DeepBook is a platform that helps people trade cryptocurrency on the Sui blockchain. It’s a decentralized liquidity layer, meaning it connects buyers and sellers without needing a centralized exchange like traditional stock markets. DeepBook launched its airdrop on Mar. 28 this year by distributing DBClaimNFTs to early supporters. These NFTs act as claims for DEEP tokens and must be unwrapped when the token goes live.
On Oct. 14, the DEEP token officially launched on the Sui mainnet, allowing users to convert their NFTs into liquid tokens via a claims site.
DeepBook announced the launch of DEEP token. Source: XHow to Claim DeepBook Airdrop Tokens
To participate in the DeepBook airdrop, follow these steps:
Visit the Claims Site: Go to the official DeepBook platform or related announcements. Connect Your Wallet: Ensure your MetaMask or Trust Wallet is ready for transactions. Authorize Transactions: Verify the claim by signing the prompt through your wallet. Burn DBClaimNFTs: The NFTs will burn upon successful conversion to DEEP tokens.Token Supply and Distribution
Moreover, the total supply of DEEP tokens is 10 billion, and the distribution is planned over seven years. This gradual release helps control inflation and ensures stability within the platform.
At launch, 2.5 billion tokens entered circulation, allowing participants to begin trading and staking activities. The DeepBook airdrop distribution strategy reflects a focus on sustainability, with 61.57% of tokens allocated for ecosystem development and rewards for liquidity providers. Additionally, 28.43% reserved for early contributors and developers, and the remaining 10% distributed through the initial airdrop in the form of DBClaimNFTs.
The Utility and Purpose of DEEP Tokens
In addition, the DEEP token is essential for several functions within the DeepBook platform:
Fee Payments: Traders use DEEP tokens to pay for transaction fees. Incentives for Market Makers: Liquidity providers earn DEEP tokens for maintaining liquidity in the pools. Governance: Token holders participate in voting on key decisions, such as fee structures and liquidity policies. Staking Mechanism: Users can stake their DEEP tokens to access fee discounts and participate in governance more actively.The post DeepBook Airdrop: Key Details and How to Claim Token appeared first on CoinChapter.
