Bullbit says its BullChain mainnet is now operational after the decentralized derivatives platform migrated from Base to a dedicated Layer 1 blockchain designed for trading.
The exchange’s November 5 launch announcement says trading, deposits and withdrawals have reopened, with existing user balances and account information carried over. This is a company-reported operational update; independent network performance and reliability under sustained mainnet use remain to be demonstrated.
New Layer 1 Uses Cosmos SDK Infrastructure
BullChain is built using the Cosmos market price and chart SDK and is intended to allocate its block space to trading rather than hosting a broad variety of unrelated applications. Bullbit says this design can provide more predictable execution for derivatives orders.
The company claims a 500-millisecond block interval and capacity for up to 10,000 transactions per second. Those figures describe stated design capabilities, not independently verified sustained production throughput.
Bullbit also reports more than $1.2 billion in historical exchange trading volume, seven months of testing and over 88 million testnet transactions. These totals come from the project and should not be confused with audited revenue or trading activity recorded on the new mainnet.
Passkeys Replace Conventional Wallet Setup for New Users
A core feature of BullChain is native support for secp256r1 signatures commonly associated with device-based passkeys. The project says users can authenticate through supported biometric or device-PIN systems without relying on a separate seed phrase during account creation.
Under its design, an account can authorize multiple keys and can be associated with a readable Bull ID. Session keys are used for placing or adjusting trading orders, while withdrawals and account-key changes require stronger permissions.
Such controls can reduce some signing friction but cannot eliminate trading losses, compromised devices, malicious applications or weaknesses in software and bridge integrations.
Deposits and Withdrawals Move Through BullChain Bridge
The project says its bridge supports 
USDC market price and chart on Base and 
USDT market price and chart on 
BNB market price and chart Smart Chain, with deposited balances credited to the user’s smart-wallet account. Users must separately move funds into the perpetual-trading balance before opening positions.
Bullbit has warned that old API keys do not carry over and that users need to create new ones. Existing copy-trading portfolios may also need to be recreated under the updated account system.
The announcement describes an operational mainnet launch, but the published article still contains placeholders for a block-explorer URL and whitepaper link. That limits how much independent technical verification readers can conduct directly from the notice.
Mainnet Launch Does Not Eliminate Derivatives Risk
Perpetual contracts expose users to leverage, funding costs, liquidation and smart-contract or network disruptions. Faster block production does not make leveraged trading inherently safer.
Bullbit’s earlier migration notice said balances and fee-tier history would carry across from Base, with scheduled service changes during November 4โ5.
BlockBriefing has also covered regulated perpetual-futures products in the United States, which operate under a different legal and market structure.
The relevant next checks for BullChain are independently observable mainnet activity, bridge reliability, security assessments and trading volumes after migration. Its November 5 announcement establishes a reported service launch, not a guarantee of technical performance.
