RISE today announced its acquisition of BSX Labs, the team behind the BSX perpetuals exchange on the Base network. BSX Labs is backed by Blockchain Capital and Coinbase Ventures, bringing expertise from supporting over $15 billion in orderbook trading volume. The team will help RISE develop EVM-based synchronously composable orderbook primitives designed to bridge traditional financial markets.
Accelerating Onchain Orderbook Innovation
The BSX team's experience in designing and operating a hybrid orderbook trading system positions RISE to accelerate innovation in fully onchain orderbook products, a core use case of RISE’s high-speed Ethereum Layer 2 blockchain. This collaboration will deliver Integrated Orderbook Primitives that benefit from synchronous composability with other DeFi applications, higher speed and throughput, and increased compatibility between blockchain and traditional financial markets. This opens new opportunities for both retail and institutional users, as well as app developers.
“The BSX team built an impressive trading engine that attracted significant volume and a loyal user base,” said Sam Battenally, CEO of RISE. “Integrating their technology and talent is a key strategic step for us. It accelerates our roadmap towards launching a native, best-in-class orderbook infrastructure on RISE.”
Addressing Market Gaps in Composability and Scale
The market has yet to see fully composable orderbooks onchain and at scale. Existing solutions are either fragmented with custom execution, or the underlying chain cannot support such scale. With the immense forecasted growth of stablecoins and tokenization, RISE, together with the BSX team, is making a strategic bet that integrated perps and spot orderbooks will be the preferred infrastructure for brokers, asset issuers, and retail traders.
With Integrated Orderbooks, retail brokers gain access to deep liquidity, asset issuers can list spot and perps instruments for their assets, and users get access to the best execution, new assets, and net-new DeFi yield opportunities.
BSX Token Holder Airdrop and DEX Sunset
BSX launched in 2023 and processed over $15 billion in cumulative trading volume. The acquisition will provide a path forward for BSX token holders, who will be eligible for an airdrop of RISE’s upcoming native token. 1.5% of the RISE token total supply is allocated to BSX tokens currently in circulation in the market.
“Joining RISE is an incredible opportunity for our team and our community,” said Avi, CEO of BSX Labs. “We share a vision for a more performant and transparent onchain trading future. With the resources and ecosystem of RISE, we can now build that future at a much larger scale.”
As part of the integration, the BSX decentralized exchange (DEX) will be sunsetted in a structured one-week process. The shutdown of the BSX DEX will commence on November 11, 2025, at 15:00 UTC. Users can visit the BSX blog for instructions on closing positions and withdrawing assets, and for further details.
About BSX Labs
BSX Labs was the developer of the BSX Protocol, a decentralized perpetuals exchange on Base, backed by Blockchain Capital, Coinbase Ventures, Arthur Hayes, and others. The BSX team comes from an impressive background with past experience at Coinbase, Kraken, Jump, and FalconX.
About RISE
RISE is a high-performance Ethereum Layer 2 that powers programmable markets onchain. Built for CEX-grade performance and full EVM composability, RISE enables builders, traders, and institutions to create and connect to global orderbooks alongside a thriving DeFi ecosystem with ease. RISE is rearchitecting the financial stack for a transparent, composable, and unstoppable onchain economy.