Bullpen is a multi-chain trading terminal that consolidates crypto trading across Solana and Hyperliquid into a single interface, co-founded by the crypto figure known as Ansem. The platform runs an active points program tied to trading activity, and users also have a separate, already-live opportunity to claim the $coupHYPE token tied to UltraSolid‘s upcoming funding round.
Status: Active (points program in Season 3, $coupHYPE claim live, trading competition running)
Token confirmed: No, the BULL points program is unconfirmed as a token, though the platform has acquired the $BULL ticker on Hyperliquid
Points pool: 100 million total, approximately 30.1 million burned, roughly 70 million remaining
Backers: 6thman Ventures, Delphi Digital, Manifold Trading, Spartan Group, with angel investment from Solana co-founders Anatoly Yakovenko and Raj Gokal, Guy Young, and Balaji Srinivasan
TGE date: Not announced
Bullpen lets users trade Solana memecoins and Hyperliquid’s perpetual and spot markets from a single interface, moving between markets without manually bridging assets across platforms. The project’s acquisition of the $BULL ticker on Hyperliquid and its ongoing points program suggest preparation for a future token, though nothing has been officially confirmed.
For context on how Bullpen fits within the broader trading landscape, our list of decentralized exchanges covers the broader landscape it competes in.
Am I Eligible for the Bullpen Airdrop?
There is no formal eligibility for the BULL points program because no token has been confirmed. Anyone who trades on the platform automatically accumulates points based on trading volume, social activity through a connected X account, competition performance, and referred trading volume. Early and consistent activity typically earns a larger share in points-based systems. If you are new to how a platform like Bullpen differs from a traditional centralized exchange, our guide on centralized versus decentralized exchanges covers the key differences.
Additionally, the separate $coupHYPE token claim has specific eligibility tied to a snapshot taken on October 31, 2025. To qualify, you needed a connected X account on Bullpen and active participation across Solana and Hyperliquid networks at the time of the snapshot. Check your eligibility directly through Bullpen’s official airdrop checker rather than assuming you qualify.
How to Participate in the Bullpen Airdrop
Earning BULL points:
- Go to Bullpen’s login page and create an account using Google sign-in.
- Click the “Fund” button in the top right of the interface. Bullpen accepts SOL or USDC on Solana, USDC on Arbitrum, and USDC on Core or other supported EVM chains.
- If you do not already hold these assets, buy SOL or USDC on an exchange, then bridge USDC to your chain of choice using a cross-chain bridge if needed.
- Select your wallet and chain, then complete the deposit. The platform walks you through the connection process.
- Start trading. Bullpen supports Solana meme coins, Hyperliquid perpetuals with leverage, and Hyperliquid spot markets without leverage. You can move between meme coin trading and perpetual futures with one click.
- Open the Affiliate section in your dashboard to create a custom referral link. You earn 50% of the trading commission generated by anyone who signs up through your link.
- Points accrue automatically as you trade and engage with the platform. There is no separate claiming step. Check your current balance in your portfolio.
Claiming the $coupHYPE token:
- Export your primary Bullpen EVM wallet address.
- Visit UltraSolid’s official airdrop checker.
- Connect your wallet to verify your allocation status based on the October 31 snapshot.
Participating in the 1K to 100K trading competition:
- Fund at least $1,000 in your Bullpen wallet using USDC.
- Link your X account to your Bullpen profile.
- Register on the leaderboard through the official competition page.
- Trade Hyperliquid perpetuals for the one-month competition window. The prize pool scales from $25,000 to $100,000 as more traders join, and the weekly leaderboard is tracked live on MarketBubble.
- Optionally, refer one trader to the competition. If your referral finishes in the top 20 of the leaderboard, you receive $500, with no trading required on your part.
Risks In Participating in the Bullpen Airdrop
Bullpen involves real trading with leverage available, which carries more risk than free task-based airdrop farming. Here is what to weigh before funding an account.
No Token Is Confirmed for the Points Program
Bullpen has not announced an official $BULL token or airdrop date. The acquisition of the $BULL ticker and the ongoing points program are signals, not commitments. Treat this point accumulation as speculative positioning, and not a guaranteed future reward.
Leverage on Hyperliquid Perpetuals Carries Real Risk
Hyperliquid perpetual futures allow leveraged positions, and leveraged trading can produce losses that exceed your deposit if the price shifts against you. If you want exposure without leverage risk, Bullpen supports Solana token trading and Hyperliquid spot markets, both of which do not involve borrowed capital.
This Airdrop Guide Requires Real Capital
Earning meaningful points requires trading volume, which means depositing and risking real money. The trading competition requires a minimum deposit of $1,000 to participate directly. Only commit capital you can afford to lose.
$coupHYPE Depends on a Third-Party Funding Round
The $coupHYPE token provides allocation to Ultrasolid’s upcoming community funding round, meaning its value depends on the outcome of a separate project rather than on Bullpen itself. Treat this as a distinct, smaller opportunity (like a sidequest) rather than the main reason to use the platform.
Frequently Asked Questions
Need a refresher? Here are the questions most readers ask about the Bullpen airdrop before getting started.
When will the BULL token airdrop happen?
Bullpen has not announced an official airdrop date for the $BULL token. The team has stated it is prioritizing product development. Following Bullpen’s official X account and Discord is the best way to stay updated on any distribution timeline.
How are Bullpen points calculated?
Points accumulate based on trading volume across Solana and Hyperliquid markets, referred trading volume from your affiliate link, and social activity through a connected X account. Weekly distributions in Season 3 reward consistent activity over time rather than one-time high-volume trading.
What is the $coupHYPE token and how do I claim it?
$coupHYPE is a token that gives Bullpen users free allocation to UltraSolid’s community funding round. Eligibility is based on a snapshot taken on October 31, which requires a connected X account and active participation on Solana and Hyperliquid at that time. You can check your eligibility through Bullpen’s official airdrop checker.
Can I use Bullpen without trading with leverage?
Yes. Bullpen supports both leveraged Hyperliquid perpetuals and non-leveraged options, including Solana token trading and Hyperliquid spot markets. If you want to avoid leverage risk entirely, stick to those two categories.
Is there a minimum deposit to use Bullpen?
Bullpen does not specify an official minimum deposit, though you need enough capital to cover trading fees and execute meaningful trades. Starting with $50-$100 in USDC or SOL is a reasonable amount for active participation. The trading competition specifically requires a $1,000 deposit to register.
