TL;DR
- Bluefin will launch its native token, BLUE, on December 11, 2024, allocating 17.15% of the total supply to an airdrop for various strategic communities.
- Beneficiaries include projects from the Sui ecosystem, NFT communities, and collaborators on chains like Solana and EVM networks.
- Since its migration to Sui, Bluefin has accumulated $35 billion in trading volume and a TVL exceeding $35 million.
Bluefin, a perpetual DEX, has announced the launch of its native token, BLUE, scheduled for December 11, 2024. This token will be pivotal for the platform operating on the Sui blockchain since its migration from Arbitrum in 2023. As part of the launch, the platform will distribute 17.15% of the total token supply through an airdrop targeted at various strategic communities.
The airdrop distribution encompasses multiple groups within and beyond the Sui blockchain. Beneficiaries include ecosystems such as Suilend, Bucket, and Hop, as well as prominent NFT communities like Pudgy Penguins, MadLads, and Azuki.
Additionally, xCETUS holders since early November and collaborators on external chains, such as Solana and EVM-compatible networks, will also be eligible. The strategy aims to foster cross-chain interoperability and reward Bluefin’s long-term and active participants.
Bluefin’s Growth Within Sui
The protocol’s growth since its migration has been exceptional. According to DefiLlama data, Bluefin has achieved a cumulative trading volume nearing $35 billion and a Total Value Locked (TVL) exceeding $35 million. These milestones are a result of the advantages offered by the Sui network, such as fast transactions and competitive fees, which are essential for a DEX aiming to provide a seamless and accessible user experience.
In October 2024, the protocol partnered with Pyth Network to distribute 500,000 PYTH tokens as rewards, based on snapshots taken in July and October of this year. The tokens were distributed as wPYTH directly to Sui wallets.
The launch of the BLUE token and the airdrop distribution will be instrumental in enhancing Bluefin’s position and popularity within the Sui ecosystem, solidifying its growth and fostering collaboration among communities and projects
