Spyderco Dragonfly™ 2 Folding Knife | C28PCBL2 | CPM SPY27 Steel | Cobalt Blue FRN

The Experience

This is not the standard Dragonfly 2. The Cobalt Blue handle is the visual signature of Spyderco's elite SPY27 family — and it means the blade inside is CPM SPY27, a proprietary powder metallurgy steel developed exclusively by Spyderco in close cooperation with Crucible Industries. Starting with the proven chemistry of VG-10 — already one of the most respected blade steels in the world — CPM SPY27 supercharges it with increased volumes of carbon, molybdenum, and vanadium, adds niobium and nitrogen, and subjects the entire alloy to Crucible's Particle Metallurgy process. The result is an exceptionally homogenous microstructure that gets "sticky sharp," holds that edge longer, and resists corrosion at a level that standard VG-10 simply cannot match.

All of this lives inside a 5.58-inch folding knife that weighs 1.3 ounces. The same four-finger grip. The same trademark Round Hole one-handed opening. The same reliable lockback. The same Bi-Directional Textured FRN handle. The same compact profile that disappears into a shirt pocket and reappears when it's needed. Just a fundamentally better blade steel — one that Spyderco designed specifically and produces exclusively — in the Cobalt Blue colorway that marks every SPY27 instrument in the lineup.

Scientific Engineering

• CPM SPY27 — Spyderco's Proprietary Blade Steel: Developed exclusively with Crucible Industries, CPM SPY27 begins with the cobalt-enriched VG-10 alloy chemistry and enhances it through Crucible's Particle Metallurgy (CPM) process — a manufacturing method that atomizes molten steel into fine powder before consolidating it under high pressure, producing an exceptionally uniform alloy distribution throughout the blade. The result is a microstructure free of the segregation that limits conventional steel performance, with significantly improved edge retention, toughness, and corrosion resistance over standard VG-10.
• "Sticky Sharp" Edge Performance: CPM SPY27 is renowned among serious knife users for its ability to achieve and maintain a "sticky sharp" edge — a tactile sharpness quality where the blade grabs rather than slides across material being cut. This characteristic is a direct result of the steel's fine, homogenous carbide structure produced by the CPM process.
• Full Flat Ground Blade Geometry: The 2.28-inch leaf-shaped blade is full flat ground — a geometry that produces a thin, consistent taper from spine to edge across the blade's full width, maximizing cutting efficiency and reducing material resistance during slicing tasks.
• Bi-Directional Texturing™ FRN Handle: The Cobalt Blue fiberglass-reinforced nylon handle scales are injection-molded with Spyderco's patented Bi-Directional Texturing — a series of angled ridges that provide a secure non-slip grip from any hand position and any direction of cutting pressure.
• Four-Finger Ergonomic Grip: Despite its compact 3.33-inch closed length, the Dragonfly 2's handle geometry accommodates a full four-finger grip across all hand sizes via an index-finger choil and spine cusp — filling the palm and providing natural cutting control that makes this compact instrument perform like a much larger folder.
• Trademark Round Hole™ One-Handed Opening: Spyderco's signature 11mm round hole allows smooth, reliable one-handed deployment with either thumb or forefinger. Its precise positioning relative to the pivot is engineered for a natural ergonomic opening motion without mechanical assistance.
• Lockback Mechanism: A stout back lock secures the blade firmly in the open position during use — one of the most time-tested and mechanically reliable locking systems in folding knife design.
• 4-Way Reversible Wire Clip: The tip-up wire clip is fully reversible for left or right-side, tip-up carry — accommodating any carry preference without additional hardware or modification.
• Cobalt Blue — Signature SPY27 Colorway: Across the entire Spyderco lineup, Cobalt Blue handles mark CPM SPY27 steel instruments exclusively — making the color itself a meaningful quality signal that serious knife buyers recognize immediately.

Boutique & Conservation Values

• Premium Steel, Compact Form: CPM SPY27 is a premium powder metallurgy blade steel that Spyderco reserves for its most performance-oriented instruments. Finding it in a 1.3-ounce compact folder is genuinely unusual — most premium steel upgrades come in larger, heavier knives. The Cobalt Blue Dragonfly 2 delivers elite blade performance in a form factor that disappears into a pocket.
• Spyderco Exclusive Steel: CPM SPY27 is proprietary to Spyderco — it cannot be found in any other manufacturer's products. Choosing the Cobalt Blue Dragonfly 2 means choosing a blade material that exists nowhere else in the knife industry.
• Proudly Made in Japan: Handcrafted in Seki, Japan — the precision cutlery capital of the world — under Spyderco's exacting quality standards.
• Spyderco Lifetime Warranty: Every Dragonfly 2 CPM SPY27 is backed by Spyderco's manufacturer warranty against defects in materials and workmanship.

Specifications

• Blade Length: 2.28" (57.9mm)
• Cutting Edge: 1.94" (49.3mm)
• Blade Thickness: 0.098" (2.5mm)
• Blade Steel: CPM SPY27 Stainless Steel
• Blade Finish: Satin
• Blade Grind: Full Flat
• Overall Length: 5.58" (141.7mm)
• Closed Length: 3.33" (84.6mm)
• Handle Material: Cobalt Blue FRN (Fiberglass-Reinforced Nylon)
• Lock Type: Lockback
• Weight: 1.3 oz. (36.9g)
• Pocket Clip: 4-way reversible tip-up wire clip
• Country of Origin: Japan
• Shipping Weight: 1 lb. (estimated)
• Warranty: Spyderco Manufacturer Warranty