Bluefin is a decentralized orderbook exchange built on the Sui network that lets users trade crypto perpetual swaps. The exchange claims to have captured over 70% market share for perpetual trading on Sui and reports more than $25 billion in trading volume year-to-date and monthly revenues exceeding $1 million. Bluefin plans to launch a governance token, BLUE, in July with incentives such as airdrops, trading rewards and liquidity programs. It intends to use funding proceeds to expand beyond perpetuals into a broader decentralized financial ecosystem, including a spot aggregator and a "Bluefin Pro" product offering cross-margin trading and faster executions. The BLUE token will have a maximum supply of 1 billion, an initial circulating supply of 116 million, and allocates 32.5% of tokens to user incentives; investor and team allocations have a three-year vesting schedule with a one-year lockup after rollout.

Total raised

$17M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2024