Bluefin
BLUEA hybrid decentralized trading protocol on Sui
Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.68% | 5.45% | 35.44% | 3.54% | 23.32% | -- |
Revenue & Burn
Protocol income
$39.46KBuyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $39.46K | -- | -- | -- |
| Sep 2026 | $80.21K | -- | -- | -- |
| Aug 2026 | $58K | -- | -- | -- |
| Jul 2026 | $62.7K | -- | -- | -- |
| Jun 2026 | $136.16K | $0 | -- | 0.0% |
| May 2026 | $244.99K | $0 | -- | 0.0% |
Comparison
Tokenomics
Unlock Progress
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|---|---|---|---|---|---|---|
| 1 | HHTXCEX | BLUE/USDT | $0.03188 | $0 | $0 | $4,626,637 | 376.24% |
| 2 | BBithumbCEX | BLUE/KRW | $0.03166 | $1,742 | $234 | $257,590 | 20.95% |
| 3 | BBitgetCEX | BLUE/USDT | $0.03108 | $954 | $847 | $95,028 | 7.73% |
| 4 | PPhemexCEX | BLUE/USDT | $0.03142 | $2,330 | $4,499 | $64,275 | 5.23% |
| 5 | BBingXCEX | BLUEFIN/USDT | $0.03109 | $729 | $1,643 | $27,755 | 2.26% |
Follow Updates
Follow Lists
People
About Bluefin
Bluefin is a decentralized perpetual contract exchange built on the Sui blockchain, operating with an off-chain order book and on-chain settlement model. Its core business includes spot trading, perpetual contracts, and lending services, all accessible through a unified interface.
Its main competitive edge lies in leveraging Sui's parallel execution architecture to achieve sub-30ms order confirmation and sub-500ms finality, while offering zero gas fees for most operations and a taker fee of only 0.035%. The platform also integrates zkLogin for social logins, lowering the barrier for new users.
Bluefin addresses key market pain points: the high latency and slippage of AMM-based DEXs, the capital inefficiency of concentrated liquidity pools, and the complexity of wallet management. Its order book model provides professional-grade trading depth, and the lending module improves capital utilization.
In the past six months (March to September 2026), Bluefin reported daily trading volumes between $40-70 million, with BTC perpetual contracts accounting for about 60% of volume. The platform processed over $50 billion in cumulative volume and maintained approximately $84 million in TVL. It also expanded supported assets to include DEEP, WAL, and TRUMP.
A notable negative event: in May 2025, Bluefin suffered a smart contract vulnerability that affected some user funds. The issue was patched, but it highlighted risks in the protocol's security infrastructure. No audits were publicly listed as of September 2026, which remains a concern for institutional adoption.
Bluefin, a decentralized perpetual contract protocol in the Sui ecosystem, completed a 2 million Swiss franc fundraising round with participation from SUI Group.
It acquired a partial stake in the Sui ecosystem trading terminal insiDeX to accelerate on-chain trading expansion.
Bluefin launched its BLUE token with genesis issuance, listed on Binance Alpha and Bithumb, and enabled airdrop claims.
Over the past six months (2026-03-15 to 2026-09-15), key bullish factors for BLUE include: Bluefin’s token buyback program, which uses up to 25% of quarterly revenue to repurchase BLUE from the open market, reducing circulating supply; the expansion of SUI Group’s loan to Bluefin to 6 million SUI, supporting Bluewater Labs’ acquisition of Suilend, with SUI Group receiving an 11% revenue share from Bluefin through September 2028; and Bluefin founder Zabi being appointed CEO of the acquired Suilend business on June 26, 2026, signaling deeper ecosystem integration and potential institutional capital, RWA, and retail lending products. Bearish factors include BLUE’s five-year token unlock schedule, which may create ongoing sell pressure, and the risk of uneven liquidity distribution under the CLMM model.
Founders & Core Executives:
Rabeel Jawaid – Founder. Co-founded Bluefin in Aug 2020. Previously researched fuel cell nanostructures at UPenn's Singh Center for Nanotechnology.
Ahmad Jawaid – Co-Founder & CTO. Co-founded Bluefin in Jan 2021. Former software engineer at Incorta and Tarjimly; led R&D at Berkeley Hyperloop.
Yameen Malik – Co-Founder. Co-founded Bluefin (formerly Firefly) in Sep 2020. Ex-research engineer at Symantec (NLP), ML engineer at SOFY AI.
Zabi Mohebzada – Co-Founder. Listed as current team member on CryptoRank; no detailed public bio available.