Sui-based MovEX and Sui Foundation to Bring Deep Liquidity to DeFi Agreements with Central Limited Order Book (CLOB) DEX DeepBook

03/02/2023 00:04 • Metaverse Matters • 147 views

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

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The world of Decentralized Finance (DeFi) has seen enormous growth in the last few years, as it offers faster and cheaper financial services, making traditional finance systems seem slow and outdated. However, the biggest challenge that DeFi is facing is the lack of liquidity. Solving this problem has become the focus of the industry. In that context, a new development has been reported. The Sui-based Central Limited Order Book (CLOB) DEX DeepBook is to be jointly built by Sui-based MovEX and the Sui Foundation.

The primary objective of the CLOB DEX DeepBook is to bring deep liquidity to all DeFi agreements on the Sui. This will help DeFi services to incorporate more complex financial instruments and products that require deep liquidity. The CLOB will operate as a central order book where market makers can provide liquidity, and traders can exchange tokens at a fair price, providing a clear and transparent picture of the token’s value.

Moreover, to attract top market makers and provide better liquidity depth, CLOB DEX DeepBook will cooperate with industry veterans. The collaboration has already been supported by MystenLabs, the developers of the Mysten blockchain protocol, which is known for its excellence in DeFi technology.

This development is significant for the Sui Blockchain, which has been developing its technology to provide better services for DeFi. With CLOB DEX DeepBook, Sui is establishing itself as a pioneer and leader among DeFi-focused blockchains, providing the much-needed infrastructure for building complex financial products in the DeFi space.

Overall, the creation of CLOB DEX DeepBook is a significant advancement in the DeFi space, as it provides a central location for market makers, increasing transparency and liquidity, enabling the development of complex financial products, and enhancing the overall performance of the DeFi market.

In summary, the innovation will deepen liquidity on the Sui blockchain, making use of advanced infrastructure, strong partnerships, and a centralized order book. All actors in the industry, from DeFi traders to developers, stand to benefit immensely from this development.

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