Introducing DEEP
Designed to Power the Next Generation of DeFi
DEEP’s Utility
As the cornerstone of DeepBook, DEEP facilitates seamless transactions, incentivizes liquidity provision, and aligns the interests of all participants in our growing DeFi ecosystem.
Payment
DEEP token is used for payment of trading fees and pool creation fees in DeepBook. By using a native currency, DeepBook offers a cohesive and unified trading experience.
Liquidity
DEEP token enhances trading liquidity within DeepBook pools by offering rebates to market makers during low liquidity periods and volume discounts to liquidity takers. These mechanisms ensure minimal slippage and a robust trading environment, making DEEP ideal for professional traders and institutional investors.
Governance
The DEEP token enables pool-level governance by adjusting staking requirements and fees. Its quasi-concave voting system ensures small voters have a significant voice while preventing governance capture by large holders.
Payment
DeepBook’s upcoming token generation event (TGE) and initial DEEP distribution is a key step towards furthering DeepBook’s position as web3’s preeminent venue for wholesale liquidity. DeepBook’s strategy ensures incentives are aligned so the Sui ecosystem can continue to innovate, build, compete and tailor for the end user.
Token Distribution and Release Schedule
The DEEP tokens are split into three buckets:
10% Initial Community Airdrop
Fully unlocked and distributed at TGE
This portion of the allocation rewards the early adopters and active users who have been instrumental to DeepBook’s success.
28.43% Core Contributors and Early Backers
14% unlocked at TGE, followed by a 7 year unlock.
This allocation represents Core Contributors, who have supported the engineering, infrastructure, security, growth, and operations of the DeepBook Protocol.
61.57% Ecosystem Growth
Fully unlocked and distributed at TGE
This portion of the allocation supports long-term growth of the ecosystem and supports developer grants, community programs and community initiatives.