Blueshift is a new capital-efficient AMM exchange protocol based on decentralized liquidity portfolio management. It utilizes multiple innovative mechanisms that facilitate new DeFi realities such as zero or negative arbitrage fees, significantly reduced impermanent loss, liquidity portfolios, and the decoupling of token price from token reserves. Blueshift's key innovations include single-token liquidity provision, virtual pairs, internal pricing oracles, Blueshift Reserve Model, community-managed liquidity portfolios and liquidity portfolio managers, and a controllable minting schedule of the BLUES token. These innovations result in an enhanced user experience, improved convenience, superior security, higher capital efficiency and effectiveness, and revenue generation for liquidity providers. Blueshift also offers various benefits such as reduced price slippage, reduced impermanent loss, and APRs of 60-75%. The $BLUES token provides governance over liquidity portfolios and the Blueshift ecosystem, staking and farming rewards, and participation in the protocol's buy-back program. With a total supply of 100,000,000 tokens, 45% of the supply is allocated for staking rewards. Blueshift differentiates itself from other DeFi solutions through features like single-sided liquidity provision, liquidity portfolios, liquidity portfolio managers, controllable minting and burning schedule, virtual pairs, Blueshift Reserve Model, liquidity providers' protective mechanisms, decoupling of token reserves from token price, cross-chain environment, and unprecedented APR. Blueshift has upcoming milestones including Arbitrum integration, deployment of the decentralized portfolio management system, integration of advanced trading and liquidity analytics, deployment of the full on-chain DAO, and listing the $BLUES token on Tier 1 Exchanges. By the end of 2022, Blueshift aims to become a Multichain protocol with integration plans for Arbitrum, BSC, Avalanche, Solana, and other EVM compatible chains.