How much is the DeepBook Protocol (DEEP) currency issued?

The DEEP token, issued on Ethereum with a supply of 100,000,000, empowers content creators and readers within the DeepBook Protocol's decentralized publishing ecosystem.

Dec 24, 2024 at 08:04 am

Key Points:

• DeepBook Protocol is a blockchain-based decentralized publishing platform.
• The DEEP token is the native utility token of the DeepBook Protocol.
• DEEP is issued on the Ethereum blockchain with a total supply of 100,000,000 tokens.

Article:

Total Issuance of DeepBook Protocol (DEEP) Currency

The DeepBook Protocol is a blockchain-based decentralized publishing platform that aims to empower authors and readers by providing a transparent and efficient platform for content creation and distribution. The DEEP token is the native utility token of the DeepBook Protocol, and is used for various purposes within the ecosystem, including content creation, curation, and governance.

DEEP is issued on the Ethereum blockchain (ERC-20 standard), and has a total supply of 100,000,000 tokens. The DEEP token was initially distributed through a token generation event (TGE) in 2018, and is currently listed on several cryptocurrency exchanges.

Distribution of DEEP Tokens

The DEEP tokens are distributed as follows:

• 50% - Ecosystem Foundation: This allocation is used to support the growth and development of the DeepBook Protocol ecosystem, including funding research, development, and marketing.
• 20% - Team: This allocation is reserved for the DeepBook Protocol team, to reward their contributions to the project.
• 15% - Community: This allocation is distributed to the DeepBook Protocol community through airdrops, bounties, and other incentive programs.
• 10% - Advisors: This allocation is reserved for advisors and early supporters of the DeepBook Protocol.
• 5% - Reserve: This allocation is held in reserve for future use, such as partnerships, acquisitions, or other strategic initiatives.

Use Cases of DEEP Tokens

The DEEP token has several use cases within the DeepBook Protocol ecosystem, including:

• Content Creation: Authors can stake DEEP tokens to create and publish content on the DeepBook Protocol. The amount of DEEP staked determines the visibility and reach of the content.
• Curation: Readers can stake DEEP tokens to curate content on the DeepBook Protocol. By staking DEEP, readers can earn rewards for identifying and promoting high-quality content.
• Governance: DEEP token holders can participate in the governance of the DeepBook Protocol through the DeepBook DAO (Decentralized Autonomous Organization). DEEP holders can vote on proposals to shape the future of the platform.
• Staking: DEEP token holders can stake their tokens to earn rewards. The rewards are paid in DEEP tokens, and the amount of rewards earned is proportional to the amount of DEEP staked and the duration of the stake.

Conclusion

The DeepBook Protocol is a promising project that aims to revolutionize the publishing industry by providing a transparent, efficient, and user-centric platform for content creation and distribution. The DEEP token plays a key role in the DeepBook Protocol ecosystem, and its various use cases provide value to all stakeholders, including authors, readers, curators, and governance participants.

FAQs:

• What is the total supply of DEEP tokens?
  The total supply of DEEP tokens is 100,000,000.
• Where can I buy DEEP tokens?
  DEEP tokens can be purchased on several cryptocurrency exchanges, including Uniswap, Gate.io, and Hotbit.
• What is the current price of DEEP tokens?
  The current price of DEEP tokens can be found on websites or applications that track cryptocurrency prices.