Binance Launchpool platform, which acts as a launchpad for Binance’s new projects, has announced its new altcoin project that it will include in its program. Details are as follows…
Binance Launchpool unveils its 34th altcoin project
Binance’s launchpool platform adds support for the Maverick Protocol (MAV) to help collect liquidity and achieve capital efficiency. According to the official announcement, users will be able to join new staking pools from June 14 at 03:00.
Staking pools are divided into two as BNB and TUSD. Users will be able to earn new MAV tokens with their stake in BNB and TUSD, with a pledge to stick to the program for the 25-day period.
Introducing @mavprotocol $MAV on #Binance Launchpool!
Farm MAV by staking #BNB and $TUSD.
➡️ https://t.co/dFQSoz5AxZ pic.twitter.com/18vWiMbtl3
— Binance (@binance) June 13, 2023
Meanwhile, the amount of MAV tokens reserved for early participants was set at 30 million. This amount is roughly 1.5% of the total supply. MAV will have a total token supply of 2 billion.
Finally, MAV will open for trading on Binance very soon. Binance stated that it will activate the following trading pairs if it meets the required liquidity needs.
- MAV/USDT
- MAV/BTC
- MAV/TUSD (will not be subject to transaction fees until further notice)
About the Maverick Protocol (MAV)
Maverick Protocol is an AMM that offers a new infrastructure for decentralized finance and aims to facilitate the most liquid markets for investors, liquidity providers, DAO treasurers and developers. AMM improves capital efficiency by automatically managing concentrated liquidity. It also offers users the possibility to bet on the asset price moving in a certain direction.
Maverick AMM gives liquidity providers the opportunity to customize their liquidity distributions and get better prices. Additionally, it aims to provide more liquid markets, better prices and better opportunities for users in the DeFi space.
The key features of the project are as follows:
- Automatic Market Maker (AMM). The Maverick Protocol has the ability to trade through automated market makers. In this way, users can transact quickly and effectively without being dependent on liquidity providers.
- Concentrated Liquidity Management: The Maverick Protocol optimizes the liquidity pool using concentrated liquidity management. In this way, liquidity distribution is provided more effectively and transaction costs are reduced.
- Staking Possibility: The protocol provides users with staking. Users can stake on different assets and earn profits.
- Advantages to Liquidity Providers: The Maverick Protocol offers several advantages to liquidity providers. These can include liquidity mining programs, commission discounts and special offers. This in turn encourages liquidity providers and increases the liquidity level of the protocol.
- DAO Treasures and Benefits to Developers: The protocol works in harmony with DAO (Decentralized Autonomous Organization) structures. In this way, the development and management of the protocol is done by the community and offers management capabilities related to DAO treasures.
- More liquid markets and better pricing: The Maverick Protocol creates more liquid markets through liquidity providers and automated market makers. This provides users with better pricing and reduces transaction costs.
Beware of these Binance-backed projects
Binance Launchpool-backed altcoin projects generally tend to perform well. We’ve seen examples of this over and over. Do not forget to take a look at the other new projects that Binance has invested in, which we have prepared as Kriptokoin.com.
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