Sui Foundation Initiates Grant Program for DeepBook Development

The Sui Foundation has announced a new initiative to bolster the development of DeepBook, its native liquidity layer, through a targeted grant program. This move aims to enhance DeepBook's utility within the Sui ecosystem by funding innovative projects that align with its goals, according to Sui Foundation.

DeepBook's Role in Sui's Ecosystem

Launched in 2023, DeepBook serves as Sui's first native liquidity layer, designed as a decentralized central limit order book. It supports both market and limit orders, thereby playing a crucial role in the decentralized finance (DeFi) landscape on the Sui network. As a public good, DeepBook is instrumental in facilitating seamless financial transactions within the community.

Grant Program Structure

The Request for Proposals (RFP) program introduced by the Sui Foundation seeks to drive impactful development by funding projects that address specific challenges within the ecosystem. Each RFP defines a clear focus area, encouraging developers to propose solutions that directly contribute to the protocol's growth.

The application process is structured to ensure transparency and effectiveness. Developers interested in participating can submit their proposals during a defined application window, with the current deadline set for December 31, 2024. Each proposal undergoes a rigorous review process, where a dedicated committee assesses alignment with RFP requirements and feasibility before shortlisting candidates for funding.

Path to Funding

Once shortlisted, candidates undergo identity verification to maintain transparency and accountability. Successful applicants will enter into a grant agreement outlining project milestones, deliverables, and timelines. This agreement marks the commencement of the development phase, enabling builders to start their projects.

Opportunities for Developers

The DeepBook RFP program is now live, inviting skilled developers, community members, and innovators to contribute to the Sui ecosystem's evolution. The initiative offers numerous opportunities for seasoned builders and fresh thinkers alike to explore and propose solutions that enhance the protocol's capabilities.

As the Sui Foundation continues to support decentralized finance growth through strategic funding, this program represents a significant step towards fostering innovation and collaboration within the community. Interested participants are encouraged to visit the application page to learn more about the possibilities and contribute to the future of DeFi on Sui.