What is Bluefin?

(Source: bluefin)

Bluefin is an order book-based decentralized exchange (DEX) designed for both professional traders and beginners, dedicated to redefining the possibilities of on-chain trading with ultimate user experience, security, and transparency. Bluefin is backed by top institutions such as Polychain, SIG, Brevan Howard Digital, Tower Research, endorsing and investing in the project. Bluefin is not just a trading platform, but also the core of a DeFi ecosystem integrating various innovative protocols and products.

The core features of Bluefin

One of the biggest highlights of Bluefin is its extremely fast start-up speed and simplified operation process. Through cooperation with the Sui protocol from the Facebook team, Bluefin achieves a second-level account opening and trading experience, reducing the threshold for on-chain operations. For users accustomed to operating on centralized exchanges (CEX), it is a seamless transition bridge. In Bluefin, users can freely switch between two core modes according to their trading needs: spot trading and perpetual trading.

Spot trading: Wallet direct connection, flexible liquidity provision

• Instant settlement, funds credited upon completion of the transaction.
• Using the CLMM (Concentrated Liquidity Market Maker) pool to provide more efficient capital utilization and low slippage trading experience.
• No need for additional deposits, just connect your wallet to trade and provide liquidity.

Futures trading: high leverage operation, designed for advanced traders

• Supports up to 20x leverage, suitable for strategic trading and swing trading.
• Currently, only Wormhole USDC is accepted as margin, and the integration of native USDC is in progress.
• Contract accounts are independent of wallet funds and require separate deposit operations.

CLMM Liquidity Mechanism

Bluefin’s CLMM is a deep upgrade to the AMM model, allowing users to concentrate liquidity provision within a specific price range, maximizing potential returns and trading efficiency. The core advantages of CLMM:

• Capital efficiency improvement: Concentrate funds on assets with price expectations to significantly increase liquidity utilization.
• Reduced slippage: Increased liquidity leads to less impact from price fluctuations.
• Platform Integration: Integration of CLMM and Bluefin derivative platforms to create a complete trading system.
• Liquidity mining rewards: Providing BLUE, SUI, and even more tokens as mining rewards, the incentives are sufficient.

BluefinX

(Source: bluefin)

BluefinX is the latest product launched by Bluefin, which combines the RFQ (Request for Quote) mechanism with a trustless execution agent system to create a frictionless trading path. Its operation process is as follows:

1. Users input the assets and quantities they want to exchange.
2. The BluefinX API broadcasts requests to multiple executing agents.
3. After the agent quotes, the system automatically selects the best price.
4. Users can see the final price in the UI instantly, with a quote validity of 10 seconds.
5. After confirming the transaction and signing, the assets are directly transferred from the smart contract treasury held by the agent.

(Source: bluefin)

Key Features

• No slipping price: the price quoted in advance locks in the final result.
• No Gas Fee: BluefinX Quote does not charge Gas.
• MEV Protection: Avoid on-chain sequencing attacks.
• Lower cost, faster execution.

This means that BluefinX will become one of the most efficient and cost-effective swap solutions in the Sui ecosystem.

Bluefin’s token economics

Bluefin’s native token is BLUE, with roles spanning across platform governance, liquidity incentives, trading fee discounts, product usage rights, and more, serving as the core fuel for ecosystem operation. Total supply: 1 billion tokens, with initial circulating supply of around 150 million tokens (at TGE). Below are the main allocation and release strategies for BLUE:

52.0% - Ecological development and community incentives (full unlock requires 5 years)

• 32.5% user rewards: 19.68% for airdrops (partially unlocked at TGE, unclaimed will return to the treasury), the rest is for trading and liquidity incentives
• 8.5% protocol development: one-third unlocked at TGE, the remaining unlocked over 2 years for contract development, security audits, listing, and strategic partnerships.
• 6.5% Treasury Funds: Starting in 3 months, linear unlocking over 36 months, managed by Bluefin DAO, used for ecological expenditures and resource allocation
• 4.5% Liquidity Reserve: TGE instant unlock, for CEX and DEX initial liquidity deployment

28.0% — Strategic Investors

• Including early private placements and advisors, lock-up for 1 year, followed by linear unlocking for 24 months, no initial release of TGE, strengthening long-term commitment and consensus

20.0% - Core Contributor

• Development, operation, and infrastructure teams, also adopt 1-year lock-up + 24-month linear unlock

(Source: bluefin)

Bluefin’s token allocation prioritizes users, with more than half of the resources invested in ecological rewards and community support, while ensuring long-term success for the team and investors.

Token Usage

• Governance Voting Power (DAO)
• Fee deduction and rewards
• Liquidity mining and ecosystem rewards
• Protocol function unlocking or staking conditions

When designing the economic model of BLUE, Bluefin clearly focuses on long-term incentives and fair participation, avoiding short-term speculation and excessive concentration of resources.

Start BLUE spot trading now:https://www.gate.com/trade/BLUE_USDT

Summary

Bluefin is not just another DEX, but a representative of the evolution of on-chain trading experience, from the powerful CLMM mechanism, flexible trading account design, to the innovative BluefinX mechanism, combined with the long-term design of the BLUE token economy, everything is moving towards becoming a truly professional and user-friendly on-chain exchange. In a Web3 world where liquidity is fragmented and user experience is difficult to break through, Bluefin is trying to forge a new path.