Sui Network Announces Redemption of DBClaimNFT and DEEP Token Launch

Sui Network and DeepBook Protocol have made a thrilling development for above 100K DBClaimNFT holders. Beginning tomorrow, on the 14^th of October, those holding DBClaimNFT can redeem NFTs in return for $DEEP coin allocations. This denotes a significant landmark for DeepBook Protocol with the official launch of its local $DEEP token.

Sui Network to Start DBClaimNFT Token’s Redemption and the Launch of $DEEP Coin

As per the post that Sui Network shared on X, the platform will permit DBClaimNFT holders to redeem non-fungible tokens via a claims website. It added that it will also share the official URL tomorrow. The holders of DBClaimNFT should exercise caution as the trusted links are just shared on the Discord channel and website of DeepBook. Normally, at the token launches, phishing scams take place. The respective precautionary move focuses on guaranteeing that the consumers stay away from experiencing any phishing scam.

Claiming the $DEEP Tokens Will Burn the NFTs of the Holders

Once the people holding DBClaimNFT claim $DEEP coins, their non-fungible tokens will get burned. This will signify the accomplishment of the procedure of token allocation. Those not holding NFTs can get the $DEEP coin for open trading on decentralized and centralized exchanges.

This launch is increasing excitement across the DeepBook and Sui communities. In this respect, $DEEP coins will potentially play a vital role in the ecosystem of DeepBook. The team persuades everyone to stay vigilant to prevent interacting with fake sources to guarantee a secure and streamlined redemption procedure.