Bluefin (BLUE)
Total Value Locked$243.08m
TVL by Chain
Sui$151.78m
borrowed$87.58m
staking$3.72m
Arbitrum$4
Key Metrics
Fees (Annualized)$25.03m
Fees 30d$2.05m
Fees 7d$412,818
Fees 24h$51,585
Cumulative Fees$42.24m
Revenue (Annualized)$8.97m
Revenue 30d$734,985
Revenue 7d$143,006
Revenue 24h$17,429
Cumulative Revenue$11.66m
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)$8.97m
Earnings 30d$734,985
Earnings 7d$143,006
Earnings 24h$17,429
Cumulative Earnings$11.66m
DEX Volume 30d$2.287b
DEX Volume 7d$496.08m
DEX Volume 24h$61.02m
Cumulative DEX Volume$29.135b
DEX Aggregator Volume 30d$409.33m
DEX Aggregator Volume 7d$52.84m
DEX Aggregator Volume 24h$10.81m
Cumulative DEX Aggregator Volume$7.724b
Perp Volume 30d$1.77b
Perp Volume 7d$326.64m
Perp Volume 24h$48.11m
Cumulative Perp Volume$62.146b
Market Cap$12.66m
$BLUE Price$0.038
All Time High$0.86
All Time Low$0.037
Fully Diluted Valuation$38.34m
Outstanding FDV$32.65m
$BLUE Volume 24h$2.84m
CEX Volume$2.66m
DEX Volume$266,771(9.39% of total)
Staked$3.72m(29.41% of mcap)
Borrowed$87.58m
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
| Q4 2025* | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | |
|---|---|---|---|---|---|---|---|---|---|
| Fees | $6.44m | $10m | $7.26m | $6.96m | $4.07m | $922,228 | $2.28m | $3.86m | $449,903 |
| Revenue | $2.48m | $3.27m | $2.06m | $2.49m | $1.36m | $0 | $0 | $0 | $0 |
| Incentives | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Earnings | $2.48m | $3.27m | $2.06m | $2.49m | $1.36m | $0 | $0 | $0 | $0 |
| Token Holder Net Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |