Bluefin

DeFi

Spot

<h4>One fast-growing DeFi protocol is making a bold claim. They say their UX and UI is so good, you won’t even know you are trading on-chain. That’s their tagline. And you can bet it’s a lot to live up to. But 42,000 customers and $40 billion in trading volume later, it looks like they are right. Plus, their token is only just getting started now. The protocol I’m talking about here is Bluefin. It’s Sui’s leading DeFi trading protocol and more.</h4> 
So let’s learn about what Bluefin does and what makes it different from other DeFi platforms. 
<h5>Intro to Bluefin</h5> 
Sui’s ecosystem is growing so fast right now. And in all areas but particularly in DeFi. <a href="https://www.altcoinbuzz.io/?s=sui" target="_blank" rel="noopener">Sui</a> already has some excellent <a href="https://www.altcoinbuzz.io/category/defi/" target="_blank" rel="noopener">DeFi</a> protocols like Deepbook and Suilend. So what do we need another for? 
Good question. 
Bluefin is bringing professional-style trading on-chain to Sui. You can trade spot or in perp markets. The 12 perp markets Bluefin offers right now are 
<ul> 
 <li>BTC, ETH, SOL, and Sui (naturally)</li> 
 <li>Arbitrum, Avalanche, Aptos, and Sei</li> 
 <li>and Polygon, Celestia, Deepbook, and Suilend (in pre-launch now).</li> 
</ul> 
This is a great list covering the biggest, most popular assets. Then covering top EVM, financial appchains, and Sui Network ecosystem projects. 
And Bluefin is already generating some nice volumes here like $58 million in the last 24 hours on ETH. That’s even more than the $55 million users traded in Bitcoin. 
<a href="https://trade.bluefin.io/ETH-PERP"><img decoding="async" class="aligncenter size-full wp-image-157518" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-185-3731.17-ETH-PERP-Trade-Ethereum-Perpetual-Futures-on-Bluefin-Ex_-trade.bluefin.io_.jpg" alt="" width="593" height="676" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-185-3731.17-ETH-PERP-Trade-Ethereum-Perpetual-Futures-on-Bluefin-Ex_-trade.bluefin.io_.jpg 593w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-185-3731.17-ETH-PERP-Trade-Ethereum-Perpetual-Futures-on-Bluefin-Ex_-trade.bluefin.io_-263x300.jpg 263w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-185-3731.17-ETH-PERP-Trade-Ethereum-Perpetual-Futures-on-Bluefin-Ex_-trade.bluefin.io_-368x420.jpg 368w" sizes="(max-width: 593px) 100vw, 593px"></a> 
The protocol is already very popular and will only get more popular as Sui grows and demand for the $BLUE token grows. The growing alliance between Sui and Solana across different apps and protocols will help future growth, too. Check out these numbers $37.5 billion in trading volume (now $40 billion) and over 42,000 users already. 
Bluefin sees its major competitors for perp trading as the CEXes like Binance, Coinbase, and OKX. And with a tagline that you won’t even know you are trading on-chain, you can see both who they think their competition is and how great the protocol works so far based on trading volume. 
<img decoding="async" class="aligncenter size-full wp-image-157520" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-186-The-BLUE-Token-Bluefin-Foundation-bluefin.io_.jpg" alt="" width="1184" height="451" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-186-The-BLUE-Token-Bluefin-Foundation-bluefin.io_.jpg 1184w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-186-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-300x114.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-186-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-1024x390.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-186-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-768x293.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-186-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-1103x420.jpg 1103w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-186-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-696x265.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-186-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-1068x407.jpg 1068w" sizes="(max-width: 1184px) 100vw, 1184px"> 
Bluefin also offers 2 attractive pools for users who want to provide liquidity and earn some yield. For the Spot market, they have concentrated pools where you can earn 128% on the <a href="https://trade.bluefin.io/deposit?poolAddress=0x3b585786b13af1d8ea067ab37101b6513a05d2f90cfe60e8b1d9e1b46a63c4fa" target="_blank" rel="noopener">Sui-USDC</a> pair. You probably have both of these coins anyway and this pool would be an incentive to keep HODLing. And for those wanting lower risk, the concentrated stable pool of USDT-USDT pays 12%. Hard to beat that in this market. Then for the perp market, there is one pool, the stablecoin pool. Here you will be able to deposit your stables and earn yield on them while providing liquidity for perp traders. So whether you want to trade or earn yield from the traders, you have a few different opportunities to earn on Bluefin. 
The roadmap for Bluefin is pretty extensive and bold. We will get to that in future articles to see how they are progressing on their quarterly goals. So far, they are hitting. 
<h5>The $BLUE Token TGE</h5> 
The $BLUE token just launched this week. 19.68% of the total 1 billion supply is set aside for the <a href="https://trade.bluefin.io/airdrop" target="_blank" rel="noopener">airdrop program</a>. That’s a pretty big number and a sign of how Bluefin respects its community and wants to reward them. 
<blockquote class="twitter-tweet"> 
 The Bluefin Foundation is thrilled to announce that the genesis of the BLUE token has been completed! 
 Bluefin was founded with a vision to accelerate on-chain trading. To date, the exchange has processed $40 billion in trading volume across spot and derivatives on <a href="https://twitter.com/SuiNetwork?ref_src=twsrc%5Etfw">@SuiNetwork</a>.… <a href="https://t.co/dBTJ1OYlZ2">pic.twitter.com/dBTJ1OYlZ2</a> 
 — Bluefin (@bluefinapp) <a href="https://twitter.com/bluefinapp/status/1866785411638419617?ref_src=twsrc%5Etfw">December 11, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>If you are using Bluefin or accumulated points and think you are eligible for the airdrop, you can check your eligibility <a href="https://trade.bluefin.io/airdrop" target="_blank" rel="noopener">here</a>. Now that the TGE has taken place, you can claim 
<ol> 
 <li>up to 50% now</li> 
 <li>with another 25% you can claim on January 11th</li> 
 <li>and the final 25% on February 11th, according to the <a href="https://bluefin.io/foundation/token" target="_blank" rel="noopener">claiming process</a> here from the Bluefin team.</li> 
</ol> 
<h6>Tokenomics</h6> 
The tokenomics for $BLUE start with 52% for Ecosystem Growth. That’s pretty good and it includes the 19.68% from the airdrop program. There are long vesting schedules from 2 to 5 years here, too. We also like to see that. No quick dumping of tokens here. You can read more on the tokenomics <a href="https://bluefin.io/foundation/token" target="_blank" rel="noopener">here</a>. 
<img decoding="async" class="aligncenter size-full wp-image-157531" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-187-The-BLUE-Token-Bluefin-Foundation-bluefin.io_.jpg" alt="" width="1920" height="911" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-187-The-BLUE-Token-Bluefin-Foundation-bluefin.io_.jpg 1920w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-187-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-300x142.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-187-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-1024x486.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-187-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-768x364.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-187-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-1536x729.jpg 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-187-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-885x420.jpg 885w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-187-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-696x330.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/FireShot-Capture-187-The-BLUE-Token-Bluefin-Foundation-bluefin.io_-1068x507.jpg 1068w" sizes="(max-width: 1920px) 100vw, 1920px"> 
$BLUE will be a governance token primarily. Especially now at the start. It’s clear Bluefin intends to use stablecoins and Sui as potential units of account for traders. Yet, $BLUE will be available in some of the concentrated pools. 
If you want to buy $BLUE, you can swap for it on Bluefin, which we recommend. Or you can check out the CEX options by buying at Gate.io (the most liquidity), Kucoin, HTX, or Hashkey. 
<a href="http://patreon.com/altcoinbuzz"><img decoding="async" class="alignnone size-full wp-image-123701" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1.jpg" alt="" width="1197" height="148" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1-1068x132.jpg 1068w" sizes="(max-width: 1197px) 100vw, 1197px"></a> 
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The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours. 
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The post <a href="https://www.altcoinbuzz.io/product-release/bluefin-brings-perp-trading-to-sui/">Bluefin Brings Perp Trading to Sui</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Bluefin Brings Perp Trading to Sui

Altcoin Buzz

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