Introduction
In a strategic move that signals the accelerating convergence of traditional and decentralized finance, RISE has acquired BSX Labs, the team behind the BSX perpetuals exchange on Base network. The acquisition brings expertise from handling over $15 billion in trading volume and positions RISE to develop the first integrated onchain orderbooks that combine synchronous composability with traditional market compatibility. BSX token holders will receive a 1.5% allocation of RISE’s upcoming native token through an airdrop, marking a significant transition for the BSX community.
Key Points
- BSX Labs processed over $15 billion in cumulative trading volume since launching in 2023 and was backed by Blockchain Capital and Coinbase Ventures
- The acquisition enables development of EVM-based synchronously composable orderbook primitives that bridge traditional financial markets with DeFi
- BSX token holders will receive 1.5% of RISE's total token supply through an airdrop, while the BSX DEX will be sunsetted starting November 11, 2025
Strategic Acquisition to Bridge Traditional and Decentralized Finance
The acquisition of BSX Labs by RISE represents a calculated bet on the future of onchain trading infrastructure. BSX Labs, backed by prominent investors including Blockchain Capital and Coinbase Ventures, brings proven expertise from supporting over $15 billion in orderbook trading volume through their BSX Protocol on the Base network. This substantial trading history demonstrates the team’s capability in designing and operating sophisticated trading systems that have already gained market traction and user loyalty.
According to Sam Battenally, CEO of RISE, the integration of BSX’s technology and talent represents a “key strategic step” that accelerates the company’s roadmap toward launching native, best-in-class orderbook infrastructure. The BSX team’s background includes experience at major cryptocurrency exchanges and trading firms including Coinbase, Kraken, Jump, and FalconX, providing them with the necessary expertise to bridge the gap between traditional financial markets and decentralized finance.
The market context for this acquisition is particularly significant given the immense forecasted growth of stablecoins and tokenization. RISE, together with the BSX team, is making an “opinionated bet” that integrated perpetuals and spot orderbooks will become the preferred infrastructure for brokers, asset issuers, and retail traders seeking the benefits of both traditional market structure and blockchain technology.
Technical Innovation: Synchronously Composable Orderbook Primitives
At the core of this acquisition is the development of EVM-based synchronously composable orderbook primitives that will fundamentally change how onchain trading operates. The current market has yet to see fully composable orderbooks operating onchain at scale, with existing solutions either fragmented with custom execution or limited by underlying chain constraints. RISE’s high-performance Ethereum Layer 2 blockchain aims to solve these limitations by providing the necessary speed and throughput for sophisticated trading applications.
The integrated orderbook approach promises several key advantages, including synchronous composability with other DeFi applications, higher speed and throughput capabilities, and increased compatibility between blockchain and traditional financial markets. This technical foundation will enable retail brokers to access deep liquidity pools, allow asset issuers to list both spot and perpetual instruments for their assets, and provide users with improved execution quality, access to new assets, and novel DeFi yield opportunities.
The BSX team’s experience in designing and operating a hybrid orderbook trading system positions RISE to accelerate innovation in fully onchain orderbook products, which represents a core use case for RISE’s blockchain infrastructure. This technical integration aims to create what the companies describe as “programmable markets onchain” with CEX-grade performance and full EVM composability.
Transition Plan and Tokenholder Benefits
As part of the integration process, the BSX decentralized exchange will be sunsetted in a structured one-week process beginning November 11, 2025, at 15:00 UTC. Users have been directed to visit the BSX blog for detailed instructions on closing positions and withdrawing assets. This managed transition ensures that existing BSX users can smoothly migrate their activities while maintaining the security and integrity of their assets throughout the process.
For BSX token holders, the acquisition provides a clear path forward with significant benefits. The companies have allocated 1.5% of the total RISE token supply to BSX tokens currently in circulation in the market, making BSX token holders eligible for an airdrop of RISE’s upcoming native token. This allocation represents a substantial commitment to the existing BSX community and provides continuity for token holders through the transition.
Avi, CEO of BSX Labs, characterized the move as “an incredible opportunity for our team and our community,” noting the shared vision for “a more performant and transparent onchain trading future.” The combination of BSX Labs’ trading expertise with RISE’s resources and ecosystem creates the potential to build this future at a much larger scale than previously possible, potentially transforming how both retail and institutional users interact with onchain trading infrastructure.
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