Develops a high-performance decentralized exchange infrastructure on the Sui blockchain, enabling sub-390ms consensus latency and 297,000 peak transactions per second. This platform addresses the need for secure, permissionless trading with cross-chain liquidity and institutional-grade market-making support, democratizing access to financial markets.
Funding
$29.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
FTFounders
Product
Problem
Decentralized exchanges face challenges in achieving the speed and efficiency of centralized exchanges due to the inherent limitations of blockchain technology, such as transaction processing times and gas fees. This can result in a suboptimal user experience with slower trade execution and higher costs.
Solution
Bluefin is developing a high-performance decentralized exchange (DEX) infrastructure on the Sui blockchain designed to provide a trading experience comparable to centralized exchanges. By leveraging Sui's architecture, Bluefin aims to overcome the limitations of traditional DEXs, offering low-latency trade confirmations and fast on-chain finality. The platform utilizes an off-chain matching engine and cross-margining to optimize speed and capital efficiency, while on-chain settlement ensures transparency and security. Bluefin's architecture allows for parallel processing of transactions, significantly increasing throughput and reducing latency.
Target Audience
The primary target audience includes traders and institutional market makers seeking a decentralized platform with performance characteristics similar to centralized exchanges.
Features
- Sub-30ms off-chain trade confirmations for a responsive user experience
- Approximately 400ms on-chain finality, ensuring rapid settlement
- Capacity of up to ~30,000 Trades Per Second (TPS)
- Cross-margin support for efficient capital utilization
- Utilizes Sui's owned object transactions for parallel computation and enhanced transaction processing
- Off-chain matching engine sequences transactions from individual accounts while allowing parallel processing for distinct accounts
- Low gas costs, with the Bluefin Foundation covering gas expenses
- Integration with zkLogin, providing a secure approach to wallet-less trading