Navigating Sui: DEXs - Bluefin
What is Bluefin?
Bluefin is a decentralized perps and spot trading platform, powered by Sui. Since its launch, the exchange has processed $60B in trading volume, making it the leading protocol on Sui by trading volume. Bluefin’s north star is to become the most powerful on-chain trading venue. Bluefin is backed by Polychain, SIG, Brevan Howard, Tower Research, and other leading firms. Here’s more on the team and founders’ story, and here are the key investors
Visit Bluefin here.
How to trade on Bluefin
Connect OKX Wallet: Click “Connect Wallet” on the Bluefin interface, select “OKX Wallet,” and approve the connection. Download OKX Wallet here.
Make a Trade: Choose the tokens you would like to swap by selecting the token in either “Buy” or “Sell” asset and enter the amount. Simply click “Swap” and confirm transactions to execute your trade.
(Optional) Place limit orders: If you would like to place a buy or sell order of a token at a certain price, simply navigate to the “Limit” tab next to “Swap”. Enter the amount of the token you would like to trade and the price you would like to trade it at. Click “Place Order” and confirm transactions to confirm.
How to trade perpetuals on Bluefin
In order to use the Perps feature, you must first confirm that you are not based in the US or other restricted territory. To do this, simply click ‘complete your onboarding’, accept and sign the relevant transaction.
Once signed, you will be prompted to turn on one-click trading. This will require an onchain transaction (you will just pay the gas fee).
Connect OKX Wallet: Click “Connect Wallet” on the Bluefin interface, select “OKX Wallet,” and approve the connection. Download OKX Wallet here.
Deposit wUSDC: To use the Perps feature you will also need to deposit wUSDC. To do this, go to the “Deposit” drop down menu in the top right, and then click “Deposit”. If you do not have any wUSDC, you can convert any token to it in the “Swap” tab. For more information you can follow the steps above.
Make a Trade: Once you have deposited the wUSDC, the Perps feature works similar to the Swap feature. The key difference is that here you will be trading with leverage, and that the tokens that are traded will be visible within your ‘Positions’ in Bluefin, and not in your wallet. To change your leverage amount just click on the ‘10.0x’ to the left of ‘Limit’.
