The DEEP Token and DeepBook Version 3 Launch
The imminent launch of the DEEP token and DeepBook version 3 brings new features and community governance to Sui's native liquidity layer.
On Monday, October 14, both DeepBook version 3 and the DEEP token will launch on Sui. These two announcements mark a major development in liquidity within the Sui ecosystem while introducing fundamental decentralization and governance.
Following months of development, DeepBook version 3, a secure and fully onchain central limit order book (CLOB) built on Sui, will be deployed to Sui Mainnet, accompanied by the decentralization of the protocol through its native DEEP token.
The DEEP token
On October 14, the DeepBook token (DEEP) will launch publicly on centralized exchanges as well as Sui’s leading decentralized exchanges at 10:00 am UTC.
DEEP is pivotal in making DeepBook protocol the cutting-edge decentralized central limit order book (CLOB) and is designed to make DeepBook the preeminent venue for wholesale liquidity between and amongst professional traders and DeFi protocols. The design of the DEEP token incentivizes its many diverse participants to work together to offer ample and around-the-clock liquidity, strengthening its particular specialty in wholesale liquidity.
For more information on tokenomics and token utility, read the DeepBook Token whitepaper.
On launch day, the 101,968 holders of the DBClaimNFT will be able to claim their token allocation through a claims site, around the same time as the token listing.
For those who participated in the version 3 testing phase, an analysis of quality and timely contributions will be done and another claims site will be made available in the weeks after the token launch where users can check their eligibility and claim their rewards.
DeepBook version 3
With its robust liquidity layer and Sui’s advanced architecture, DeepBook version 3 delivers DeFi’s most performant order book and sets the bar for liquidity and trading on Sui.
DeepBook version 3 is the newest iteration of the CLOB, whose predecessor facilitated over $5 billion in onchain trading volume, has been called by more than 740k unique wallets, and enabled the collection of more than 90,000 SUI in onchain gas fees.
Since deploying to Sui Testnet on August 28, DeepBook Protocol has undergone rigorous testing and auditing. During this time, the engineering team working on it invited the community to help thoroughly test the protocol, resulting in 120,000 unique wallets generating more than 1.1 million transactions. Looking ahead, DeepBook’s vision is to remain the foundation of Sui’s DeFi ecosystem, enabling innovation, competitive, and user-centric applications. We are excited for this next stage in DeepBook’s journey and look forward to continuing to build alongside our partners at Aftermath, Kriya, Cetus, FlowX, Hop Aggregator, Turbos, 7K Aggregator, and many more.
