Built for the
next era of
on-chain trading.
Mullet Labs is a lean team of former Wall Street traders, Solana core contributors and crypto veterans. We believe the efficiency of traditional finance and the transparency of decentralisation were never meant to be an either/or — on-chain TradFi is the best meeting point this era has given us.
Bringing trading back to what mattersTrading. As It Should Be.
By 2024 the crypto market had been through a full cycle. We watched FTX blow up, Terra collapse and CeFi suffer one crisis of trust after another. Yet DeFi hadn't gone mainstream either — the experience barrier scared off 99% of potential users.
The problem isn't blockchain, it's the product. We decided to build something where the benefits of being on-chain no longer come at the user's expense.
Four principles we won't compromise on
The platform holds no "switch behind the curtain": every forced close and every position settlement can be verified on Solscan.
We don't run a B-Book and never act as your counterparty. Orders are filled off-chain by the trading engine and every result is settled on-chain, with the platform earning only the fees disclosed up front.
Settlement speed, market data latency, order confirmation — we only ship once each of them matches the standard of a top centralised exchange.
Leverage is a tool, not bait. Every leverage ratio, liquidation price and maximum loss is shown before you place an order.
From an idea to mainnetIdea to Mainnet — Fifteen Months.
Team founded
Mullet Labs was registered in Dubai. The founding team came from Jane Street, Solana Labs and Coinbase.
Seed round
Closed an $8M seed round co-led by Multicoin, Jump Crypto and the Solana Foundation.
Testnet
The internal testnet went live, with 30+ invited market makers in liquidity testing.
Audits completed
Audits by several independent security firms were completed and the public bug bounty launched.
Mainnet launch
The Mullet mainnet went live with crypto pairs and the first version of the custodial wallet.