Sui Network and DeepBook Protocol have unveiled an exciting opportunity for more than 100,000 holders of DBClaimNFT. Starting on October 14, these holders can redeem their NFTs in exchange for $DEEP coin allocations, marking a key milestone for DeepBook Protocol with the official launch of its native $DEEP token

How to Redeem Your DBClaimNFT for $DEEP Tokens

According to a post from Sui Network on X, DBClaimNFT holders will be able to redeem their NFTs through a designated claims website. The official URL for the site will be shared tomorrow, but the platform has emphasized that the only trusted links will be shared through DeepBook’s Discord channel and official website. This step is crucial to protecting users from potential phishing scams, which are common during token launches.

What Happens When You Claim $DEEP Tokens?

Once a DBClaimNFT holder redeems their tokens, their NFT will be burned, finalizing the token allocation process. For those who don’t currently hold a DBClaimNFT, $DEEP tokens will be available for open trading on both decentralized and centralized exchanges. This provides an alternative way to participate in the ecosystem for new and existing users.

With excitement building around the $DEEP token launch, Sui Network and DeepBook are urging users to stay vigilant against phishing attempts. Scammers often take advantage of the buzz surrounding token launches, and users should only interact with links shared on official platforms to ensure a smooth and safe redemption process.

The Role of $DEEP in the DeepBook Ecosystem

The $DEEP coin is expected to play a crucial role in the future of DeepBook Protocol, further enhancing its ecosystem and providing new opportunities for users. As the community gears up for this next phase, both Sui Network and DeepBook are encouraging users to follow official channels closely to avoid any mishaps during the redemption process.
This launch signifies a major development for both Sui and DeepBook communities, offering NFT holders a new way to engage with the platform while reinforcing the importance of security and awareness in the fast-evolving world of Web3.