Just yesterday, Walrus officially TGE with $140 million in financing. As a data storage protocol on the Sui chain, its small walrus coin $WAL was launched on the high-performance decentralized financial platform Bluefin in the SUI ecosystem for perpetual contracts and spot trading. Unfortunately, I missed the previous airdrop of the little walrus, but I recently noticed that the SUI ecosystem is indeed a treasure land. Therefore, I plan to conduct more trading actions on-chain in the future, which not only meets trading needs but also increases address activity, and who knows, there might be another unexpected airdrop someday. So after Walrus went live, I focused on Bluefin for trading, and they also have additional LP and trading rewards! Currently, the annualized rewards for LP are extremely high.
I carefully reviewed Bluefin's white paper and found that they updated the details regarding $WAL related activities. This is divided into two parts: LP and trading competition rewards + trading mining rewards:
https://learn.bluefin.io/bluefin/users/rewards/walrus-campaigns
If you received the $WAL airdrop and don’t want to sell it now, waiting for the first wave of airdrop selling pressure to end before selling, you can go to Bluefin to form an LP of WAL-USDC, with 266k WAL + 10k SUI + additional blue rewards, and an extremely high APR. The average annualized return over the past 24 hours has been over 2400%. Considering the high enthusiasm in the early stages of the TGE, now is a good opportunity for long-term holders to store LP for additional earnings.
Bluefin LP direct link: https://trade.bluefin.io/liquidity-pools
If your LP earnings or perpetual contract trading can enter the top 500 of their respective leaderboards, you can also share an additional reward of $25,000. I took a quick look, and the current LP earnings for the 300th place are only about $4. The event cycle is not very long, ending around April 10th, so if interested, you can really aim for the leaderboard rewards.
LP leaderboard (profit ranking): https://app.nexa.xyz/leaderboard/liquidity-positions
Bluefin should also be the only platform on the chain where $WAL contracts can be traded, with a maximum leverage of 5 times. If you want to boost trading volume, you can also use a spot + contract hedging method (it’s best to use two accounts to prevent risk control by the platform; you can decide whether to participate after checking the leaderboard a few days before the event ends). However, I would like to remind everyone of the corresponding risks. In the early stages of the TGE, there will be a large amount of trading turnover, so price fluctuations will be severe. Friends must manage risks well when conducting related transactions.
Perpetual contract trading leaderboard (trading volume ranking): https://app.nexa.xyz/leaderboard/perps-leaderboard
Bluefin has long provided rewards for trading mining, and this time, in addition to the existing trading mining rewards ($SUI and $Blue), the project team has additionally added $WAL and $SUI rewards for WAL-PERP trading, distributing walrus tokens (WAL) and SUI rewards to traders weekly.
Overall, the event has just begun, and it really is not competitive at all, so you can completely conduct trading on blockchain trading platforms like Bluefin, which can also activate wallets and receive more benefits.
