Bullish, a Tech Firm Focused on Creating Financial Services for Digital Assets, Announces Launch of Private Pilot for its Exchange

The team at Bullish, a tech firm focused on creating financial services for the digital assets sector (which has revealed its plans to go public on NYSE via a merger with Far Peak Acquisition Corporation (NYSE: FPAC)), says they are pleased to confirm that they’re launching a 7-week, private pilot program (starting July 27, 2021), which is considered a major step towards the public release of the Bullish exchange “expected later in 2021.”

As mentioned in an update shared with Crowdfund Insider:

“With simulated crypto assets and paper money, the private pilot provides us with an opportunity to source valuable feedback and input from select participants to facilitate a frictionless experience for our customers at launch.”

The pilot aims to provide a sampling of invited retail and institutional investors (who “meet specific requirements”) the opportunity “to experience the Bullish trading interface and our proprietary Hybrid Order Book.”

Pilot participants will be able to access features and services such as spot trading, margin trading and new and unique ways “to earn through Bullish Liquidity Pools.”

Although this pilot will not involve “feature gating” nor require a “full onboarding” in this early phase, product functionality, exchange operation, and customer support “will mimic conditions for the full launch,” the announcement clarified.

As noted in the release:

“To encourage participation and feedback, we’re awarding a total of US$525,000 in cash prizes for three eligible participants who compete in the featured paper trading games. Each game will have a US$175,000 pot, with a top prize of US$100,000. The 2nd and 3rd place winners will be awarded US$50,000 and US$25,000, respectively. If a winner is ineligible, we will donate the prize money to charity.”

The private pilot is currently open for testing “to invited users where permitted, and is expected to run from July 27, 2021 through September 13, 2021.”

Here’s what the team at Bullish believes will set them apart:

  • Deep, predictable liquidity: Bullish’s proprietary Hybrid Order Book with a highly differentiated liquidity profile will bring liquidity pools together with traditional limit orders, all in one place. Designed to offer deep and predictable liquidity, Bullish will provide traders with greater certainty across highly variable market conditions.
  • Earning at scale: Bullish Liquidity Pools allow users to manage balanced portfolios at scale and earn revenue for delivering high-quality liquidity to the market. These pools will be optimized to earn yield, generated from automated market making, spot trading, and safe margin lending.

Bullish intends to deploy a large portion of its multi-billion dollar treasury of balance sheet assets into Bullish liquidity pools “to further strengthen the product offering of the platform.”

Some other features that set Bullish apart are that it’s secure, compliant, verifiable: Bullish is expected “to be a regulated exchange, integrating best practices in cryptographic safeguards and compliance standards.”

Bullish will use EOSIO “to securely execute and immutably record all financial movements on the platform,” the announcement explained while adding that cryptographic proof of this audit trail will be “cross-hashed to the EOS public blockchain to facilitate externally verifiable state integrity – a first for exchange design.”

The release also mentioned that the Bullish team is pleased “to start this period of discovery and advancement with you.”

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