Sui Network has announced an exciting development for over 100,000 DBClaimNFT holders. Starting tomorrow, these holders will be able to redeem their NFTs in exchange for $DEEP coin allocations. This marks a significant milestone for DeepBook Protocol, as it officially launches its native $DEEP token.
According to a post shared by Sui Network, DBClaimNFT holders will be able to redeem their non-fungible tokens through a claims website. The official URL for the redemption process will be shared tomorrow. It is important for holders to exercise caution, as trusted links will only be shared on the Discord channel and website of DeepBook. This precautionary measure aims to protect users from phishing scams that often occur during token launches.
Once DBClaimNFT holders claim their $DEEP coins, their NFTs will be burned. This signifies the completion of the token allocation process. Those who do not hold NFTs can still acquire $DEEP coins for trading on both decentralized and centralized exchanges.
The launch of $DEEP coins has generated excitement among the DeepBook and Sui communities. These coins are expected to play a significant role in the DeepBook ecosystem. The team encourages everyone to remain vigilant and avoid interacting with fake sources to ensure a secure and smooth redemption process.