Bluefin has officially launched on Arbitrum, marking an exciting milestone in the development of a performant and user-friendly decentralized exchange for both novice and professional traders.
Bluefin is designed to offer users the experience, performance, and price efficiency of an order book exchange, combined with the security benefits of self-custody.
The beta version of Bluefin has already processed over $180,000,000 in volume since its launch, with liquidity supported by several professional market makers. Over 25,000 users have signed up for early access to the platform on Arbitrum, highlighting the demand for a decentralized exchange that provides a familiar trading experience.
Unlike AMMs, Bluefin uses an order book-based exchange, which offers several advantages, such as more advanced order types and support for professional and institutional trading strategies. This allows professional trading firms to onboard onto decentralized finance and support the level of liquidity and retail trading flow that exists in centralized finance.
Looking ahead, Bluefin is set to launch on the Sui blockchain, which will bring an even higher level of scale and performance. Sui parallelizes the entire transaction pipeline, giving Bluefin the potential to process as many transactions as a centralized exchange. It also has a low-cost horizontally scalable data storage layer that improves bandwidth by adding validators.
Sui’s security features are impressive, as it was designed from the ground up to streamline secure code development and prevent exploitable smart contract vulnerabilities like reentrancy attacks. Furthermore, Sui’s composability allows Bluefin to integrate with any application built on Sui, providing the same end-to-end decentralized financial ecosystem that we will have on Arbitrum.
While a decentralized order book will not be part of the initial Sui launch, it is an important part of Bluefin’s roadmap. More information on how they will achieve this on Sui will be shared in the coming months.
Welcome @bluefinapp !💙🧡
— Arbitrum (💙,🧡) (@arbitrum) February 23, 2023
Users now have access to Bluefin's decentralized perpetuals with blazing-fast settlement 🔥 https://t.co/6HiPOIuPxg
Check out Bluefin today on trade.bluefin.io and stay tuned for updates on their progress.