Winding Down Bluefin Classic

Governance/DAO Discussions
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On December 20, 2023 at 1:00 UTC, Bluefin will deprecate Bluefin Classic on the Arbitrum Network. As part of the wind down process, we want to provide existing Bluefin Classic users enough time to close their positions and withdraw their funds. At this time, Bluefin will enter a final settlement mode where all open positions will be closed at the oracle price at that time. The position margin along with any P&L and funding payments accumulated can be withdrawn by users into their wallets for until January 20, 2024 at 1:00 UTC.

Why is Bluefin winding down the Bluefin Classic on Arbitrum?

The winding down of Bluefin Classic is a strategic step towards focusing all our resources on Bluefin v2 powered by Sui, which has shown promising results in performance, user experience, and cost efficiency.

How does the winding down process work?

  • Phase 1: 22nd December at 1:00 UTC - Final Settlement on Bluefin Classic
    • At this date, all open positions will be settled at oracle price. We’re doing this quickly because we expect liquidity to drop on the order books, and settling at oracle price will result in lower slippage. We encourage you to move your positions to Bluefin v2 either before or after final settlement
    • For a period of 30 days after final settlement, users may come on the platform to withdraw funds from settled positions
    • You can view your historical rewards on Bluefin Classic. The claim process will be explained ahead of the token launch.
  • Phase 2: 30th January at 1:00 UTC - Last day to withdraw funds from Bluefin Classic
    • This is the last date to withdraw funds that are locked on Bluefin Classic
    • You will still be able to see your historical rewards and account history after this date. The claim process will be explained ahead of the token launch.

Is Bluefin v2 on the Sui Network Affected in any way?

No, Bluefin v2 is not affected.

As we approach the final stages of transitioning from Bluefin Classic on the Arbitrum Network to Bluefin v2 on the Sui Network, we want to reassure our community of our commitment to a seamless and supportive process.

To get involved and stay up to date: