译文/Translated：
我们高兴地宣布今天（7月27日），我们启动了为期七周的内测，这是我们朝年底公开启动Bullish交易所迈出的巨大的一步。本次内测包含模拟加密资产和现金，它让我们能够从参与者中获得重要的反馈和意见，让我们在正式启动的时候能给我们的客户提供流畅的体验。
本次测试邀请了（满足一定要求的）个人和机构投资者，让他们体验Bullish交易界面和我们特有的混合订单簿。参与者使用各功能和服务，包括现货交易、保证金交易以及全新的通过Bullish流量池赚钱模块等。虽然试用版不涉及功能门控，也不要求在这个阶段就完全启用，但是产品功能、交易所操作、客户支持都将模拟正式启动时的环境。
为了鼓励大家参与和反馈，我们将为完成特色纸币交易游戏的合格的参与者颁发共计525,000美元的现金奖励。每个游戏会有175,000美元的奖金，最高奖为100,000美元。二等奖和三等奖将分别获得50,000美元和25,000美元的奖励。如果某个获奖者不具备资格，我们会把奖金捐赠给慈善机构。
内测仅对受邀的用户开放，预期测试时间为2021年7月27日到2021年9月13日。
以下是Bullish与众不同的地方：
- 深度、可预测、大流量：Bullish有独特混合订单簿和流动性配置差异性大，这两个特点把流量池能和传统的限额指令结合起来。Bullish的设计要点是要提供深度、可预期的流动性，交易者在变幻莫测的市场环境下，交易者可以获得更大的确定性。
- 规模化收益：Bullish流量池让用户能大规模管理平衡的资产组合，同时因为向市场投入高质量的流量获得收益。这些流量池将进行优化，让用户能从自动做市、现货交易、安全保证金贷款中获得收益。
- 现在Bullish资产负债表上有几十亿美金，我们将把其中的一大部分放到Bullish流量池中，进一步加强平台的产品供应
- 安全、合规、和可验证：Bullish将是一个合规的交易所，把加密货币最好的安全防护和合法合规实践结合起来。Bullish将利用EOSIO安全运行，同时把所有经济动作的不可转换记录上传到平台中。这个审计链的加密证明会记录到EOS公共区块链，方便实现外部可验证状态的完整性，这也是第一次有交易所这么设计。
我们很高兴能和您开始这个发现和发展的时期。对参与内测的用户，请好好试、好好玩，但也注意这毕竟是测试版，所以也可能会遇到一些问题和维护期。
访问Bullish申请参与内测。
原文/Original：
We are excited to announce that today – July 27 – we are launching a 7-week, private pilot program, a major step towards the public release of the Bullish exchange expected later in 2021. 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 offers 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 have access to features and services including spot trading, margin trading and new and unique ways to earn through Bullish Liquidity Pools. While the 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.
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 open for testing to invited users where permitted, and is expected to run from July 27, 2021 through September 13, 2021.
Here’s what we believe will set Bullish 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 plans 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.
- 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. 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.
We are excited to start this period of discovery and advancement with you. For invited participants, test it, enjoy it, and remember that it is still a pilot, so you may encounter some bugs and maintenance periods.
Visit Bullish to sign up to the waitlist.
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