approach in several areas.

The main difference lies in how users access their accounts. Bullbit describes BullChain as the first passkey-native Layer 1. On most blockchains, signing in with Face ID or a fingerprint requires an extra layer of smart contracts built on top of the network, which adds cost and complexity to every transaction. BullChain builds that support into the network itself, so a signature made with a phone’s Face ID or fingerprint is recognized directly by the chain, without an intermediary contract.

Users can sign up with a passkey or connect an existing EVM wallet, and each account is identified by a Bull ID rather than a hexadecimal address. After logging in, traders approve a session key that can place and manage orders but cannot withdraw or transfer funds, and trading messages such as order placement and cancellation do not incur gas fees. Taken together, these features are designed to make on-chain trading accessible to users unfamiliar with crypto wallets, while their assets remain on-chain.

The network also reaches consensus on the sequence of orders rather than only on settlement. According to the BullChain whitepaper, the order book runs in memory and confirms matched orders without waiting for a block, while each order is recorded on-chain together with the trader’s signature. Because matching follows deterministic price-time priority, the team says anyone can replay the recorded orders to check the results, an approach that aims to pair centralized exchange execution with a verifiable record of how orders are processed.

Backed by a Proven Exchange and Real Users

Unlike networks that launch first and look for applications later, BullChain starts with an exchange that already has users and trading history. BullChain went through seven months of testing before mainnet, including five months of private testing and a public testnet that opened on September 3, 2026. As of October 26, the BullScan explorer recorded more than 88 million transactions from over 21,000 addresses on testnet.

“For years, trading on-chain has usually meant choosing between performance and transparency. BullChain is our answer to that trade-off: a chain designed around the order book, where every trade on Bullbit is recorded on a public ledger that anyone can verify,” said George Anthony, CEO of Bullbit.

According to Bullbit’s published roadmap, $BUBI is expected to become the native token of BullChain in the first half of 2027, alongside a transition to Proof of Stake and on-chain governance for token holders. How the network performs under live trading conditions in its first months will be the next measure of the dedicated-chain approach.