incentives

DEX Bluefin will launch the BLUE token: with a maximum supply of 1 billion, 32.5% is allocated for user incentives

ChainCatcher news, according to CoinDesk, the decentralized order book exchange Bluefin has raised a total of $17 million since its establishment in 2020 and will launch its governance token in July. The exchange allows users to trade cryptocurrency perpetual contracts on the Sui network, and recently received an undisclosed amount of investment from trading giant Flow Traders before the token release. Bluefin stated in a press release that the company will use the proceeds to expand its business beyond perpetual contract trading and develop a decentralized financial ecosystem.According to Bluefin's tokenomics, the maximum supply of the BLUE token is 1 billion, with an initial circulating supply of 116 million. Investors and the Bluefin team will have a three-year vesting period, with the lock-up period expiring one year after the initial launch next month. The document states that the company also plans to allocate 32.5% of the tokens for user incentives, including airdrops, trading rewards, liquidity provision, and future growth plans. The DEX also plans to launch an aggregator for trading spot digital assets and "Bluefin Pro," which will offer cross-margin trading and faster execution speeds.Bluefin has raised funds from large hedge funds such as Brevan Howard Digital, Tower Research, Cumberland DRW, and Susquehanna International Group. The exchange stated that its trading volume has exceeded $25 billion so far this year, with monthly revenue exceeding $1 million.
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