Big news from @bluefinapp ! Their tokenomics have just been unveiled ahead of the July token launch.
Let's dive in and see what's in store! 🧵
Bluefin stands out as the premier protocol within the Sui network, boasting over 70% market dominance through its perpetual trading offering. Established in 2020, it has had over $17m from VCs such as Brevan Howard Digital, Polychain, Tower Research, Cumberland DRW, and SIG.
The platform has also recently attracted an undisclosed investment from the prominent trading firm Flow Traders, just before their token launch.
$BLUE, their soon-to-be-launched token, aims to decentralize the company's decision-making by rewarding users and contributors. Initially, $BLUE's primary utility will be governanace of the bluefin protocol, enabling holders to suggest and vote on critical protocol changes.
On-chain governance will steer the execution of extra utility features for $BLUE, such as community, rewards, and treasury activities. The Buefin foundation plans to reveal further utilities for $BLUE exclusively through on-chain governance, potentially coinciding with the TGE.
The total token supply for $BLUE is 1 billion.
- 52% of the total token supply has been allocated to ecosystem growth over a period of 5 years.
- There will also provision for the strategic partners as they will recieve 28% of total token supply and 20% for core contributors.
Surprisingly, the ecosystem distribution is structured as follows:
- 32.5% for user rewards.
- 8.5% for protocol advancements.
- 6.5% for the treasury.
- 4.5% for liquidity needs.
Moreover, investors, team, and advisors are subject to a 1-year cliff followed by a 2-year linear vesting period, minimizing the risk of a token price drop at the TGE.
For a more detailed information on the tokenomics 👇
Details here: bluefin.io/foundation/token
What's next?
- Launching an aggregator for spot assets
- Introducing Bluefin Pro with improved execution speeds and cross-margin trading
- Upcoming Mysticeti upgrade on the Sui network with a 390ms consensus finality time
Mark your calendars for July! The $BLUE token is already trading at ~$0.40 on Aevo Pre-Launch Markets.
Keep an eye on this launch – it’s going to be big! 💥
Mars_DeFi
@Mars_DeFi
Crypto|DeFi |Web 3 geek |No chain supremacy|Tweets are always my personal opinion| Marketing and Advisory|t.me/Mars_DeFi03