Bluefin v2 features features features that can trade without a wallet

Bluefin v2 features features features that can trade without a wallet

The new iteration of the platform adds features such as sub-second, optimistic trades, spot and cross-margin capabilities, as well as a privacy feature to trade without a crypto wallet.

The first version of the platform - Bluefin v1, which lets users trade perpetual swaps on Ethereum scaling network Arbitrum - will remain active, the company said.

As the bear market continues to grow, Bluefin's development comes at a time when crypto trading volumes have fallen significantly as the market grinds to a crawl. Dex volumes have averaged around $10 billion per week recently compared to over $60 billion last November, according to data from DefiLlama.

Last year, decentralized platforms such as Sam Bankman-Fried's FTX blew up in a stunning fashion. Most of the trading volume is still concentrated on centralized platforms due to usually cheaper transactions and faster execution.

Bluefin's v2 boasts to improve the speed by sending positive trade confirmations of trades in around 30 milliseconds back to users, then ensuring the trade with the on-chain smart contracts in around 480 milliseconds, the press release said.

The availability of the network is not limited by other applications and users, necessitating parallel execution. As a result, the success rate of transactions submitted on-chain is extremely high, the press release said.

Bluefin raised funds from investors like Susquehanna, Wintermute, GSR and Wintermute, according to the site's website.