BBOX

BBOX, operating under the web domain bbo.exchange, is a decentralized derivative trading platform founded in 2023. The company secured $2.7 million in a pre-seed funding round in the third quarter of 2023, which was publicly announced in January 2024. This investment was co-led by Hashed and Arrington Capital, with significant participation from other major firms including Consensys, CMS Holdings, Flow Traders, Manifold Trading, Mask Network, and Nomura's Laser Digital, among others. The venture was established by two industry veterans: Ray, a former high-frequency trader and contributor to Pyth Network, and Olivia, a former senior software engineer from Coinbase. Their combined experience in quantitative trading, traditional finance, and crypto exchange engineering forms the foundation of the company's strategic direction. A notable early achievement was its selection for Binance Labs' incubation program.

The firm operates in the decentralized finance (DeFi) sector, specifically targeting the derivative trading market. Its business model centers on providing both the infrastructure and a liquidity layer for derivative trading to the entire DeFi ecosystem. The platform is designed to serve a range of clients, from sophisticated DeFi power users to more casual investors, through a user-friendly interface and a scalable Software Development Kit (SDK). The core product is a perpetual decentralized exchange (DEX) that introduces a distinct automated market maker (AMM) model. This model is described as a multi-asset, signal-driven dynamic distribution AMM, which permits liquidity providers (LPs) to correlate their price ranges with other assets. This mechanism aims to emulate the complex strategies of proactive market makers while offering the simplicity of passive liquidity provision, thereby enhancing market efficiency. A key technical feature is its use of Oracle Extractable Value (OEV) in the liquidation process, employing an auction mechanism that leverages latencies in oracle price updates. The company was preparing to launch its signal-driven AMM on Linea, a zkEVM Layer 2 network developed by its investor, Consensys, to scale Ethereum dApps. However, according to market data provider PitchBook, BBOX was reported as 'Out of Business' as of February 17, 2025.

Keywords: BBOX, bbo.exchange, decentralized derivatives, perpetual DEX, DeFi trading, automated market maker, AMM, liquidity provision, Oracle Extractable Value, OEV, crypto derivatives, Hashed, Arrington Capital, Consensys, Ray, Olivia, Linea, zkEVM, crypto trading platform, financial software, blockchain finance, digital asset derivatives