Bluefin
Bluefin liquidity pools
Bluefin uses a concentrated liquidity market maker (CLMM) on Sui to support spot swaps. Liquidity providers (LPs) earn swap fees and any offered pool incentives only while their positions are in range. The pools suit providers who accept changing token balances and can manage their price range or use automated rebalancing under its separate reward terms.
UpdatedLiquidity provision uses assets from a connected Sui wallet. Bluefin is not available to United States residents.
LP Management And Alternatives
| Approach | Fit For The Task | Outcome And Ongoing Constraint |
|---|---|---|
| Manual CLMM position | Strong fit for LPs who want control over price bounds and can monitor their position. | The LP manages the range. An out-of-range position stops accruing fees and incentives. |
| Auto-Rebalancer | Conditional fit for LPs who want automated range adjustments and accept its reward terms. | AlphaFi takes 2% of accrued rewards, and all earnings from the position are converted to BLUE. Automation changes range management, while token exposure remains. |
| Tokens held in a wallet | Better fit when retaining chosen token quantities is essential. A liquidity pool is a poor fit for that requirement. | Tokens kept outside the pool do not earn its LP fees or incentives. |
| Supplying a lending market | Alternative when the goal is interest on a supported asset instead of income from swap fees. | Bluefin’s lending feature, developed with AlphaFi, has interest rates that vary with supply and demand. It is a separate lending position. |
Range Selection And Token Exposure
The selected price range and current pool price determine the deposit ratio, so a position does not necessarily require equal values of the two tokens. Manual positions allow lower and upper price bounds or preset percentage ranges. Those choices determine where the supplied liquidity is active.
The liquidity principal in an out-of-range SUI-USDC position is entirely USDC above its upper boundary and entirely SUI below its lower boundary, with price expressed in USDC per SUI. The position can remain open while inactive. Repositioning liquidity into a new range can require swapping part of that single-token balance to obtain the other token.
Changing token prices and inventory affect the value of the position. Fee income does not guarantee a positive total return or preservation of the original token quantities. Automated rebalancing does not remove that exposure.
Automated Range Management
The Auto-Rebalancer, offered in collaboration with AlphaFi, selects the range and adjusts deposits when the position moves out of range. Deposit amounts still depend on the range and current pool price. This reduces manual repositioning work, while the LP still needs to assess the position’s value and earnings denominated in BLUE.
The reward amount displayed in the Auto-Rebalancer modal already includes the deduction of AlphaFi’s 2% fee on accrued rewards. The fee applies to accrued rewards, not the deposited balance.
Claims And Liquidity Removal
The position manager shows deposited tokens, the price range, and pending fees and rewards. Liquidity can be increased or partially removed. Fees and rewards can also be claimed without removing liquidity; removing all liquidity closes the position and automatically claims pending fees and rewards.
For ordinary CLMM positions, claimed SUI and BLUE rewards go to the connected wallet. A reward claim does not itself add those tokens back to the liquidity position. The Auto-Rebalancer has its own claim control in the modal’s Rewards tab and converts its earnings to BLUE.
