DeepBook, What Is It and Why Does It Matter? DeepBook is Sui’s on-chain liquidity book, crucial for any decentralized exchange operating on Sui. This allows exchanges to pool liquidity, ensuring users get the best prices possible when trading on Sui’s decentralized exchanges (DEXs). DeepBook operates like Elixir, which functions as a liquidity layer for multiple EVM chains, making it a vital infrastructure for DeFi.
The DeepBook Airdrop: A Windfall for NFT Holders
Yesterday, DeepBook had its token generation event (TGE) and launched an airdrop. This saw 10% of its total token supply dedicated to initial airdrop participants. If you’ve been staking Sui since January with us, you likely qualify for the DB Claim NFT. Those who do qualify saw substantial rewards—like my own 26,000 Deep Tokens.
With the token currently rising, my holdings are valued around $800, a testament to the growth potential that DeepBook offers. Claim your tokens today through your Sui wallet if you haven’t already!
Capitalizing on Deep Tokens: What to Do Next?
- Claim Your Tokens: Ensure your Soy wallet shows eligibility and claim your Deep Tokens.
- Consider Taking Profits: Deep Tokens are available on exchanges such as KuCoin, MEXC, Cetus, Gate.io, and Bybit. It’s a personal choice whether to sell or hold.
- Lend Out Deep Tokens: I’m leveraging my Deep Tokens on SoyLend. The current deposit APR stands at 378%, with the added benefit of earning rewards in both Deep Tokens and Sui.
Understanding the Utility of Deep Tokens
Deep Tokens aren’t just for airdrops. They serve vital functions such as:
- Trading Fees: Used to pay for trading and pool creation fees within DeepBook.
- Liquidity Incentives: Offer rebates to market makers and discounts to liquidity takers.
- Governance: Holders have a say in the development of the DeepBook.
The Future of DeepBook and Sui
Stay bullish on the ecosystem! DeepBook’s role as a liquidity layer will grow alongside the Sui ecosystem. If you’re able to partake in the DeepBook Galaxy Quest, you’re in a prime position to earn further rewards through ecosystem initiatives, courtesy of your DB Claim NFT.
Conclusion: Seize the Opportunity
Participating in airdrops like these has been lucrative for those following our guidance from early stages. For ongoing updates, make sure to follow our airdrop tracker spreadsheet and explore other offers. If you’re new to Bybit, check out our referral link below for exclusive bonuses.
https://partner.bybit.com/b/ronboxmining