Bluefin is a decentralized derivatives trading platform. This project was established relatively early, in 2020.#arbitrumwas launched in 2023, and then it turned to the#SUIecosystem in October.
#Bluefin saw a rapid growth in data after switching from arbitrum to sui.
It can be seen on the official website that the historical transaction volume has reached 28 billion US dollars, the daily transaction volume is 166 million, the daily transaction volume is 390,000, and the TVL of the entire protocol is 27 million US dollars. The total TVL of the Sui chain is currently 650 million. Bluefin ranks ninth and is the only decentralized derivatives exchange in the top ten. It can also be regarded as a leading project in the Sui ecosystem.
Financing Background
So far, three financing rounds have been disclosed, with a total amount of US$29.2 million, led by Polychain, Defiance Capital, and Three Arrows Capital.
There are also many star investors in the follow-up investment institutions, such as IOSG, Fenbushi, BH Digital, etc. The endorsement is very strong, and it is a very good project in terms of fundamentals.
Let’s talk about the project’s trading and mining activities
When we conduct contract transactions, we have to pay two fees, one is the funding rate, and the other is the transaction fee, so these two fees constitute the cost of our transaction mining.
In essence, transaction mining is using the transaction fees paid in exchange for future token airdrops.
The leverage ratio of Bluefin can only be set to 20, but after experiencing it, its transaction response speed is really beyond my imagination. For a decentralized exchange on the chain, the optimization is really possible and it is very comfortable to use.
To trade on it, you need USDC on the Sui chain. The most convenient way is to buy Sui on the exchange, then transfer it to the wallet on the Sui chain, swap it on Cetus, and convert Sui into USDC.
There are three types of rewards for trading mining activities
The first type of points, empowerment, is the ability to obtain token airdrops in the future, but there is currently no redemption ratio.
The second way is to directly obtain BLUE and SUI through trading. Settlement is done weekly. The higher the trading volume, the higher the level and the more tokens you get. Roughly speaking, for a low-security account, the trading wear and tear is between 30,000 and 50,000. The trading volume must reach 100,000
The cost is about $35. If you are interested, you can go and trade it.
BLUE has been listed on ALEO's pre-market trading market, with a price of around 0.4. According to news in the official community, the launch of the official token blue will be carried out at the end of June or early July, so if you want to participate, the time is a little tight, but it is enough.
