Decentralized crypto exchange Bluefin has announced plans to launch its native token, BLUE, on the Sui blockchain. The orderbook-based derivatives exchange, backed by Polychain Capital, aims to use BLUE for governance, allowing the community to propose and vote on protocol decisions.
Token holders need at least 10,000,000 BLUE in voting power to submit proposals. The token distribution allocates 52% for ecosystem growth, with the rest for strategic participants and core distribution. BLUE will have a maximum supply of 1 billion tokens, with an initial circulating supply of 116 million.
All related smart contracts have been audited, ensuring security. Founded in 2020, Bluefin has raised about $30 million, supported by investors like Brevan Howard Digital and Alliance DAO. This move is crucial for the strategic growth and community-driven development of Bluefin’s Sui-based protocol.
