Introduction

Bluefin is a decentralized spot and derivatives trading platform on the Sui blockchain, revolutionizing the trading experience with the power of decentralized finance (DeFi).

Backed by prominent investors such as Polychain, SIG, Brevan Howard, and more, Bluefin has quickly emerged as the largest protocol on the Sui blockchain by total volume, with over $43B traded since its launch in September 2023.

Image : Bluefin Website

More Into Bluefin Products

Bluefin is redefining decentralized finance with a robust suite of products designed for diverse trading needs. Pro is a high-performance derivatives exchange offering both regulated and permissionless versions, set for full release in Q1 2025. Spot introduces a globally accessible spot trading platform with easy on-ramps and cross-chain liquidity, while the Aggregator ensures maximum price efficiency with instantaneous, sub-second transaction discovery and execution.

Additionally, Bluefin is developing an intuitive infrastructure to power a decentralized financial network, combining scalability and user-friendliness. With these innovative solutions, Bluefin aims to provide a seamless, efficient, and accessible experience for traders and investors worldwide.

Team Members and Investors

Co-Founder and CEO: Rabeel Jawaid
Rabeel Jawaid, the Co-Founder and CEO of Bluefin, holds a background in physics from the University of Pennsylvania. Before founding Bluefin, he conducted research at Gorte & Vohs, and his deep understanding of both technology and finance has driven the platform’s success.

• March 5, 2021: Secured pre-seed round investment, valuation unknown.
  Investors: Polychain, ParaFi Capital, Hypersphere Ventures, Mechanism Capital, CMS Holdings, PNYX Ventures, AU21 Capital, Calvin Liu, Meltem Demirors, Ricky Li.

• May 13, 2021: Secured $6.4M seed round investment, valuation $50M.
  Investors: DeFiance Capital, Three Arrows Capital, ParaFi Capital, Mechanism Capital, Bixin Ventures, IOSG Ventures, Hypersphere Ventures, Polychain, Fenbushi Capital, HTX Ventures, Alliance DAO, CMS Holdings, Wintermute, Long Hash Ventures, mgnr, Altonomy, PNYX Ventures, Magic Ventures, Alameda Research.

• June 27, 2024: Amount undisclosed, valuation unknown.
  Investor: Flow Traders.

$BLUE Token Usage

$BLUE is the native token of the Bluefin ecosystem and plays a critical role in the platform’s governance and operations. Here’s how the token is used:

• Governance: Token holders have the power to vote on key decisions affecting the Bluefin protocol.
• Insurance Fund Staking: Users can stake $BLUE to provide liquidity support for Bluefin’s risk engine.
• Rewards: $BLUE is used to incentivize liquidity, referrals, and organic trading activities.
• Fees: Token holders enjoy reduced trading fees on exchanges.

Once users purchase $BLUE, they can transition to the Sui blockchain, participate in governance and staking, enjoy fee discounts, revenue sharing, and more.

Bluefin’s Vision

Bluefin started by offering decentralized derivatives trading, but its mission is far broader. The platform aims to redefine decentralized finance by making it more user-friendly and sustainable. With a vision to become the decentralized finance equivalent of the NYSE, Bluefin is setting the stage for a grander future.

As of today, Bluefin has achieved over $43B in total volume and is seeing $168M in daily trading volume, with 70K trades per day.

$BLUE Tokenomics and Market Stats

• Ticker: $BLUE
• Token Type: SUI
• Max Supply: 1,000,000,000
• Circulating Supply at TGE: 78,800,000
• Circulating Percentage at TGE: 7.88%
• Public Sale Price: $0.18

Token Allocation:

• User Incentives: 32.5%, 60-month linear unlock
• Protocol Development: 8.5%, 24-month linear unlock (33.33% unlocked at TGE)
• Treasury: 6.5%, 36-month linear unlock (3-month lock-up)
• Liquidity Reserves: 4.5%, 100% unlocked at TGE
• Strategic Participants: 28%, 24-month linear unlock (12-month lock-up)
• Core Contributors: 20%, 24-month linear unlock (12-month lock-up)

Market Stats

• Market Cap: $52.86M
• Circulating Supply: 124.74M BLUE
• Issue Price: $0.18
• All-Time High: $0.8694 (Dec 15, 2024)
• All-Time Low: $0.14509 (Dec 11, 2024)
• Max Supply: 1.00B BLUE
• Fully Diluted Market Cap: $423.76M
• Total Supply: 1.00B BLUE
• Market Cap/Total Supply: 12.47%
• Number of Holding Addresses: 10.96K

(All data recorded as at today, 31st December 2024)

$BLUE Token LP is Now Live on NAVI Protocol

Following the recent TGE, the $BLUE token is now integrated into NAVI Protocol’s liquidity pools. Users can supply, borrow, and collateralize $BLUE, maximizing capital efficiency across the entire Sui DeFi ecosystem.

How to Buy $BLUE Tokens

To purchase $BLUE tokens and participate in the Bluefin ecosystem, follow these simple steps:

1. Choose an Exchange: $BLUE is available on top exchanges like Gate.io, and Uniswap.
2. Create an Account: Sign up and complete any required KYC verification on the exchange.
3. Deposit Funds: Add funds via crypto or fiat currency.
4. Find $BLUE: Search for the $BLUE trading pair (e.g., $BLUE/USDT or $BLUE/BTC).
5. Make Your Purchase: Place a buy order using a market or limit order.
6. Secure Your Tokens: After purchasing, transfer your $BLUE tokens to a secure wallet for safekeeping.

Conclusion

Bluefin’s $BLUE token is revolutionizing decentralized finance on the Sui blockchain. By offering decentralized spot and derivatives trading, governance opportunities, and rewarding staking, Bluefin is paving the way for a more user-friendly, scalable, and secure DeFi ecosystem.

As it continues to grow, Bluefin aims to become the gold standard for decentralized finance platforms, with its sights set on becoming the NYSE of the DeFi world. Embrace the future of trading with Bluefin and $BLUE.