How to get DeepBook Protocol (DEEP) coins

DEEP coins, accessible through exchanges and DEXs like Binance, KuCoin, Uniswap, and 1inch, serve multiple functions within the DeepDAO ecosystem, underpinning governance, staking, and fee payments.

Dec 22, 2024 at 02:18 am

Key Points:

• DEEP is an ERC-20 token native to the DeepDAO decentralized autonomous organization (DAO).
• DEEP tokens serve several functions within the DeepDAO ecosystem, including governance, staking, and fee payments.
• Multiple avenues exist for acquiring DEEP coins, such as through exchanges, decentralized exchanges, and staking rewards.
• Storage of DEEP coins is possible in non-custodial wallets that support ERC-20 tokens.
• As of January 18, 2023, DEEP was not ranked among the top 1000 cryptocurrencies by market capitalization.

How to Get DEEP Coins

1. Purchase from Exchanges

• Binance: Binance is the largest cryptocurrency exchange by volume and lists DEEP with trading pairs against USDT, BUSD, and BTC.
• KuCoin: KuCoin also lists DEEP with trading pairs against USDT and BTC.
• Gate.io: Gate.io supports DEEP trading against USDT and ETH.

2. Acquire from Decentralized Exchanges (DEXs)

• Uniswap: Uniswap is a decentralized exchange built on Ethereum and offers a DEEP/ETH trading pair.
• 1inch Exchange: 1inch Exchange is an aggregator of DEXs that searches for the best prices for DEEP/ETH trades.

3. Earn as Staking Rewards

• DeepDAO Staking: Users can stake DEEP tokens within the DeepDAO platform to earn rewards.
• Liquidity Provider (LP) Staking: Users can provide liquidity to DEEP trading pairs on Uniswap or other DEXs and earn trading fees as rewards.

Storing DEEP Coins

• MetaMask: MetaMask is a non-custodial browser extension wallet that supports ERC-20 tokens like DEEP.
• Trust Wallet: Trust Wallet is a mobile wallet app that supports a wide range of cryptocurrencies, including DEEP.
• Ledger Nano X: Ledger Nano X is a hardware wallet that provides secure offline storage for DEEP and other crypto assets.

FAQs

Q: What is the use case for DEEP tokens?
A: DEEP tokens are used for governance, staking, and fee payments within the DeepDAO ecosystem.

Q: Is DEEP a good investment?
A: The potential return on investment for DEEP depends on market conditions and the growth of the DeepDAO ecosystem.

Q: What is the supply and distribution of DEEP tokens?
A: The initial supply of DEEP tokens was 100 million, with 50% allocated to the community, 25% to the team, and 25% to investors.

Q: Are there any fees associated with DEEP transactions?
A: Yes, DEEP transactions may incur gas fees on the Ethereum network, depending on the congestion at the time of the transaction.

Q: How can I participate in the DeepDAO governance process?
A: DEEP token holders can participate in DeepDAO governance by voting on proposals and submitting their own proposals for consideration.