DeepBook is the first centralized limit order book (CLOB) platform on the Sui blockchain, optimizing liquidity and transaction speed for the DeFi ecosystem.
DeepBook provides a development toolkit (SDK) that facilitates easy integration into DApps and DeFi protocols, reducing fees, increasing speed, and enhancing transaction security on the Sui Network.
MAIN CONTENT
DeepBook provides a native CLOB solution on the Sui blockchain, enhancing liquidity and trading experience.
The DEEP token serves as both a governance and utility token, supporting transaction fees and voting rights within the ecosystem.
DeepBook has been integrated into many DEXs, Lending, and DeFi projects on Sui, contributing to ecosystem development.
What is DeepBook?
DeepBook is the first Central Limit Order Book (CLOB) on the Sui blockchain, providing an SDK for developers to integrate into DApps, wallets, and decentralized exchanges (DEXs). This protocol helps users access deep liquidity, low fees, and fast processing speeds while functioning as a native liquidity layer for the Sui Network.
DeepBook 'opens a new era for DeFi trading on Sui with the ability to provide optimal and transparent liquidity' – CEO MoveEx, 2024.
CEO MoveEx, 2024
Instead of being an application with its own user interface, DeepBook operates as a foundational intermediary layer connecting DApps with the Sui Blockchain ecosystem, providing token prices and processing transactions efficiently.
How does DeepBook operate?
DeepBook operates as native liquidity on the Sui blockchain using a shared-object pool model to avoid congestion and enhance transaction throughput. CLOB allows for the execution of two primary order types: market orders and limit orders, optimizing matching based on price and volume.
The system stores bid/ask orders in chronological order, ensuring transparency while anonymizing user identity to protect transaction privacy.
The shared-object pool structure of DeepBook enhances processing capabilities.
The shared-object pool model consists of three main components: the Book which manages orders, the State which stores governance data and history, and the Vault which holds the price of the DEEP token and determines transaction fees based on the DEEP/USDC and DEEP/SUI pools.
How is DeepBook applied in the Sui ecosystem?
DeepBook supports a variety of DeFi applications on Sui, including DEXs with high-speed swaps, perpetual derivatives, and Lending platforms. Integrated DEXs like FlowX and KriyaDEX have leveraged DeepBook to reduce slippage and increase processing speed, providing a trading experience similar to CEX while maintaining decentralization.
“DeepBook helps reduce latency and increase liquidity for derivative trading on Sui, expanding the potential of DeFi usage” – Project Director Kriya, 2024.
Director Kriya, 2024
The Lending platform uses DeepBook to aggregate assets from lenders into a common pool, thereby supporting borrowing with competitive interest rates. The application of DeepBook helps DeFi protocols on Sui operate more efficiently and attract a diverse range of users.
Basic information about the DEEP token?
DEEP is the governance and utility token of DeepBook, issued on the Sui blockchain according to the network's specific standards. The total supply of DEEP is 10 billion tokens, with the current circulating supply being 2.5 billion tokens.
Token Name: DeepBook (DEEP)
Blockchain: Sui
Contract: 0xdeeb7a4662eec9f2f3def03fb937a663dddaa2e215b8078a284d026b7946c270
Token Type: Governance and Utility
Total Supply: 10,000,000,000 DEEP
Circulating Supply: 2,500,000,000 DEEP
How is the DEEP token allocated?
The DEEP token is reasonably allocated for ecosystem development and user incentives:
10% allocated for Node rewards
28.43% for main contributors and early supporters
67.57% is used for developing the DeFi ecosystem on Sui
DEEP token allocation by purpose
What is the release schedule for the DEEP token?
25% of the total DEEP supply is initially unlocked, with the remaining released according to a roadmap extending over 7 years to balance supply and ensure sustainable project development.
Detailed DEEP token release schedule by year
What are the main utilities of the DEEP token?
DEEP serves as both a governance token and supports transaction fees within the ecosystem:
Reduce Taker fees when trading volume reaches a threshold, potentially reducing fees by up to 50%
Maker rewards for liquidity providers supporting the pool
Staking DEEP to receive participation rights in reward programs and governance voting
Governance rights based on the amount of DEEP staked, directly affecting protocol parameters
Where do users trade the DEEP token and store it?
The DEEP token is available on many reputable exchanges, supporting convenient trading:
CEX exchanges include Bybit, Gate.io, MEXC, KuCoin
DEX exchanges include Cetus Protocol, Turbos Finance
Storing DEEP can be done through compatible wallets such as Sui Wallet, OKX Wallet, Bitget Wallet, and wallets integrated on the aforementioned exchanges.
What is the current development roadmap of DeepBook?
At the beginning of 2024, DeepBook released its Whitepaper and held its first NFT Airdrop. In Q2 and Q3, the project continued to launch the DEEP token and develop the community through events, gathering feedback to optimize user experience.
Who is the development team behind DeepBook?
DeepBook was co-founded by MoveEx and Sui Foundation, two reputable entities in the cryptocurrency and blockchain field, ensuring technical quality and a strong support network for the project.
Who are the investors and partners of DeepBook?
Investors
Investor information is still being officially updated.
Partners
DeepBook has collaborated with many leading DEX projects on Sui such as Cetus Protocol, KriyaDEX, Aftermath Finance, Turbos Finance, and Typus Finance, helping to expand the reach and applicability of the order book.
List of DeepBook's strategic partners in the Sui ecosystem
Summary
DeepBook is a breakthrough CLOB on the Sui platform, enhancing liquidity, reducing fees, and speeding up transaction processing for DeFi applications. With the multifunctional DEEP token and a reputable development team, DeepBook promises to be the core driving sustainable development for the DeFi ecosystem on Sui.
Frequently Asked Questions
What is DeepBook?
DeepBook is the first centralized limit order book (CLOB) solution on the Sui blockchain, helping to enhance liquidity and reduce transaction fees for DApps.
What functions does the DEEP token serve?
DEEP is a governance and utility token used to reduce transaction fees, reward liquidity provision, stake for governance rights, and participate in reward programs.
How does DeepBook work?
DeepBook uses a shared-object pool model and CLOB technology to handle market and limit orders, ensuring transparent matching and user anonymity.
On which exchanges is DEEP traded?
DEEP is now listed on CEX exchanges such as Bybit, Gate.io, MEXC, KuCoin and DEXs like Cetus Protocol, Turbos Finance.
What are the key applications of DeepBook?
DeepBook supports a variety of DeFi applications such as fast swap DEXs, perpetual contracts, and Lending platforms on the Sui blockchain.
Source: https://tintucbitcoin.com/deepbook-deep-la-gi/
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