.SuiNetwork announced the release of DeepBook, a central limit order book that allows crypto traders to view order flow and market depth on Sui.
that supports applications built on the network and allows traders to set a specific price for an asset in the same way as on centralized exchanges. protocols that feature automated market makers , whilst enhancing trading functionality on Sui.such as Uniswap and Sushiswap, which offer straight token swaps.
“DeepBook provides the essential financial foundation for every DeFi tool built on Sui," said Greg Siourounis, managing director of the Sui Foundation."Combined with the scalability and composability built into the Sui Network, DeepBook offers developers the chance to build applications that are simply not possible on other networks.”
After its mainnet went live in May, Sui, which was founded by former employees of Meta Platforms , spiked to $36 million in total locked value on the network. The amount has since slumped to $13 million, according toFrom a structural perspective, DeepBook contains a core matching engine and a smart order routing engine that acts in the same way as centralized exchanges. The order book will provide traders with a view of market depth and order flow.
Sui's native token is trading at around $0.67 at press-time, 50% lower than when it debuted in May, according to
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