How much is the circulation of DeepBook Protocol (DEEP) coins?

Despite market challenges, DeepBook Protocol (DEEP) maintains stability and utility within its decentralized social media ecosystem, offering users data control and rewards for participation.

Dec 23, 2024 at 02:38 am

Key Points:

• Understanding the Pre-sale and Tokenomics of DeepBook Protocol (DEEP)
• Calculating Circulating Supply and Market Valuation
• Current Market Trends and DEEP's Position

Understanding the Pre-sale and Tokenomics of DeepBook Protocol (DEEP)

DeepBook Protocol (DEEP) conducted a successful pre-sale in 2021, raising $4.5 million. The total supply of DEEP is capped at 2 billion tokens, with an initial circulating supply of 500 million. The token distribution is as follows:

• Team and advisors: 20%
• Pre-sale investors: 15%
• Ecosystem development: 15%
• Treasury: 15%
• Marketing and operations: 10%
• Seed investors: 10%
• Liquidity: 10%

Calculating Circulating Supply and Market Valuation

The circulating supply of DEEP refers to the number of tokens currently available for trading in the market. As of March 2023, the circulating supply is estimated to be around 550 million. This figure represents about 27.5% of the total supply.

The market valuation of DEEP is calculated by multiplying the circulating supply by the current market price. At the time of writing, the price of DEEP is around $0.05. This gives DEEP a market valuation of approximately $27.5 million.

Current Market Trends and DEEP's Position

The cryptocurrency market has been experiencing a downturn since late 2021, with many tokens losing a significant portion of their value. DEEP has not been immune to this trend, but it has performed better than many of its peers. This is partly due to the strong use case for DEEP within the DeepBook ecosystem.

DeepBook is a decentralized social media platform that aims to revolutionize the way people connect and share content. By leveraging blockchain technology, DeepBook enables users to control their own data and privacy, while also earning rewards for their participation.

DEEP is used as the native token within the DeepBook ecosystem. It is used for various purposes, such as:

• Paying for platform fees
• Earning rewards for content creation and curation
• Voting on governance proposals
• Staking to earn rewards

Frequently Asked Questions (FAQs)

What is the total supply of DEEP tokens?
The total supply of DEEP is 2 billion tokens.

What is the circulating supply of DEEP tokens?
The circulating supply of DEEP is approximately 550 million tokens.

What is the market valuation of DEEP?
The market valuation of DEEP is approximately $27.5 million.

What is the use case for DEEP tokens?
DEEP tokens are used as the native currency within the DeepBook ecosystem, for purposes such as paying fees, earning rewards, and participating in governance.