What’s Bluefin’s vision, and why did it build on Sui?

Bluefin’s obsession with user experience informs all product and engineering decisions. This has led to the creation of a decentralized trading experience that requires no wallets and is easy to use via mobile, all while remaining liquid, hyper-performant, scalable, and secure.

Our partnership with Sui, a team that originated at Facebook, is driven by this shared vision. Sui’s focus on performance and user experience align with our priorities as we continue to build a platform for both professional traders and first-time users.

Bluefin has been building for over three years and partnered with Sui one year ago; since then, it has captured a majority of volume in the ecosystem and is recognized as the ecosystem’s breakout application.

See the founder story feature in the Logan Jastremski podcast here: https://x.com/LoganJastremski/status/1761059313131417629

What’s on Bluefin’s product roadmap?

For a detailed breakdown, click here.

Bluefin’s goal is to enable users to onboard & trade in seconds. As such, we will be introducing:

  • Wallet abstraction - connect your Google account on Bluefin and get started in seconds

  • 390ms trade finality - head over here to learn more about this

  • Mobile trading, made easier with wallet abstraction

  • 1-click, 1-min Bridging, enabled by cross-chain messaging protocol, Axelar

  • Bluefin Stable Pools, allowing users to lend on Bluefin to top-tier market makers

  • The Bluefin DAO & Bluefin Token

We will also launch 100+ trading markets and another Bluefin product, increasing our offering beyond perpetuals.

How do I earn BLUE points?

For a detailed description of Blue Points, click here.

Blue Points are earned from trading on the platform or referring new users. The Bluefin trading rewards program distributes Blue points and Sui incentives each week to traders based on a user’s pro-rata share of fees paid during an on-going week. Your finalized points are viewable after a 1-day cooldown period at the end of each week.

You can also earn BLUE rewards as part of APY by depositing into Bluefin Stable Pools or by providing overbook liquidity via Elixir.

What is wash trading and how is it detected on Bluefin?

The Bluefin team investigates instances where multiple accounts suspected to be owned by the same individual or entity intentionally buy and sell between each other in order to simulate trading volume. This trading behaviour is suspicious and is unlikely to occur from uncoordinated participation.

Wash trading is not permitted on Bluefin and will be investigated by the Bluefin team; those who are identified as wash traders will be restricted from receiving trading rewards during the week in question.

What is the margining mechanism?

A detailed explanation of Bluefin’s approach to isolated margining can be found here.

The initial margin ratio is the ratio of margin (collateral) to position value when the position is opened. This initial margin is the most a trader can lose on a position. The maintenance margin ratio is the ratio of collateral to position value required to keep a position open. A position will be liquidated if the MR falls below the MMR in the respective market. Details on each market’s initial margin and maintenance margin requirements can be found in the contract details for each market.

Funding payments go to traders on the other side of a trader’s position (i.e. to ‘longs’ when a trader is short and to ‘shorts’ when a trader is long). Funding payments are deducted from (or added to) a position’s margin and are accumulated each hour.

Additional information on the liquidation process can be found here.

How does trade settlement work?

Bluefin is deployed on the Sui blockchain with a hybrid on-chain/off-chain orderbook. The Bluefin orderbook stores orders off-chain in order to be processed at near-instant finality. These orders are cryptographically signed, verified, and matched off-chain and then subsequently verified on-chain. The margining and settlement engines are fully on-chain.

Are the smart contracts audited?

At Bluefin, we're dedicated to building a performant, user-friendly decentralized exchange. To support that, we're deploying code that meets the highest security and transparency standards and reviewing it frequently to ensure up-to-date best practices are used.

While we believe we have done our best to produce resilient and reliable products, we've partnered with the best security auditors in the space - Trail of Bits and PeckShield to audit the contracts - and Halborn for a penetration test of the full stack.

Are my funds safe on Bluefin?

Deposits and withdrawals on Bluefin happen via smart contracts without limits or restrictions. Traders interact only with non-custodial and transparent smart contracts, and no central party has any control over funds and transactions. The best auditors have confirmed the correctness of Bluefin's non-custodial smart contract logic.

How do I ask for help and support?

The Bluefin team is available to answer all questions. You can request support from the team by creating a ticket in the ‘ticket-desk’ channel in Discord under “Support.”

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