BULK unveils a SPAN-inspired portfolio margin engine that cuts collateral needs by up to 69%, bringing CEX-grade risk management fully onchain for DeFi traders

Basis desks and market makers get the biggest boost: the article’s $200K BTC/ETH hedge drops from $4,005 to $1,234 of margin, raising gross-notional capacity from about $50 to $162 per margin dollar. That leverage piles venue risk into ρ and exit liquidity, while BULK’s published lambda process limits cascade adjustment to two rounds.

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