After raising a total of 17 million USD from prominent investors, the DEX on Sui , Bluefin, plans to launch the BLUE Governance Token this coming July.
Bluefin DEX is preparing to launch the BLUE Token in July
Decentralized exchange platform Bluefin is set to launch Governance Token in July, after raising a total of $17 million from funds Brevan Howard Digital, Tower Research, Cumberland DRW and Susquehanna International Group.
Introducing BLUE, by the Bluefin Foundation.
— Bluefin (@bluefinapp) June 27, 2024
Read more: https://t.co/cgDTthF7Aq pic.twitter.com/MWrG7zqL9j
This Sui DEX also recently received an undisclosed investment from Flow Traders. The team said it will use the proceeds to expand services and develop its decentralized financial ecosystem.
Happy to be supporting @bluefinapp ✌️ https://t.co/lEhKtKug0Q
— Flow Traders (@FlowTraders) June 27, 2024
The Bluefin protocol has processed more than $25 billion in volume since the beginning of this year, with a monthly turnover of more than $1 million.
Bluefin claims to be the leading Derivative exchange in the Sui ecosystem and holds more than 70% market share with its perpetual contract trading products.
Source: Bluefin
The upcoming BLUE Token will help strengthen community governance and incentivize users and contributors to the ecosystem.
Zabi Mohebzada, co-founder of Bluefin, Chia :
“Our vision is to accelerate the adoption of decentralized finance by bringing to the market a sustainable, robust and user-friendly exchange.”
According to tokenomics, BLUE has a Max Supply of 1 billion and an initial circulating supply of 116 million Token. Of which 32.5% of Token are allocated to users through Airdrop, trading rewards, liquidation provision, and other incentive programs.
Bluefin's BLUE Token distribution
In the next development roadmap, Bluefin plans to build a general tool for Spot Trading and Bluefin Pro supports Cross Margin trading, performing faster order matching.
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