what's deepbook protocol?
DeepBook is a decentralized central limit order book (CLOB) protocol built on the Sui blockchain, designed to provide high-throughput, low-latency trading with fully on-chain order matching. It serves as a foundational liquidity layer for DeFi applications on Sui, enabling seamless integration for DEXs, perps, and other trading platforms. Key features include pooled liquidity, zero gas fees for end users, ultra-low latency execution, and composability across the Sui ecosystem. The native token $DEEP governs the protocol and incentivizes liquidity provision. DeepBook aims to deliver CEX-like performance in a decentralized environment, powering billions in trading volume.
DEEP token gained 41% in early 2026, ranking as a top-performing DEX token.
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DEEP token gained 41% in the first two weeks of 2026, ranking among top-performing DEX tokens during the period.
Volume exceeded $16B milestone with $29M daily volume and 20M users burning tokens through transactions.
The protocol has processed over $15 billion in total volume since mainnet launch.
Listed among projects yet to have Token Generation Event in 2026.
Transaction rebates on DeepBook net approximately 0.0004955 SUI per transaction.
Ranks #2 in DeFi projects by development activity with no change in position since last month.
Ranks #9 in overall crypto development activity for the past 30 days with a downward rank movement since the previous month.
Scallop protocol includes ~32,000 sDEEP in its weekly borrowing incentive program alongside other Sui ecosystem tokens, offering up to 4x APR boost for veSCA holders.
Lotus Finance achieves 36× capital efficiency on DeepBook with $1.13M traded using just $17K TVL.
As of November 3, 2025, DeepBook achieves $1.2B daily volume with 68% from YLDS trading pairs, while YLDS vault TVL reaches $180M. YLDS integrates as the base quote asset for margin trading, allowing stablecoins to auto-swap and earn yield.
Momentum Finance outperforms DeepBook in TVL and trading volume on Sui Network as MMT token gets first spot listing on Binance.
Ranks #2 in DeFi projects by development activity with unchanged positioning since last month per Santiment.
DeepBook joins BTCFi Live event on October 31 at 7am PT with Lombard Finance, TheTNetwork, BitlayerLabs, satlayer, and MMTFinance to discuss Bitcoin development on Sui.
Lotus Finance launches as a new Decentralized Market Maker on DeepBook CLOB DEX, with a Twitter Space scheduled for November 11th at 1pm EST to discuss market maker operations.
Mysten Labs announces strategic shift to internalize DeepBook's DeFi operations with their own market makers and redirect funding from DeFi applications to frontend development, while cutting ecosystem incentives.
Development activity ranks #7 among all crypto projects over the past 30 days, down from the previous month according to Santiment metrics.
Market makers remained on the platform last Friday, maintaining liquidity operations.
Sui Network launches YLDS, a regulated yield product backed by U.S. Treasuries that serves as yield-bearing collateral for DeepBook margin and lending operations and enables fiat on/off ramps for the ecosystem.
Development ranking improves to #2 among DeFi projects per Santiment metrics, up from #5 previously.
Two native stablecoins (USDi and suiUSDe) launching on Sui in partnership with Ethena and backed by BlackRock's BUIDL fund, expected to increase DeepBook's liquidity and stablecoin trading pairs.
Institutional collaboration event scheduled with Grayscale for September 4th.
DEX trading volume reaches new all-time high
Margin trading feature launching soon on platform.
Ranks #5 in crypto development activity over past 30 days according to Santiment metrics.
17.7M DEEP tokens burned from accumulated trading fees, reducing circulating supply.
Achieves unicorn valuation while maintaining 100% founder retention.
New Nasdaq-listed treasury vehicle launches with $450M holdings, expanding institutional access.
Grayscale launches institutional investment trust for DEEP token, enabling direct institutional exposure.
Receives Grayscale recognition, indicating potential institutional adoption pathway.
$100K DEEP token distribution event ends August 13 at 14:00 UTC on Kraken App.
Margin trading functionality launching on protocol, expanding DeFi capabilities across Sui ecosystem.
New integration with Lotus Finance introduces strategy-powered vaults for high-efficiency yield generation.
Development activity rebounds from 8th to 2nd position among DeFi projects.
New 12-hour trading rewards program launches June 20 offering up to 1,000 Loot Boxes + 2,000 USDC for volume tiers $10K-$2M
New technical upgrade extends beyond basic cancel prioritization to discourage toxic flow without compromising existing infrastructure.
Token leads Kraken Pro perpetual markets with 15.3% daily gain
Development activity ranking drops from 2nd to 8th position among crypto projects.
Scallop launches week-long borrowing incentives offering 268K sDEEP and rewards across 7 pools starting June 2.
Achieves second position among top 10 DeFi projects by development activity with upward trajectory.
New spot market launches for token alongside 5 other Sui ecosystem assets.
New $500K SUI ecosystem trading campaign launches with 35,000 winner slots, featuring token as eligible asset. Ends June 5.
Bluefin platform reaches new ATHs in supplies ($120.6M) and borrows ($48.3M) while launching boosted rewards
The $500,000 trading incentive program with 35,000 winner slots will end on June 5.
Major v3.1 upgrade launches with permissionless pools and lower fees, enabling easier DeFi integration.
New $500,000 trading incentive program launches with 35,000 winner slots, requiring minimum $100 deposit or $50 trading volume.
New yield farming program launches with 4x boost mechanism and multi-token rewards including 277,000 sDEEP tokens.
Native CLOB achieves $500M+ in trading volume, demonstrating significant market adoption.
Trading competition offering $10,000 USDC prize pool ends May 4, with $1,000 USDC for each top 10 traders by volume.
Trading competition launches with $15K prize pool for $DEEP/$SUI/$NS pairs, ending May 4, accompanied by additional trading incentives.
Token shows strong momentum with top 100 market cap entry and 13% daily gain.
New trading competition launches with $20,000 USDC prize pool and bonus blocks, running April 30-May 7.
Rises to #7 position among most active crypto projects by development activity, showing upward momentum in technical progress.
Protocol generates revenue from $500M+ quarterly trading volume with sustainable reward mechanism based on real usage.
Token shows 145% price increase over 7 days, leading all tracked assets as top gainer.
150% weekly price increase driven by new exchange listings and ecosystem growth, with notable whale accumulation.
$DEEP ranks #4 on CoinMarketCap's weekly top gainers list.
New trading competition offers $20,000 USDC prize pool plus additional $10,000 for top traders, running April 28-May 4.
Decentralized orderbook achieves $6B total volume with current daily volume of $38M.
Token gains 106% in 7 days, ranking #10 among top performers
Achieves highest TVL growth rate (+63.8%) among Sui protocols over past 30 days.
Token price surges 100% in 7 days while maintaining active yield farming programs with high APY rewards.
Active yield farming opportunity with 1,673% APY on MMT platform plus upcoming airdrop rewards.
Level 2 infrastructure token providing cross-chain decentralized liquidity, classified as commodity-type infrastructure for potential ETF inclusion.
Active profit-taking at 50% with stop-loss moved to $0.15 for long positions.
$DEEP surges 52% in 24h while being highlighted as one of Mysten Labs' three unicorn projects
Token surges 68% to lead all major alt coins during broader crypto market rally.
Token surges 75% reaching $2B fully diluted valuation amid broader Sui ecosystem rally.
Token listed on tier 1 exchanges, driving 67% price increase over past week.
Currently leading daily crypto gainers according to CoinMarketCap data.
New futures trading pair launches on Binance Futures.
Major exchange expansion with new spot and futures listings on Binance and Upbit.
New borrowing pool offers 120% APR for $DEEP token on Scallop platform.
On-chain CLOB achieves 390ms trade finality while showing market strength during broader crypto decline.
DEEP/KRW trading pair launches on Upbit, South Korea's largest crypto exchange, on April 22 at 14:30 KST.
New staking incentive program launches with 280,000 sDEEP tokens allocated for rewards.
Major protocol upgrade introduces permissionless pools and discounted fees, enabling better price efficiency.
New Upbit listing of BTC and USDT trading pairs drives 8% price increase in 24 hours.
Previously profitable arbitrage opportunities between multiple DEXes require new implementation to remain viable.
Token now available on Scallop platform as Emerging Asset with new yield opportunities.
Trading at $2.5B market cap, one of three projects unaffected by market dump on Feb 3rd 2025.
Described as a "pretty huge airdrop" that few people received.