Author: Biteye

Finally, we have the alt season! The last alt season lasted 88 days, and this time we have just started a fruitful week. Bitcoin fell back sharply last Friday, and alts were unexpectedly strong. If this is not the alt season, what is it? Everything familiar is back, and everything may have just begun.

After Hyperliquid TGE, the price of the coin has continued to rise and exceeded 10 billion US dollars. Sui, as the strongest public chain coin after Solana, has repeatedly hit new highs. Hyperliquid @bluefinapp on Sui chose the right time and place to hold TGE at this time. Here's why Bluefin is worth paying attention to and how to participate now.

1. Business Introduction

Bluefin is a decentralized exchange that focuses on contracts and spot, providing a high-performance trading experience. Bluefin contract trading accounts for more than 85% of the Sui ecosystem market, and also supports pre-market and contract trading of Sui ecosystem projects. Spot automated market maker trading has reached a trading volume of US$130 million just two weeks after its launch. In addition, Bluefin has built a complete set of meme infrastructure, aiming to become the meme trading center of the Sui ecosystem. So far, Bluefin integrates contracts, aggregators, and liquidity pools, and has formed a one-stop on-chain exchange layout that combines on-chain market making and RWA narratives. Since its launch in September 2023, the total trading volume has exceeded US$38 billion, with more than 72,000 users and US$32.54 million in TVL (total locked value).

II. Fundamentals

Bluefin was created by a European and American team, and its founders have backgrounds in prestigious universities such as the University of Pennsylvania and Berkeley. It has received support from top institutions such as Polychain, Brevan Howard, SIG, Tower Research, and Wintermute. It has not had any security incidents in the past three years, is equipped with full-time internal security engineers, and has cooperated with four top security companies (Trail of Bits, PeckShield, Halborn, and Halborn).

Token Economics

52% of the tokens are used for ecosystem growth, 20% of the tokens are given to core contributors (no unlocking in the first year, linear unlocking in the next two years), and 28% are given to strategic partners (top venture capital and market makers, no unlocking in the first year, linear unlocking in the next two years).

Tokens for ecosystem growth are mainly used for user incentives (32.5%, unlocked in 5 years, of which 19.68% are airdropped and 12.82% are used for subsequent incentives), protocol development (8.5%, 1/3 unlocked by TGE, and the remaining unlocked in 2 years), treasury (6.5%, linearly unlocked for 36 months after 3 months), liquidity reserve (4.5%, unlocked by TGE, used for CEX market making and DeFi liquidity)

The Bluefin project has a big picture, allocating 19.68% of the airdrops to existing and new users. The first part of the confirmed additional airdrops includes Bluefin early community supporters (15.82%), SUI ecosystem partner users (1.67%), Solana and EVM partner users (1.4%), and NFT community partners (0.79%). Users can link Sui, EVM, Base and SOL wallets to check, and there may be unexpected surprises.

Query link: http://trade.bluefin.io/airdrop

Bluefin's token economics is well designed, which not only rewards early users, but also takes into account users of the Sui ecosystem and other active ecosystems, which is conducive to attracting the attention of potential value users. In the future, sufficient token rewards will be reserved to incentivize users to continue using the protocol. There is no unlocking for core contributors and strategic partners in the first year, which ensures the long-term binding of the team, partners and the protocol, is conducive to the sustainable development of the protocol, and protects the interests of coin holders.

IV. Participation Methods

The second part of the airdrop, Bluefin’s accumulated interaction rewards (Historical Rewards), is still accumulating. Users can get accumulated points and Sui rewards by interacting with Bluefin.

Currently there are the following methods

4.1 Buefin Contract Transaction Mining

Get SUI rewards and Blue points based on transaction fees. Users who have traded and earned on Bluefin this year will receive a 20% bonus on points. Suitable for users who need to trade mainstream currencies and Sui ecological currencies on a daily basis.

4.2 Bluefin Stablecoin Pool

Deposit wUSDC to provide liquidity to top market makers, obtain SUI and Blue points, and the APR changes dynamically. There is a time limit for withdrawal, and interest and points will continue to be calculated during the redemption period.

4.3 Bluefin Spot Liquidity Pool

Provide spot liquidity, earn SUI and Blue points, and withdraw funds at any time.

Bluefin participation link: https://trade.bluefin.io/referral/v2-rfw60l