BluefinMicro-cap

Bluefin receives a B- risk grade (34/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — fast trading experience but the off-chain matching engine is a single point of failure that leaves you trapped during crashes A trading platform on Sui where you can bet on crypto prices with up to 50x leverage. It handles $84M in deposits and has raised $37.5M from investors like Polychain and Brevan Howard. Its C+ grade reflects the danger of its off-chain order matching going down during a crash while liquidations keep running.

The key risks identified for Bluefin are: (1) During a market crash, the off-chain system that matches trades can go down. You can't close your losing position, but the platform can still liquidate you automatically (2) With 50x leverage, a 2% price move wipes you out. The price feeds come from thin Sui markets that are cheap to manipulate, so someone could force your liquidation (3) If the insurance fund runs out, the platform forcibly closes winning trades to cover losses. Your profitable position can be taken away from you

Bluefin scores 34/100 across eight risk dimensions: Mechanism Novelty: 3/15, Interaction Severity: 8/20, Oracle Surface: 5/10, Documentation Gaps: 2/10, Track Record: 3/15, Scale Exposure: 3/10, Regulatory Risk: 3/10, Vitality Risk: 7/10. The highest risk area is Vitality Risk at 7/10.

Among 53 rated Derivatives protocols on Hindenrank, Bluefin ranks #14 by safety (lowest risk score = safest). Its 34/100 risk score and B- grade place it among the safer Derivatives protocols.

Bluefin scores 3/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.