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BSXBSX Season 3 - The Road to TGE and Beyond!
Recap: September 2nd marks the end of Season 2. Since its start, BSX trading volume has more than doubled to $4.3 billion, and our trader base has quadrupled to 14,000 users. We also announced the total 6.2M raise for pre-seed and seed round, led by Blockchain Capital with earlier investment from Base Ecosystem Fund. We are committed to build the core DeFi protocol for derivatives trading and beyond on top of Base. During this period, the BSX protocol generated over $1 million in revenue and ...
BSXBSX Security Incident: Root Cause Analysis & Post-Mortem
I. BSX Platform Security Update and Response to Recent IncidentBSX is committed to the security of our platform and the trust of our users. We are providing an update on a recent security incident that affected a specific component of our ecosystem. Our team, in collaboration with our external security partner ZeroShadow, has conducted an initial investigation and taken decisive action.II. Incident OverviewThe incident involved a sophisticated exploit targeting a specific aspect of the token ...
BSXBSX Special Airdrop Blitz: Triple Your BSX Rewards
BSX Special Airdrop Blitz - Triple Your $BSX Reward - Complete Strategy GuideThe moment you've been waiting for is here - BSX Special and BIGGEST airdrop campaign yet! Here's everything you need to know to maximize your $BSX rewards.Campaign OverviewThis is our most generous airdrop yet, with multiple ways to earn and stack rewards. We've designed this campaign to reward both traders and holders, with special bonuses for community builders.Deposit & Hold ProgramBase Mechanics:E...
BSXBSX Season 3 - The Road to TGE and Beyond!
Recap: September 2nd marks the end of Season 2. Since its start, BSX trading volume has more than doubled to $4.3 billion, and our trader base has quadrupled to 14,000 users. We also announced the total 6.2M raise for pre-seed and seed round, led by Blockchain Capital with earlier investment from Base Ecosystem Fund. We are committed to build the core DeFi protocol for derivatives trading and beyond on top of Base. During this period, the BSX protocol generated over $1 million in revenue and ...
BSXBSX Security Incident: Root Cause Analysis & Post-Mortem
I. BSX Platform Security Update and Response to Recent IncidentBSX is committed to the security of our platform and the trust of our users. We are providing an update on a recent security incident that affected a specific component of our ecosystem. Our team, in collaboration with our external security partner ZeroShadow, has conducted an initial investigation and taken decisive action.II. Incident OverviewThe incident involved a sophisticated exploit targeting a specific aspect of the token ...
BSXBSX Special Airdrop Blitz: Triple Your BSX Rewards
BSX Special Airdrop Blitz - Triple Your $BSX Reward - Complete Strategy GuideThe moment you've been waiting for is here - BSX Special and BIGGEST airdrop campaign yet! Here's everything you need to know to maximize your $BSX rewards.Campaign OverviewThis is our most generous airdrop yet, with multiple ways to earn and stack rewards. We've designed this campaign to reward both traders and holders, with special bonuses for community builders.Deposit & Hold ProgramBase Mechanics:E...
Announcing the BSX DEX wind down plan, the sunset of the BSX token, and the upcoming RISE token airdrop for all BSX holders.
We are thrilled to announce a landmark moment for our community: BSX Labs has been acquired by RISE Labs.
Our team and cutting-edge technology are integrating into the RISE ecosystem to accelerate the next era of onchain trading infrastructure. This milestone propels our shared vision forward, to build the first fully onchain, synchronously composable orderbook primitives and best-in-class trading experience for crypto spot and derivatives, where perpetuals redefine the industry.
Founded in 2023, BSX was forged from a deep belief that the industry needs trustless, high-performance trading solutions for growing crypto derivatives market. The FTX collapse exposed critical flaws in centralized systems, while the rise of perpetuals demanded innovation. We assembled an elite team, drawing expertise from Coinbase, Kraken, Jump, and FalconX alongside International Math and IT Olympiad champions, to tackle this challenge.
Our team delivered: a robust, high-throughput trading system that proved decentralized trading could finally match the performance of centralized platforms without sacrificing security.
Through this journey, we confirmed our ultimate vision: the future of DeFi hinges on foundational, fully onchain orderbook infrastructure. Building this is a monumental challenge that requires a perfect synthesis of application-level expertise and protocol-level innovation.
This is precisely why we are so excited to join RISE Labs.
RISE is building the next-generation L2 on Ethereum, engineered with the exact speed and throughput required to host this advanced orderbook infrastructure natively onchain.
Our team and technology will be integrated into RISE to accelerate a shared mission. By joining forces, we are combining our proven expertise with their powerful infrastructure to catapult RISE's development of these advanced orderbook primitives years ahead.
We aren't just joining a platform; we're joining a team we deeply respect. Having collaborated closely, we are inspired by their commitment to crypto's core values, their technical breakthroughs like "Shreds," and the support of industry giants like Galaxy Digital and Vitalik Buterin. This is, without question, the most strategic step to realize our shared future.
This transition brings important changes for BSX users and token holders. The agreement includes two primary components that require your attention:
The BSX DEX Shutdown Sequence
The BSX <> RISE Token Migration & Airdrop
Please read this entire announcement carefully. It contains critical, time-sensitive details on both the shutdown process and the token migration.
As we integrate, we will cease trading activity on Base. The shutdown will occur in a structured, three-phase process designed to give you ample time to manage your account.
We strongly urge all users to take action as soon as possible to ensure a smooth transition.
Phase 1: Manually Close Positions & Withdraw Assets
Dates: November 11 @ 15:00 UTC → November 13 @ 15:00 UTC
App Functionality: All DEX features will remain fully operational. Deposits and withdrawals will be enabled. BSX unstaking and liquidation vault withdraw queue will be reduced to immediately.
User Action: During this week, users are strongly encouraged to:
Manually close any open perpetual positions.
Withdraw all assets and collateral, including converting any bsxUSD to USDC.
Note: This is the primary window for you to manage your account with full control. Prompt action is recommended.
Phase 2: Perpetual Reduce-Only Mode
Dates: November 13 @ 15:00 UTC → November 15 @ 15:00 UTC
App Functionality: DEX functionality will be limited.
Reduce-only mode (close/decrease positions only). No new positions. Deposits disabled. Withdrawals remain enabled.
User Action: This is the final opportunity for manual position management. Oracle prices will be frozen at the end of this phase.
Phase 3: Final Settlement & Full Closure
Dates: November 15 @ 15:00 UTC → November 17 @ 15:00 UTC
App Functionality: All trading activity will cease.
All remaining positions will be force-closed at the frozen oracle prices from Phase 2. The app will be deprecated, leaving only withdrawal functionality.
User Action: Withdraw any remaining balances before the final cutoff date.
Follow these steps to ensure a smooth transition and secure your funds.
How to Close Your Perpetual Positions
Navigate to the "Positions" tab on the trading interface.
Click "Close Position" for each open position.
We strongly recommend using a "Market" order to ensure an immediate and full close.
Confirm the transaction in your wallet.
How to Withdraw Your Funds
Navigate to the "Portfolio" or "Wallet" page.
Click "Withdraw" for each asset with a balance.
Enter the full amount and confirm the transaction.
We are committed to bringing our community with us. As the $BSX token is sunset, we are excited to welcome holders into the new ecosystem.
$BSX holders will receive an airdrop of RISE tokens at launch
Here is the breakdown for the $BSX token transition:
Circulating Supply: 1.5% of the total RISE token supply is allocated to all holders of circulating $BSX tokens (both staked and unstaked).
Team & Investors: All vesting $BSX tokens held by the team and investors will be converted into RISE tokens.
Treasury: All remaining, unvested $BSX tokens in the treasury will be burned after the transition is complete.
Snapshot Date: The snapshot has already been completed on November 11 at 14:30 UTC.
Action Required for $BSX Holders:
If your $BSX is in a personal wallet or staked: No action is required. Your holdings are already accounted for.
If your $BSX is on a Centralized Exchange (CEX): [URGENT] You must withdraw your tokens to your personal wallet and hold within the next 48 hours.
Note: To ensure all newly withdrawn tokens are included, we will perform a final snapshot after this 48-hour window to confirm all eligible holdings are captured.
Future Benefits: The RISE token will be central to the new ecosystem, providing governance rights and a share in the network's success. $BSX holders will also get boosted participation in an upcoming RISE incentives program.
Claim Process: The RISE Foundation will share details on the airdrop mechanics and claim portal at a later date. Stay tuned!
Please stay tuned to our official communication channels for updates on the RISE token airdrop.
Support Our team will provide dedicated support throughout the entire shutdown process. For any questions, please reach out through our official channels:
Security Reminder: Our team will NEVER DM you first. We will NEVER ask for your private key, seed phrase, or for you to send funds to any address. Trust only information posted in our official, public channels.
Assistance for Issues
If you encounter a technical issue or have a dispute regarding your account balance during the shutdown:
Open a support ticket in the #support channel in our Discord.
Provide your public wallet address, a detailed description of the issue, and any relevant transaction hashes. A support agent will assist you.
Frequently Asked Questions (FAQs)
What happens if I do nothing? If you do not manually close your positions by the end of Phase 2, they will be automatically force-closed in Phase 3. Your remaining funds will be available for withdrawal, but we strongly advise you to manage your account proactively.
How is the force-closure settlement price determined? The settlement price for all force-closed positions is determined by the oracle price feeds at the exact moment Phase 2 ends and Phase 3 begins (November 15 @ 15:00 UTC). This price is final.
I hold BSX on a centralized exchange (CEX). How do I get my RISE airdrop? You must withdraw your tokens to your personal wallet within the next 48 hours.
This acquisition is about one thing: accelerating a shared mission. We are integrating our team and technology directly into RISE Labs to supercharge the development of their foundational onchain orderbook infrastructure. The combination of our expertise with RISE's powerful L2 and "Shreds" scalability unlocks a future we've all been working toward.
We've seen this dedication firsthand in our recent work with the RISE team - they are a group truly committed to crypto's core values.
To our entire BSX community: thank you. Your belief in our vision and your support has been the driving force.
We are thrilled to welcome you to the RISE ecosystem, where we will now, together, build the future of onchain finance.
Cheers,
The BSX Team
Announcing the BSX DEX wind down plan, the sunset of the BSX token, and the upcoming RISE token airdrop for all BSX holders.
We are thrilled to announce a landmark moment for our community: BSX Labs has been acquired by RISE Labs.
Our team and cutting-edge technology are integrating into the RISE ecosystem to accelerate the next era of onchain trading infrastructure. This milestone propels our shared vision forward, to build the first fully onchain, synchronously composable orderbook primitives and best-in-class trading experience for crypto spot and derivatives, where perpetuals redefine the industry.
Founded in 2023, BSX was forged from a deep belief that the industry needs trustless, high-performance trading solutions for growing crypto derivatives market. The FTX collapse exposed critical flaws in centralized systems, while the rise of perpetuals demanded innovation. We assembled an elite team, drawing expertise from Coinbase, Kraken, Jump, and FalconX alongside International Math and IT Olympiad champions, to tackle this challenge.
Our team delivered: a robust, high-throughput trading system that proved decentralized trading could finally match the performance of centralized platforms without sacrificing security.
Through this journey, we confirmed our ultimate vision: the future of DeFi hinges on foundational, fully onchain orderbook infrastructure. Building this is a monumental challenge that requires a perfect synthesis of application-level expertise and protocol-level innovation.
This is precisely why we are so excited to join RISE Labs.
RISE is building the next-generation L2 on Ethereum, engineered with the exact speed and throughput required to host this advanced orderbook infrastructure natively onchain.
Our team and technology will be integrated into RISE to accelerate a shared mission. By joining forces, we are combining our proven expertise with their powerful infrastructure to catapult RISE's development of these advanced orderbook primitives years ahead.
We aren't just joining a platform; we're joining a team we deeply respect. Having collaborated closely, we are inspired by their commitment to crypto's core values, their technical breakthroughs like "Shreds," and the support of industry giants like Galaxy Digital and Vitalik Buterin. This is, without question, the most strategic step to realize our shared future.
This transition brings important changes for BSX users and token holders. The agreement includes two primary components that require your attention:
The BSX DEX Shutdown Sequence
The BSX <> RISE Token Migration & Airdrop
Please read this entire announcement carefully. It contains critical, time-sensitive details on both the shutdown process and the token migration.
As we integrate, we will cease trading activity on Base. The shutdown will occur in a structured, three-phase process designed to give you ample time to manage your account.
We strongly urge all users to take action as soon as possible to ensure a smooth transition.
Phase 1: Manually Close Positions & Withdraw Assets
Dates: November 11 @ 15:00 UTC → November 13 @ 15:00 UTC
App Functionality: All DEX features will remain fully operational. Deposits and withdrawals will be enabled. BSX unstaking and liquidation vault withdraw queue will be reduced to immediately.
User Action: During this week, users are strongly encouraged to:
Manually close any open perpetual positions.
Withdraw all assets and collateral, including converting any bsxUSD to USDC.
Note: This is the primary window for you to manage your account with full control. Prompt action is recommended.
Phase 2: Perpetual Reduce-Only Mode
Dates: November 13 @ 15:00 UTC → November 15 @ 15:00 UTC
App Functionality: DEX functionality will be limited.
Reduce-only mode (close/decrease positions only). No new positions. Deposits disabled. Withdrawals remain enabled.
User Action: This is the final opportunity for manual position management. Oracle prices will be frozen at the end of this phase.
Phase 3: Final Settlement & Full Closure
Dates: November 15 @ 15:00 UTC → November 17 @ 15:00 UTC
App Functionality: All trading activity will cease.
All remaining positions will be force-closed at the frozen oracle prices from Phase 2. The app will be deprecated, leaving only withdrawal functionality.
User Action: Withdraw any remaining balances before the final cutoff date.
Follow these steps to ensure a smooth transition and secure your funds.
How to Close Your Perpetual Positions
Navigate to the "Positions" tab on the trading interface.
Click "Close Position" for each open position.
We strongly recommend using a "Market" order to ensure an immediate and full close.
Confirm the transaction in your wallet.
How to Withdraw Your Funds
Navigate to the "Portfolio" or "Wallet" page.
Click "Withdraw" for each asset with a balance.
Enter the full amount and confirm the transaction.
We are committed to bringing our community with us. As the $BSX token is sunset, we are excited to welcome holders into the new ecosystem.
$BSX holders will receive an airdrop of RISE tokens at launch
Here is the breakdown for the $BSX token transition:
Circulating Supply: 1.5% of the total RISE token supply is allocated to all holders of circulating $BSX tokens (both staked and unstaked).
Team & Investors: All vesting $BSX tokens held by the team and investors will be converted into RISE tokens.
Treasury: All remaining, unvested $BSX tokens in the treasury will be burned after the transition is complete.
Snapshot Date: The snapshot has already been completed on November 11 at 14:30 UTC.
Action Required for $BSX Holders:
If your $BSX is in a personal wallet or staked: No action is required. Your holdings are already accounted for.
If your $BSX is on a Centralized Exchange (CEX): [URGENT] You must withdraw your tokens to your personal wallet and hold within the next 48 hours.
Note: To ensure all newly withdrawn tokens are included, we will perform a final snapshot after this 48-hour window to confirm all eligible holdings are captured.
Future Benefits: The RISE token will be central to the new ecosystem, providing governance rights and a share in the network's success. $BSX holders will also get boosted participation in an upcoming RISE incentives program.
Claim Process: The RISE Foundation will share details on the airdrop mechanics and claim portal at a later date. Stay tuned!
Please stay tuned to our official communication channels for updates on the RISE token airdrop.
Support Our team will provide dedicated support throughout the entire shutdown process. For any questions, please reach out through our official channels:
Security Reminder: Our team will NEVER DM you first. We will NEVER ask for your private key, seed phrase, or for you to send funds to any address. Trust only information posted in our official, public channels.
Assistance for Issues
If you encounter a technical issue or have a dispute regarding your account balance during the shutdown:
Open a support ticket in the #support channel in our Discord.
Provide your public wallet address, a detailed description of the issue, and any relevant transaction hashes. A support agent will assist you.
Frequently Asked Questions (FAQs)
What happens if I do nothing? If you do not manually close your positions by the end of Phase 2, they will be automatically force-closed in Phase 3. Your remaining funds will be available for withdrawal, but we strongly advise you to manage your account proactively.
How is the force-closure settlement price determined? The settlement price for all force-closed positions is determined by the oracle price feeds at the exact moment Phase 2 ends and Phase 3 begins (November 15 @ 15:00 UTC). This price is final.
I hold BSX on a centralized exchange (CEX). How do I get my RISE airdrop? You must withdraw your tokens to your personal wallet within the next 48 hours.
This acquisition is about one thing: accelerating a shared mission. We are integrating our team and technology directly into RISE Labs to supercharge the development of their foundational onchain orderbook infrastructure. The combination of our expertise with RISE's powerful L2 and "Shreds" scalability unlocks a future we've all been working toward.
We've seen this dedication firsthand in our recent work with the RISE team - they are a group truly committed to crypto's core values.
To our entire BSX community: thank you. Your belief in our vision and your support has been the driving force.
We are thrilled to welcome you to the RISE ecosystem, where we will now, together, build the future of onchain finance.
Cheers,
The BSX Team
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