Sui's ecosystem continues to garner attention, with the recent launch of the $DEEP token adding to the momentum. Just days after its TGE, $DEEP experienced a 3x increase.
What Is Deepbook?
Deepbook is a decentralized central limit order book (CLOB) integrated into Sui, facilitating trading between buyers and sellers in the DeFi space. Mysten Labs, the developers of Sui, are involved in its development. Though it lacks an interface itself, Deepbook is used in the backend of many DEXes on the Sui network.
The $DEEP Token and Its TGE
The $DEEP token began trading on October 14 with a maximum supply of 10 billion tokens, 25% of which were unlocked at the TGE. Its initial price was 1.3 cents, but quickly rose to 4 cents. There are rumors of a potential second airdrop for $DEEP, although it remains unconfirmed.
Conclusion
The launch of the $DEEP token has shown impressive growth, strengthening Sui's position and exhibiting the platform's potential. Sui's ecosystem continues to evolve, offering new opportunities for DeFi.
Sui's ecosystem proves its viability and potential value, with the $DEEP launch serving as a vivid example of the prospects it can offer.