CONFIRMED BLUEFIN AIRDROP BUILD ON SUI

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12 Feb 2024

Bluefin aims to offer traders a more performant, low-cost, and Web2-like user experience. Over the course of this year, they've rewritten their codebase and built on a new underlying technology. Bluefin is built on Sui, which enables horizontally scalable performance and a wallet-less trading experience that competes with the user experience of a centralized exchange.
Bluefin (previously Firefly) has raised a total of $4M from investors like Polychain Capital and Huobi. They’ve confirmed to launch “BLUE” token, and users who trade earn BLUE points, which will then be converted to BLUE tokens at a 1:1 ratio at TGE. Also, earn 10% rewards from each referral, and users who sign up using the below link will also get a 10% bonus reward.

Step-by-Step Guide:
Go to the Bluefin website.

Connect your Sui wallet like this wallet by Sui.
Accept the terms and complete the onboarding.
Go to “Account” and enter “v2-limsmc” in the referral code field.
You will get a 10% bonus reward on trading if you use the above code.
You will need some SUI and USDC. You can get it from any CEX or DEX.
Bluefin currently supports only USDCeth, so bridge USDC only from Ethereum. You can use the Portal bridge powered by Wormhole.
Go back to Bluefin, click on “Deposit” and deposit USDCeth.
Make trades on perpetuals.
You will earn BLUE points for making trades plus the bonus 10% if you’ve used the above code.
BLUE points will be converted to BLUE tokens at a 1:1 ratio at TGE.

A total of 6% of the total supply has been allocated to users who collect BLUE points.

Initial Trade & Earn Program

All Bluefin Exchange traders are eligible for the Trade & Earn program. The existing Trade and Earn program has been renamed the Initial Trade & Earn Program. Key parameters include:

Epoch Length - The epoch length of this program is 14 days (2 weeks).
Program Duration - The Initial Trade & Earn Program is planned to continue for 10 months from Launch.
Rewards Allocation - Bluefin has set aside 6.00% of total BLUE token supply for all Initial Reward Programs that incentivize trading and community engagement prior to the BLUE token launch. The existing Initial Trade and Earn Program will be funded through this allocation.
Program Incentives - Please visit our community forums for up-to-date information on Epoch Incentives.
Post Program Completion - Bluefin will work with our community and partners to launch a long-term sustainable program after the end of the Initial Trade & Earn Program.
Subject to Adjustments - The parameters and design of the Bluefin rewards program may be updated with feedback from the community and partners. Bluefin will use the Initial Trade & Earn Program to inform the long-term sustainable rewards program. Any previously earned rewards will not be impacted.

*The first 4 epochs were 21 days long, while epochs 5-8 were 28 days long.
**The first 4 epochs had 2,298,850 BLUE in rewards available per epoch, while epochs 5-8 had 3,076,923 BLUE.

Rewards Emissions Process

All distributions of BLUE follow the same emissions process described below. If you wish to claim your rewards immediately after a cooldown period, you will only be able to claim 50% of earned rewards, with the remainder sent to the protocol treasury. If you wish to claim 100% of your rewards, you will be able to do so two epochs after the epoch in which those rewards were earned. Failure to claim any rewards after this time will result in all of the rewards being sent to the protocol treasury.

Token Vesting

All BLUE rewards points earned in the Initial Rewards programs will convert to BLUE tokens 1:1 at token launch and vest over 4 epochs as described in the image above. The vesting process encourages and rewards stakeholders who believe in the long term success of the Bluefin ecosystem and protocol, as well as helping to fund the long term treasury of the protocol.

Incentive Value vs FDV

An example of the value of BLUE rewards upon Token Generation Event at different valuations:

Wash Trading

Please note that wash trading is not permitted when trading on Bluefin. It is illegal when done intentionally and also violates Bluefin’s terms of use.
Bluefin uses a number of methods to identify potential wash trading, including analyzing suspicious trading behavior. Any two accounts that have most of their volume directly trading against one another will be flagged as wash traders. Bluefin will manually inspect these accounts to ensure that they are intentionally wash trading.
Once a trader, or multiple traders, have successfully been identified as conducting restricted trading activity, they will be prohibited from earning rewards on volume during that epoch. Not only is intentional wash trading illegal in most jurisdictions, it’s unfair to others who are also earning rewards through the Trade and Earn program.

What is the Open Referral Program

The Open Referral program is one of the Bluefin Rewards Programs that provides extra rewards to users by allowing them to refer (i.e. referrer) or get referred by (i.e. referee) other users. It distributes BLUE rewards as a bonus of the Trade and Earn rewards. The rewards are distributed after a one-week wait period following the end of each 14-day epoch.

Who is eligible for the Open Referral Program

The Open Referral program is open to all users. They can earn rewards for referring users or getting referred by users to trade on the exchange. Users can share their referral link with individuals they wish to invite as their referees.

How does the Open Referral Program Work

All you have to do is refer users to the exchange!
At the end of each epoch, all users who have been referred will receive a 10% boost on the rewards they've accrued through the Trade and Earn program. Furthermore, the referrers will be also receive a 10% boost from their referred users' Trade and Earn rewards.

Important

The Trade and Earn rewards eligible for consideration within the Open Referral program encompass those earned after making a referral or being referred by someone else.
After the cool-down period concludes, the estimated rewards will be officially determined for the Trade and Earn program, followed by the Open Referral Program. The Open Referral Program is a boost to the Trade and Earn rewards.

Bluefin Vanguard Ambassador Program

Bluefin Vanguard Ambassador Program: Navigating New Horizons

Bluefin Vanguard is an ambassador program designed to empower and engage members of the Bluefin community. Members of the program will play a crucial role in community building, platform development, and outreach initiatives.

Mission:

The mission of Bluefin Vanguard is to develop a network of ambassadors who are passionate about decentralized finance and are eager to contribute to the growth and success of Bluefin.
Bluefin Vanguard Ambassadors: Sailors ⛵️

Roles and Responsibilities:

Product Feedback and Testing: Sailors will play a critical role in testing new features and updates, providing first-hand feedback and suggestions for improvements.
Trading Quests: Complete daily and weekly trading challenges to earn rewards.
Content Creation: Create informative and engaging content to educate and inspire both current and potential users. Such content can include Infographics, comparison matrices, memes, translations, tweet threads, blogs
Community Engagement: Participate in community conversations and questions on Discord and Telegram, amplifying information & announcements, hosting AMAs, and raising awareness in your personal communities
Leadership and Mentorship: Guide new users with onboarding onto Bluefin and lead community initiatives to encourage active participation

Benefits for Ambassadors:

Early access to new features and products.
Networking opportunities with other Sailors, Bluefin’s partner network and the development team.
Recognition on Bluefin social platforms and community channels.
Rewards, excluive merchandise, and potential for growth within the Bluefin community (In the past, Bluefin Ambassadors have become full-time team members)

Join the Vanguard:

Candidates can apply through the link below and will be evaluated based on their experience, enthusiasm, and alignment with the program's goals.
Applications Close: January 16, 2024 at 13:00 UTC
Apply Now: https://bluefinfoundation.typeform.com/bluefinvanguard

Bluefin DAO

Decentralised Autonomous Organization (DAO) will soon manage Bluefin. The DAO will democratically decide the direction of protocol development and make decisions on token emission programs, commission rates, protocol upgrades, available markets, and much more. Voters must have skin in the game to ensure voting on matters beneficial to the protocol. While the token dynamics are designed to drive the adoption and decentralization of Bluefin, the token is not required to use the exchanges, provide liquidity, or trade.

Community

Discord: discord.gg/bluefinapp
Twitter: https://twitter.com/bluefinapp
Telegram: https://t.me/bluefinapp
Telegram Announcements: https://t.me/BluefinAnnouncements

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