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<h4>By now you should be aware of Sui and how it’s on fire. It’s not only the $SUI token, but its whole ecosystem. Recently, Deepbook had its TGE for its native token $DEEP. It is a CLOB or decentralized central limit order book. More on that in a moment. So, what would happen with a new token launch on the Sui Network? Well, $DEEP added fuel to the Sui fire. Within only a few days, it has done a 3x.</h4> 
So, it’s time to take a closer look at Deepbook and its $DEEP token. 
<h5>What Is Deepbook?</h5> 
Let’s first dive in to find out what Deepbook actually is. In a moment, we will take a look at the $DEEP token and its TGE (token generation event). As already mentioned, Deepbook is a CLOB. That’s a decentralized central limit order book. CLOBs accommodate trading between buyers and sellers. It’s used in DeFi, so you find it in a lot of DEXes. It offers fast and cheap trading. Mysten Labs, the team behind Sui, is part of its development team. 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4d2.png" alt="📒" class="wp-smiley" style="height: 1em; max-height: 1em;">A Central Limit Order Book (CLOB) helps create a more transparent, fair, and efficient market by aggregating and prioritizing orders, promoting price discovery, and providing valuable market data. 
 Find out how DeepBook, Sui’s native CLOB, works.<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/vs7sAXkKFd">https://t.co/vs7sAXkKFd</a> 
 — Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1697610288919609503?ref_src=twsrc%5Etfw">September 1, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Deepbook itself doesn’t have a UI. However, you can find it in the back end of plenty of DEXes in Sui’s <a href="https://www.altcoinbuzz.io/category/defi/" target="_blank" rel="noopener">DeFi</a> ecosystem. Think of it as DeFi infrastructure. Some DEXes that use it, are, for example, 
<ul> 
 <li>Turbo Finance</li> 
 <li>Aftermath Finance</li> 
 <li>Cetus Protocol</li> 
 <li>Navi Protocol</li> 
 <li>FlowX aggregator</li> 
 <li>Hop aggregator</li> 
</ul> 
So, almost all DEXes on <a href="https://www.altcoinbuzz.io/?s=sui" target="_blank" rel="noopener">Sui</a> use it. Nonetheless, it still ranks in <a href="https://defillama.com/chain/Sui" target="_blank" rel="noopener">9th spot</a> of all Sui DeFi protocols. That’s despite not having a UI. Together with the $DEEP TGE, also Deepbook V3 launched. This V3 has a couple of new or improved features. For example.&nbsp; 
<ul> 
 <li>Flash loans — Borrow instantly without collateral. You pay the borrowed assets back within the same transaction.</li> 
 <li>Improvements to the current matching engine.</li> 
 <li>Governance — You have a say in how the protocol develops.</li> 
 <li>Improved account abstraction — This makes interacting with DeFi protocols easier.</li> 
 <li>Introduction of the $DEEP token — Staking $DEEP offers extra perks. </li> 
</ul> 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f30a.png" alt="🌊" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/DeepBookonSui?ref_src=twsrc%5Etfw">@DeepBookonSui</a> is 99.58% cheaper than <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw">@coinbase</a>. 
 Nothing comes close to <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a> <a href="https://t.co/O8Ln0asR7W">pic.twitter.com/O8Ln0asR7W</a> 
 — death (@0xd34th) <a href="https://twitter.com/0xd34th/status/1846608560844952027?ref_src=twsrc%5Etfw">October 16, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
V3 also offers lower trading fees and even faster transactions. Furthermore, there’s a 60% cut in gas costs. The picture below shows its architecture. 
<img decoding="async" class="aligncenter wp-image-153216 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-621-MystenLabs_deepbookv3_-Deepbook-V3-github.com_-877x1024.jpg" alt="Deepbook architecture" width="696" height="813" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-621-MystenLabs_deepbookv3_-Deepbook-V3-github.com_-877x1024.jpg 877w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-621-MystenLabs_deepbookv3_-Deepbook-V3-github.com_-257x300.jpg 257w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-621-MystenLabs_deepbookv3_-Deepbook-V3-github.com_-768x896.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-621-MystenLabs_deepbookv3_-Deepbook-V3-github.com_-360x420.jpg 360w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-621-MystenLabs_deepbookv3_-Deepbook-V3-github.com_-696x812.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-621-MystenLabs_deepbookv3_-Deepbook-V3-github.com_.jpg 1030w" sizes="(max-width: 696px) 100vw, 696px"> 
Source: <a href="https://github.com/MystenLabs/deepbookv3" target="_blank" rel="noopener">GitHub</a>&nbsp; 
<h5>The $DEEP token and its TGE</h5> 
The $DEEP token saw its TGE on 14th October. It has a 10 billion max supply. During its TGE, it will unlock 25% of its supply. That are 2.5 billion $DEEP tokens. 10% of the max supply, or 1 billion tokens, was part of an airdrop. See the picture below. 
<img decoding="async" class="aligncenter wp-image-153215 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-622-DeepBook-on-Sui-I-Introduce-DEEP-deepbook.tech_-1024x463.jpg" alt="Deepbook" width="696" height="315" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-622-DeepBook-on-Sui-I-Introduce-DEEP-deepbook.tech_-1024x463.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-622-DeepBook-on-Sui-I-Introduce-DEEP-deepbook.tech_-300x136.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-622-DeepBook-on-Sui-I-Introduce-DEEP-deepbook.tech_-768x348.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-622-DeepBook-on-Sui-I-Introduce-DEEP-deepbook.tech_-1536x695.jpg 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-622-DeepBook-on-Sui-I-Introduce-DEEP-deepbook.tech_-928x420.jpg 928w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-622-DeepBook-on-Sui-I-Introduce-DEEP-deepbook.tech_-696x315.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-622-DeepBook-on-Sui-I-Introduce-DEEP-deepbook.tech_-1068x483.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-622-DeepBook-on-Sui-I-Introduce-DEEP-deepbook.tech_.jpg 1920w" sizes="(max-width: 696px) 100vw, 696px"> 
Source: <a href="https://deepbook.tech/deep-token" target="_blank" rel="noopener">$DEEP</a> 
You could qualify for this airdrop by being active in the Sui ecosystem. For example, by trading on Sui DeFi protocols or staking your $SUI. If you qualified for the airdrop, you received a DBClaimNFT on 28th March. This was a soulbound <a href="https://www.altcoinbuzz.io/category/nft/" target="_blank" rel="noopener">NFT</a>. In other words, you couldn’t trade it or send it to another wallet. Only the receiver could swap it for $DEEP tokens at the TGE.&nbsp; 
During its TGE, $DEEP started trading at 1.3 cents. However, within a day, it went up to 4 cents. That’s an easy 3x. The current<a href="https://www.coingecko.com/en/coins/deepbook" target="_blank" rel="noopener"> $DEEP price</a> is 3.4 cents. It has a market cap of $84.8 million. So, when most Sui tokens saw a bit of red, for a long overdue correction, $DEEP went into overdrive. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/search?q=%24DEEP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DEEP</a> isn’t just deep; it’s mooning. <a href="https://twitter.com/DeepBookonSui?ref_src=twsrc%5Etfw">@DeepBookonSui</a> is a vital part of <a href="https://twitter.com/SuiNetwork?ref_src=twsrc%5Etfw">@SuiNetwork</a>.<a href="https://twitter.com/search?q=%24DEEP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DEEP</a> info: Price: 0.031 +332% Vol: 6.9m Mcap: 79m 
 What do u think about <a href="https://twitter.com/search?q=%24Deep&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Deep</a>? Comment below <a href="https://t.co/NWX3rlH403">pic.twitter.com/NWX3rlH403</a> 
 — Token Insight (@tokeninsight_io) <a href="https://twitter.com/tokeninsight_io/status/1846011819351330876?ref_src=twsrc%5Etfw">October 15, 2024</a>
</blockquote> 
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There are also plenty of rumors about a potential second $DEEP airdrop. For example, there was a two-week-long campaign to test V3 on its testnet. Bankless mentioned that lending LST (Liquid Staking Tokens) may qualify you. So, we don’t know for certain if there will be a second airdrop. However, rumors are making the rounds. 
<blockquote class="twitter-tweet"> 
 Compiling DeepBook ( <a href="https://twitter.com/search?q=%24DEEP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DEEP</a> ) Info &amp; Rumors 
 Past Info <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/25ab.png" alt="▫" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/DeepBookonSui?ref_src=twsrc%5Etfw">@DeepBookonSui</a> executed their 1st Drop via Soul-bound NFT in Q1 of 2024 – Airdropping 10% of their supply to users based on several on-chain behaviour which includes Sui staking, Swapping via Deepbook &amp; LST. 
 Present Info… <a href="https://t.co/c7jb3gb5wW">pic.twitter.com/c7jb3gb5wW</a> 
 — MrBreadSmith.sui (@MrBreadSmith) <a href="https://twitter.com/MrBreadSmith/status/1829778940845814009?ref_src=twsrc%5Etfw">August 31, 2024</a>
</blockquote> 
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Plenty of Sui DeFi protocols integrated $DEEP into their protocols. For example, 
<ol> 
 <li>Cetus: LP Pools of $DEEP</li> 
 <li>Kriya: LP Pools of $DEEP</li> 
 <li>Suilend: Lending Pools of $DEEP. APR was up to 600+%. The current APR is 131%, see the picture below.</li> 
</ol> 
<img decoding="async" class="aligncenter wp-image-153214 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-624-Suilend-Dashboard-suilend.fi_-1024x463.png" alt="Deepbook on Suilend" width="696" height="315" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-624-Suilend-Dashboard-suilend.fi_-1024x463.png 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-624-Suilend-Dashboard-suilend.fi_-300x136.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-624-Suilend-Dashboard-suilend.fi_-768x348.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-624-Suilend-Dashboard-suilend.fi_-1536x695.png 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-624-Suilend-Dashboard-suilend.fi_-928x420.png 928w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-624-Suilend-Dashboard-suilend.fi_-696x315.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-624-Suilend-Dashboard-suilend.fi_-1068x483.png 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/FireShot-Pro-Webpage-Capture-624-Suilend-Dashboard-suilend.fi_.png 1920w" sizes="(max-width: 696px) 100vw, 696px"> 
Source: <a href="https://suilend.fi/dashboard" target="_blank" rel="noopener">Suilend</a> 
So, looking at how the $DEEP TGE played out, we can call it a huge success. 
<h5>Conclusion</h5> 
Sui Network and its ecosystem is currently on fire. So, what would happen if a token launched? Deepbook and its $DEEP token showed us what happened. The $DEEP token mooned within a couple of days after its TGE and did a 3x. We take a closer look at the protocol and its token. 
<a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone wp-image-123700 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a> 
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The post <a href="https://www.altcoinbuzz.io/reviews/sui-deepbook-tge-launch/">Sui — Deepbook TGE Launch</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Sui — Deepbook TGE Launch

Altcoin Buzz

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