DeepBook

DeepBook is a central limit order book (CLOB) running on the Sui blockchain, in which buy and sell orders are matched entirely on-chain. Rather than an exchange aimed at end users, it is designed as a shared infrastructure layer that decentralized exchanges, wallets and other applications on Sui use as a source of liquidity. DEEP is the protocol token issued on Sui.

Whereas in automated market makers the price is set by a formula, in DeepBook market makers place limit orders at specific price levels, and orders are matched by price and time priority. Sui's parallel transaction execution architecture helps this model run on-chain at reasonable cost. DEEP can be used to pay the protocol's trading fees; users who stake DEEP can benefit from lower fees or maker rebates and take part in governance votes on parameters such as pool-level fees.

The main factors that may affect the DEEP price are trading volume through DeepBook, the overall growth pace of the Sui ecosystem, the structure of fees and staking rewards, token unlocks and competition with other Sui DEXs. On this page, Lzzo.com uses DefiLlama's dollar-based reference price; the historical values in the chart also come from DefiLlama.