Sui-based MovEX and Sui Foundation to join forces for DeepBook
It is reported that the Sui-based Central Limited Order Book (CLOB) DEX DeepBook will be jointly built by the Sui-based MovEX and the Sui Foundation, aiming to…
It is reported that the Sui-based Central Limited Order Book (CLOB) DEX DeepBook will be jointly built by the Sui-based MovEX and the Sui Foundation, aiming to bring deep liquidity to all DeFi agreements on the Sui, and will cooperate with top market makers to provide better liquidity depth, which has also been supported by MystenLabs.
MovEX and Sui Foundation will jointly build DEX DeepBook based on Sui
Interpretation of the news:
In the world of decentralized finance (DeFi), the need for deep liquidity is becoming increasingly important. To address this issue, the Sui-based Central Limited Order Book (CLOB) DEX DeepBook will be jointly built by the Sui-based MovEX and the Sui Foundation. The objective of this collaboration is to provide better liquidity depth for all DeFi agreements on the Sui.
To achieve this goal, DeepBook will be working with top market makers. These market makers are expected to provide additional liquidity to the platform in order to meet the demands of the DeFi ecosystem. The involvement of top market makers is a significant step towards efficient liquidity on the platform.
The move towards collaborating with market makers is further strengthened by the support of MystenLabs. This support is expected to not only help in achieving the objectives of the project, but it is also a signal of trust in the competence of the partners.
The construction of DeepBook is a clear indication that the Sui-based MovEX and Sui Foundation are proactively seeking to address the liquidity constraints that are prevalent in the DeFi space. As the DeFi space continues to grow, it is expected that DeepBook will play a major role in the provision of deep liquidity to not only DeFi agreements on the Sui, but also the broader DeFi ecosystem.
In conclusion, the joint venture between Sui-based MovEX and Sui Foundation to build DeepBook is a significant development in the world of DeFi. The project aims to improve the liquidity of DeFi agreements on the Sui through collaboration with top market makers. The involvement of MystenLabs is another positive development that should further strengthen the project. With the construction of DeepBook, the Sui-based MovEX and Sui Foundation are showing innovation and a proactive approach towards addressing the liquidity challenges that the DeFi space currently faces.
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