RISE Chain Acquires BSX Labs, BSX Token Holders Now Eligible For RISE Token Airdrop

In Brief

RISE has acquired BSX Labs to integrate its expertise in hybrid orderbook systems and decentralized perpetual trading, aiming to advance orderbooks while providing BSX holders with a migration path and airdrop.

Ethereum Layer 2 platform Rise revealed its acquisition of BSX Labs, the developers responsible for the BSX perpetuals exchange operating on the Base network

BSX Labs created the BSX Protocol, a decentralized perpetual trading platform built on Base, supported by investors such as Blockchain Capital, Coinbase Ventures, and Arthur Hayes, among others. The BSX team brings industry expertise, having previously worked with organizations including Coinbase, Kraken, Jump, and FalconX.

The BSX team’s background in developing and managing hybrid orderbook trading systems is expected to strengthen RISE’s ability to advance innovation in fully on-chain orderbook solutions, a key function of RISE’s high-performance Ethereum Layer 2 network. Through this collaboration, the partners aim to introduce Integrated Orderbook Primitives designed to provide synchronous composability with other decentralised finance (DeFi) platforms, enhanced transaction speed and capacity, and improved interoperability between blockchain infrastructure and conventional financial systems, thereby creating new opportunities for retail users, institutional participants, and application developers.

RISE Advances On-Chain Trading Infrastructure With BSX Acquisition And Integration Of Perpetual And Spot Orderbooks

The market has not yet witnessed fully composable on-chain orderbooks operating at scale. Current solutions remain either fragmented with custom execution mechanisms or limited by the scalability of their underlying blockchain infrastructure. Anticipating substantial growth in stablecoins and asset tokenization, RISE and the BSX team are aligning around the view that integrated perpetual and spot orderbooks will emerge as the preferred infrastructure for brokers, asset issuers, and retail participants. Through Integrated Orderbooks, retail brokers gain access to deep liquidity, asset issuers can list both spot and perpetual instruments for their tokens, and users benefit from optimized execution, exposure to new assets, and enhanced DeFi yield opportunities.

BSX, which launched in 2023, has facilitated more than $15 billion in total trading volume. Following the acquisition, BSX token holders will have a defined migration path and will qualify for an airdrop of RISE’s forthcoming native token, with 1.5% of the total RISE token supply designated for BSX tokens currently in circulation.

As part of the transition, the BSX decentralized exchange will undergo a structured wind-down over the course of one week. The shutdown process is scheduled to begin on November 11th, at 15:00 UTC. Users are encouraged to refer to the BSX blog for detailed guidance on closing open positions, withdrawing remaining assets, and accessing additional information regarding the transition.