Binance Announces Maverick Protocol as 34th Project on Binance Launchpool

The Maverick Protocol will be available on the Binance Launchpool as the newest project launched after the Sui blockchain in April.

Binance has introduced the newest project on the Binance Launchpool, Maverick Protocol (MAV). The Maverick Protocol, the 34th project on Binance Launchpool, is a decentralized exchange (DEX) that helps liquidity producers hit their capital efficiency targets regardless of their liquidity providing (LP) strategy.

According to the official Binance announcement, interested users can farm Maverick Protocol (MAV) tokens by staking TUSD and BNB in different pools. Binance says following the farming period, it will list MAV as soon as the tokens meet the requirement for liquidity.

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 timing as appropriate.

Farming for MAV tokens will begin on Wednesday, June 14th, at 00:00 (UTC), and end on Saturday, July 8th, at 23:59 (UTC).

Maverick Protocol Details on Binance Launchpool

The Maverick Protocol has a total token supply of 2,000,000,000 MAV, and will offer Binance Launchpool token rewards of 30,000,000. This is equal to 1.5% of the total token supply. The initial circulating supply at launch will be 12.5% of the total token supply, equal to 250,000,000 MAV. At the moment, there is no upper limit for staking. Therefore, users who have met the KYC requirement can stake as much as they like.

Binance will calculate user rewards using snapshots of users and total pool balances taken and updated every hour. Following the calculations, each user may then accumulate rewards or make multiple claims as calculated to receive their rewards at any time in their spot accounts. Nonetheless, any user who does not initiate claims will have their rewards automatically deposited in their spot account as each farming period ends.

Binance restricts users to staking tokens in one pool at a time. A user cannot stake the same tokens in multiple pools but can split their tokens into different pools concurrently. Also, Binance will continuously display each pool’s total balance and annual percentage yield (APY), updating both in real-time. Anyone can decide to unstake their funds from one pool and stake in another pool immediately.

Users who already have BNB staked in the BNB Vault automatically benefit from the Maverick Protocol launchpool. These users will receive calculated daily MAV rewards in their wallets.

Binance Last Launched SUI

In April, Binance launched Sui (SUI) as the 33rd project on the launchpool. Sui is a DPoS (delegated proof of stake) layer 1 blockchain that uses the Move programming language to write safe smart contracts. The Sui blockchain promises a high throughput and instant settlement for several next-gen decentralized applications. 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.


Altcoin News, Binance News, Blockchain News, Cryptocurrency news, News

Tolu Ajiboye

Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.

#Binance #Announces #Maverick #Protocol #34th #Project #Binance #Launchpool