Bluefin (BLUE)
Total Value Locked$214.46m
TVL by Chain
Sui$214.46m
Arbitrum$4
Key Metrics
Fees (Annualized)$37.54m
Fees 30d$3.08m
Fees 7d$699,205
Fees 24h$114,179
Cumulative Fees$34.65m
Revenue (Annualized)$12.64m
Revenue 30d$1.04m
Revenue 7d$246,930
Revenue 24h$36,126
Cumulative Revenue$8.74m
Holders Revenue (Annualized)$0
Holders Revenue 30d$0
Holders Revenue 7d$0
Holders Revenue 24h$0
Cumulative Holders Revenue$0
Incentives (Annualized)$0
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$0
Earnings (Annualized)$12.64m
Earnings 30d$1.04m
Earnings 7d$246,930
Earnings 24h$36,126
Cumulative Earnings$8.74m
DEX Volume 30d$2.592b
DEX Volume 7d$774.87m
DEX Volume 24h$132.23m
Cumulative DEX Volume$22.345b
DEX Aggregator Volume 30d$1.378b
DEX Aggregator Volume 7d$451.32m
DEX Aggregator Volume 24h$70.7m
Cumulative DEX Aggregator Volume$4.729b
Perp Volume 30d$1.909b
Perp Volume 7d$617.05m
Perp Volume 24h$91.06m
Cumulative Perp Volume$54.231b
Market Cap$22.22m
$BLUE Price$0.073
All Time High$0.86
All Time Low$0.058
Fully Diluted Valuation$72.71m
Outstanding FDV$61.86m
$BLUE Volume 24h$8.46m
CEX Volume$7.34m
DEX Volume$1.11m(13.17% of total)
Staked$6.97m(31.38% of mcap)
Borrowed$151.05m
Protocol Information
Bluefin is a decentralized spot and derivatives exchange built for both professional and first-time traders. It focuses on security, transparency and redefining the user experience of using on-chain trading platforms - and is backed by Polychain, SIG, Brevan Howard, and other leading firms.
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Bluefin Legacy: Fees paid by usersView code on GitHubBluefin Spot: Swap fees paid by usersView code on GitHubAlphaLend: All fees paid/earned while using lending/borrowing and liquidation.View code on GitHubBluefin Pro: Fees paid by usersView code on GitHub
Revenue:
Bluefin Legacy: Treasury and token holders revenueView code on GitHubBluefin Spot: Percentage of swap fees going to treasury and/or token holdersView code on GitHubAlphaLend: Fees collected by protocol native markets.View code on GitHubBluefin Pro: Treasury and token holders revenueView code on GitHub
Holders Revenue:
Bluefin Legacy: Fees going to governance token holdersView code on GitHubBluefin Spot: Money going to governance token holdersView code on GitHubAlphaLend: No holders revenue.View code on GitHubBluefin Pro: Fees going to governance token holdersView code on GitHub
DEX Volume: Volume of all spot token swaps that go through the protocol
DEX Aggregator Volume: Volume of all spot token swaps that go through the protocol
Perp Volume: Notional volume of all trades in the protocol, includes leverage
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Income Statement for Bluefin
| Q3 2025* | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | |
|---|---|---|---|---|---|---|---|---|
| Fees | $8.85m | $7.26m | $6.96m | $4.07m | $922,228 | $2.28m | $3.86m | $449,903 |
| Revenue | $2.83m | $2.06m | $2.49m | $1.36m | $0 | $0 | $0 | $0 |
| Incentives | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Earnings | $2.83m | $2.06m | $2.49m | $1.36m | $0 | $0 | $0 | $0 |
| Token Holder Net Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |