The Maverick protocol will be available on the Binance Launchpool as the latest project to launch after the Sui blockchain in April.
Binance has it foot The latest project on Binance Launchpool, Maverick Protocol (MAV). Maverick Protocol, the 34th project on the Binance Launchpool platform, is a decentralized exchange (DEX) that helps liquidity producers achieve their capital efficiency goals regardless of their liquidity provision (LP) strategy.
According to the official Binance announcement, interested users can farm Maverick Protocol (MAV) tokens by placing TUSD and BNB into different pools. After the cultivation period, Binance says it will list the MAV once the tokens meet liquidity requirements.
The available trading pairs upon initial listing will be MAV/BTC, MAV/TUSD, and MAV/USDT. The MAV/TUSD trading pair will allow users to enjoy zero maker fees. Binance will announce the date and time as appropriate.
MAV token farming will begin on Wednesday 14th June at 00:00 (UTC) and end on Saturday 8th July at 23:59 (UTC).
Maverick protocol details on the Binance platform
The Maverick protocol has a total token supply of 2,000,000,000 MAVs and will offer a Binance Launchpool token reward of 30,000,000. This equals 1.5% of the total token supply. The initial circulating supply at launch will be 12.5% of the total token supply, which is equivalent to 250,000,000 MAV. At the moment, there is no upper limit on storage. Therefore, users who have met the KYC requirements can participate as much as they want.
Binance will calculate user rewards using snapshots of users and total pool balances captured and update hourly. After calculations, each user may accumulate rewards or submit multiple claims as calculated to receive their rewards at any time in their instant account. However, any user who does not initiate claims will have their rewards automatically deposited into their instant account at the expiration of each farming period.
Binance restricts users to placing tokens in one pool at a time. A user cannot have the same tokens in multiple pools but can split their tokens into different pools at the same time. Also, Binance will constantly display each pool’s total balance and annual percentage return (APY), with both updated in real time. Anyone can decide to remove their funds from one pool and participate in another pool immediately.
Users who already hold BNB hostage in the BNB Vault automatically benefit from the Maverick protocol launch kit. These users will receive daily rewards calculated as MAV in their wallets.
Binance Last Launched SUI
In April, Binance launched Sui (SUI) as the 33rd project on the launchpad. Sui is a Layer 1 DPoS (Delegated Proof of Stake) blockchain that uses the Move programming language to write secure smart contracts. The Sui blockchain promises high throughput and instant settlement for many next-generation decentralization applications. The Sui had a much higher total token supply, at 10,000,000,000 SUI. Like Maverick, users also enjoyed zero maker fees on the SUI/TUSD trading pair at the time of its launch.
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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify cryptocurrency stories down to the bare essentials so that anyone anywhere can understand without much background knowledge. When he’s not deep into cryptocurrency stories, Tolo enjoys music, loves to sing, and is a movie lover.
