DeepBook Protocol (DEEP) is a decentralised central limit order book (CLOB) built on the Sui blockchain. It serves as a core component of the Sui ecosystem, providing a fully on-chain trading platform. The protocol utilises Sui's parallel execution and low transaction costs to offer high-performance, low-latency trading. DeepBook is designed to provide deep liquidity, enabling better price execution and allowing traders and liquidity providers to have more control over their trading strategies.

DeepBook Protocol functions as a wholesale liquidity layer for the Sui blockchain, catering to both institutional traders and DeFi protocols. It enables seamless on-chain trading with minimal slippage and supports high-frequency trading due to its robust and scalable infrastructure. Additionally, DeepBook facilitates staking-based governance, where DEEP token holders can participate in decision-making processes, and users benefit from reduced trading fees. The protocol aims to be a central venue for DeFi liquidity on the Sui network.

DeepBook Protocol was developed with contributions from MovEx and is integrated into the Sui ecosystem as a public good.