DeepBook Protocol

DEEP is the fee and governance token of DeepBook, the shared on-chain order book of the Sui blockchain.

DeepBook is an order book that lives on the Sui blockchain. It matches buy and sell orders on-chain, and more than 15 exchanges, wallets and other apps on Sui send their trades through it. The project reports more than $20 billion of cumulative volume. Mysten Labs, the original developer of Sui, built it, and the DeepBook Trading Foundation launched its own trading app on 24 September 2026.

DEEP pays trading fees on DeepBook. Users who stake DEEP in a pool get lower fees, can earn maker rebates and can vote on that pool's fees. DEEP collected as fees and not paid out as rebates is burned; the site showed 125.7 million DEEP burned by October 2026. Supply is capped at 10 billion.

Besides spot trading, DeepBook offers two riskier products. DeepBook Margin lets traders borrow from lending pools, with interest, to trade with leverage. Predict lets users take short-term positions on Bitcoin price levels against a shared pool.