DeepBook 3.0 Upgrade and $DEEP Token Launch
Sui Network, the high-performance monolithic Layer 1 blockchain, will launch DeepBook 3.0 - its centralized limit order book (CLOB) - on October 14, simultaneously releasing its governance token $DEEP. This upgrade aims to strengthen Sui's order book liquidity infrastructure, optimizing the experience for both DeFi developers and participants.
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$DEEP Token Airdrop Eligibility
The $DEEP token generation event (TGE) was first announced in April 2024. According to the official release:
- DeepBook has already airdropped DBClaimNFT (a soul-bound token) to eligible user addresses
- The number displayed on this NFT represents the $DEEP allocation for that address
- On October 14, DeepBook will open the $DEEP claim window
- DBClaimNFT holders can burn their NFT to claim $DEEP tokens
Potential Airdrop Recipients:
- Liquidity providers on Sui DEXs (Cetus, Kriya, AfterMath, Turbos)
- Users can check NFT receipt via Sui blockchain explorer
$DEEP Token Distribution
With a maximum supply of 10 billion tokens, $DEEP will serve three primary functions:
- Paying DeepBook transaction fees
- Liquidity creation
- Decentralized governance
Allocation Breakdown:
| Category | Percentage | Tokens |
|---|---|---|
| Community Airdrop | 10% | 1B |
| Core Contributors & Early Investors | 28.43% | 2.843B |
| Ecosystem Development | 61.57% | 6.157B |
Initial Circulation: 2.5B tokens (25% of total supply), including:
- Entire airdrop allocation (10%)
- Core developer allocation (1%)
- Partial ecosystem development funds (14%)
Vesting Schedule: Remaining 90% will unlock gradually over 7 years.
DeepBook's Role in Sui DeFi Ecosystem
As Sui's native CLOB, DeepBook:
- Matches on-chain spot trading orders
- Provides integrated liquidity infrastructure for DEXs
- Currently supports major Sui exchanges (Cetus, After Math, Kriya, Turbos)
Key Benefits:
✔️ Unified liquidity across all integrated DEXs
✔️ Enhanced trading depth
✔️ CEX-like trading experience
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Current State of Sui DEXs (TVL Rankings)
According to DefiLlama (as of October 2024):
- Cetus: $195M
- After Math: $53.27M
- DeepBook: $29.31M
- Kriya: $26.89M
- Turbos: $22.06M
Note: While most Sui DEXs use AMM/CLMM mechanisms, DeepBook's CLOB integration enables traditional limit orders for Sui-based tokens.
FAQ Section
Q1: How can I check if I received the DBClaimNFT?
A1: Use a Sui blockchain explorer to scan your wallet address for the NFT.
Q2: What happens if I miss the claim window?
A2: Unclaimed tokens will be reallocated to ecosystem development funds.
Q3: Can I stake $DEEP tokens?
A3: Yes, staking mechanisms will be introduced post-launch for governance participation.
Q4: Where will $DEEP be listed?
A4: Major exchanges are expected to list $DEEP shortly after TGE.
Q5: How does DeepBook compare to traditional order books?
A5: It offers similar functionality but operates entirely on-chain with decentralized governance.
Q6: What's the transaction fee structure?
A6: Fees will be lower than most CEXs, with discounts for $DEEP token holders.
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