Starting October 14, DBClaimNFT holders will have the opportunity to redeem their NFTs for an allocation of DEEP tokens. This marks a major milestone for DeepBook Protocol, a DeFi platform with $29 million in value locked (TVL) on the Sui ecosystem.

Sui Network will start the DBClaimNFT token redemption process

According to an announcement from Sui Network on the X platform, DBClaimNFT holders will be able to redeem NFTs through a request website. They also announced that they will announce the official URL on October 14. DBClaimNFT holders should be cautious, as trusted links are only shared via the Discord channel and DeepBook's website.

During token launches, phishing scams often occur, so this precaution is to protect users from potential risks.

Bitcoin Magazine will update the website information for you here when there is official information from Sui.

Claiming DEEP tokens will result in the destruction of the holder's NFT

When DBClaimNFT holders claim DEEP tokens, their NFTs will be destroyed, marking the completion of the token distribution process. Non-NFT holders can still purchase DEEP tokens for free trading on centralized and decentralized exchanges.

The launch event is creating excitement in the DeepBook and Sui communities. DEEP is expected to play an important role in the DeepBook ecosystem. The development team recommends that everyone stay vigilant to avoid interacting with fake information sources, to ensure the token exchange process is safe and efficient.

Source: https://tapchibitcoin.io/sui-network-publicizes-the-process-of-renewing-dbclaimnft-token-deep-for-users.html