MovEX and Sui Foundation will jointly build DEX DeepBook based on Sui

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.

Interpretation of this information:

The message outlines the establishment of a new project, the Sui-based Central Limited Order Book (CLOB) DEX DeepBook, that will be established by the collaboration between two organizations, the Sui-based MovEX and the Sui Foundation. The primary objective of this project is to augment the liquidity of all Decentralized Finance (DeFi) agreements on the Sui platform. To achieve this goal, the project will work in collaboration with market makers to provide enhanced liquidity depth. Therefore, the project aims to augment the overall trading functionality and liquidity, thus contributing to creating a robust and stable financial infrastructure for the DeFi industry.

MovEX and the Sui Foundation have identified the critical issue of liquidity gaps in DeFi protocols, which can cause trading volumes to suffer significantly. This shortage of liquidity can, in turn, reduce the capital efficiency and returns on investment for DeFi traders. Therefore, the CLOB DEX DeepBook project will bring critical benefits to the DeFi industry by providing better liquidity depth through top market makers’ cooperation. The project’s successful implementation will allow DeFi traders to trade large orders without incurring significant slippages.

The message reveals that the CLOB DEX DeepBook project’s success will be supported by MystenLabs, which adds to their list of several other projects that they have partnered with to provide technical support. The partnership with MystenLabs is significant as they bring a wealth of technical knowledge and experience to the collaboration that will ensure the project’s success. Combined with their expertise and resources, the CLOB DEX DeepBook could become a vital component of the DeFi industry in the Sui ecosystem.

In conclusion, the message emphasizes the importance of liquidity in enhancing DeFi trading functionalities and system efficiency. The CLOB DEX DeepBook is expected to resolve the critical liquidity gaps in the DeFi industry by providing a platform where top market makers collaborate to bring better liquidity depth. The collaboration between MovEX and the Sui Foundation and the support of MystenLabs to ensure the project’s success suggest the industry’s continued growth and maturation of DeFi trade infrastructure.