Bluefin DEX to Launch BLUE Token with 17.15% Airdrop

Bluefin DEX will launch its BLUE token on December 11, 2024, with a 17.15% airdrop to eligible users. The protocol has reached $35 billion in trading volume and $35 million in TVL since migrating to Sui in 2023. Eligible users include Sui projects, NFT communities, and xCETUS holders. The airdrop aims to reward long-term community members and ecosystem partners.

Introduction:

Bluefin DEX, a leading decentralized exchange (DEX) on the Sui network, is set to launch its native BLUE token on December 11, 2024. With an impressive trading volume of $35 billion and total value locked (TVL) of $35 million since its migration to Sui in 2023, Bluefin DEX has garnered significant attention from the cryptocurrency community. To celebrate this milestone and reward its loyal community members, Bluefin DEX will distribute a generous 17.15% airdrop of BLUE tokens to eligible users [1].

Eligibility and Allocation:

Eligible users for the Blue token airdrop include Sui projects, NFT communities, and xCETUS holders [1]. The airdrop aims to distribute 19.68% of the total BLUE supply to the Bluefin Airdrop program, with approximately 13.18% allocated to early protocol participants and up to 6.5% distributed to Bluefin Leagues and new community members [1].

Acquiring Blue Tokens:

Community members can acquire Blue tokens by engaging directly with the Bluefin protocol through trading on the exchange, referring new users, or participating in stable pools [1]. Alternatively, users can purchase Blue on exchanges that list the token [1]. It's essential to note that Blue is not available to residents of the United States, as outlined in Bluefin's terms of service [1].

Utility and Governance:

At launch, the primary utility of Blue will be to drive governance of the Bluefin Protocol [1]. Blue holders will be able to propose and vote on key protocol decisions through on-chain governance [1]. The Bluefin Foundation plans to introduce further utility functions of Blue as soon as the token generation event (TGE) occurs [1].

Claiming Blue Tokens:

Users who have accumulated tokens through various campaigns throughout Bluefin's history, such as Trade & Earn, Stable Pools, and liquidity provisioning (LPing) on Spot, can claim 50% of their airdrop allocation at TGE [1]. The remaining 50% will be unlocked in the following 2 months (25% each month) [1]. Users will be able to claim their tokens directly through the Bluefin exchange [1].

Conclusion:

Bluefin DEX's highly anticipated BLUE token airdrop is an excellent opportunity for the cryptocurrency community to participate in a thriving decentralized ecosystem. With its impressive trading volume, TVL, and community support, Bluefin DEX is poised for continued success in the decentralized finance (DeFi) space.

References:

[1] Bluefin Foundation. (n.d.). Token. Retrieved December 8, 2024, from https://bluefin.io/foundation/token