Question 1

What is DEEP?

Accepted Answer

DEEP is the utility token of DeepBook on Sui. DeepBook is financial infrastructure that provides shared liquidity and a fully on-chain order book; DEEP is used for its fee payments, liquidity incentives, and governance mechanisms for individual pools. Therefore, DEEP is not an automatic claim on equity in a company or on protocol revenue. Its actual role in DeepBook depends on whether users conduct relevant trades, create pools, provide or take liquidity, and participate in governance for the corresponding pool.

Question 2

Which fees can DEEP pay?

Accepted Answer

In DeepBook, DEEP can be used to pay trading fees and pool-creation fees. When trading users or creators carry out the corresponding protocol operations, the fee design uses DEEP as the payment asset; this is a different layer of cost from the network Gas required for Sui itself to execute transactions. The cost ultimately borne by users still depends on the specific operation and the protocol parameters applicable at the time: a trading fee applies to an execution within a given pool, while a creation fee applies to establishing that pool. Simply holding DEEP does not itself incur either type of fee.

Question 3

How is DEEP related to trading liquidity?

Accepted Answer

DEEP liquidity incentives target participants on both sides of the order book: when liquidity is insufficient, the protocol may give rebates to market makers that continuously place orders and provide bid and ask depth; liquidity takers that consume those orders to complete trades may receive discounts based on trading volume. The two arrangements address different parts of the process: market-maker rebates encourage more executable resting orders, thereby improving order-book depth; volume discounts reduce the cost for high-volume liquidity takers. Whether they apply and by how much depends on the relevant pool and protocol conditions, and does not mean that all token holders automatically receive rewards.

Question 4

What governance can DEEP holders participate in?

Accepted Answer

DEEP supports pool-level governance, meaning decisions apply to an individual DeepBook pool rather than automatically taking effect across all pools. Public materials list staking requirements and fees for that pool among the adjustable items. Its voting design uses a quasi-concave mechanism: the goal is to ensure that smaller voters retain meaningful influence without allowing large holders to fully dominate in linear proportion to their holdings. This mechanism describes the design of governance weighting within a pool and should not be interpreted as DEEP providing general control over all DeepBook products or external assets.

Question 5

What is DEEP's maximum supply?

Accepted Answer

DEEP has a maximum supply of 10 billion tokens. Maximum supply is the cap set by the protocol; it does not mean that, at a given point in time, that amount has entered the market, is circulating, is staked, or is immediately tradable. To understand token supply, maximum supply should also be distinguished from actual circulating supply: the former is a cap, while the latter may be affected by historical issuance, locking, or other token states. The 10 billion cap alone cannot be used to infer the market's tradable supply or price at that time.

Question 6

What does the burning of trading fees mean for DEEP supply?

Accepted Answer

DeepBook's public token page labels a portion of DEEP as “burned from trading fees.” Burning causes those tokens to no longer remain available for use as disposable balances, so it should be considered separately from maximum supply, issued supply, and circulating supply. This presentation indicates that the fee mechanism may change the amount of DEEP actually retained, but token price cannot be inferred from the cumulative amount burned alone: price also depends on trading demand, tradable supply, liquidity, and other market conditions.

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