How to Claim DeepBook Airdrop Tokens
- Susan SarandonOriginal
- 2024-10-26 07:10:20716browse
DeepBook is a platform that helps people trade cryptocurrency on the Sui blockchain. It's a decentralized liquidity layer, meaning it connects buyers and
DeepBook, a decentralized liquidity layer on the Sui blockchain, airdropped DBClaimNFTs to early supporters on Mar. 28. These NFTs serve as claims for DEEP tokens, which became available upon the token's launch on the Sui mainnet on Oct. 14. Here's a guide on how to claim the airdropped tokens.
To participate in the DeepBook airdrop, follow these steps:
1. Visit the DeepBook claims site and connect your Sui wallet.
2. You'll see a list of NFTs in your wallet that are eligible for the airdrop. Select the ones you want to claim and click "Unwrap."
3. Confirm the transaction in your Sui wallet, and your DEEP tokens will be credited to your wallet address.
The token supply and distribution plan for DeepBook includes a total supply of 10 billion DEEP tokens. The distribution is spread out over seven years to ensure sustainability and stability within the platform.
At launch, 2.5 billion tokens entered circulation, enabling participation in trading and staking activities. Notably, 61.57% of the tokens are allocated for ecosystem development and liquidity provider rewards, while 28.43% are reserved for early contributors and developers. Finally, 10% of the tokens were distributed through the initial airdrop in the form of DBClaimNFTs.
The DEEP token serves several crucial functions within the DeepBook platform:
- Governance: DEEP token holders can participate in the governance of the DeepBook protocol by voting on proposals and shaping the platform's future.
- Staking Rewards: Users who stake their DEEP tokens in the Sui liquidity pools contribute to the network's security and earn SXP (Sui experience points) and trading fee rewards in return.
- Trading Fee Discount: Traders who pay their trading fees in DEEP tokens enjoy a 50% discount on the standard fee rates, making it more cost-effective to trade on the platform.
- Liquidity Incentives: Liquidity providers who add Sui stablecoins (USDC, USDT) to the Sui liquidity pools and stake their LP (liquidity provider) tokens in the DeepBook contract earn DEEP tokens as an additional reward.
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