Bluefin has officially launched a new perpetual futures (perps) trading platform on the Sui Network, Bluefin Pro. The Bluefin Perps Beta service has come to an end with 648 days of service and 118,000+ accounts and more than $55 billion in cumulative trading volume. Bluefin Governance Proposal 2 (BGP-2) will govern this transition and will set out the timeline of the migration, in phases.
On July 11, the platform will start delisting some of its assets i.e., $SEI, $APT, $TIA, $POL, $AVAX, $ARB, $TRUMP, $DEEP, $BLUE, and $SEND on the Beta exchange. The second wave of delistings, which includes $BTC, $ETH, $SOL, $SUI, and $WAL, is scheduled on July 29.
These are the main markets on which Bluefin Pro will present, and traders can take up the existing positions via the new interface. Open positions should be liquidated prior to each delisting expiry or they will automatically be at the oracle price.
Early Access and Full Launch Schedule
The week of July 15 is targeted as the early access release of Bluefin Pro. Three days later, after the early access, the platform will be launched publicly. Traders will remain able to access the Beta platform until July 29, and Bluefin Beta will officially sunset on July 31.
The platform’s yield-generating mechanism, Bluefin Vaults, will be available during and after the migration, so users will not miss out on the staking rewards. The development team has ensured that a comprehensive migration guide and frequently asked questions will be published prior to moving to help all users.
Strategic Direction and Institutional Adoption
Bluefin is keen to develop a high-scale decentralized trading platform. The new Bluefin Pro is also set to exploit institutions’ expanding appetite for perpetual futures. Robinhood and Coinbase are just a few examples of companies that have implemented perps as part of their product roadmaps, further supporting the significance of this market segment.
The infrastructure offered by Sui Network can handle global transaction volume. The introduction of Bluefin Pro is meant to be in line with industry trends towards fast-paced, on-chain trading environments.
