In an announcement on the official blog, the major crypto exchange announced its 34th Launchpool project, Maverick Protocol (MAV), a composable DEX that allows liquidity providers to achieve high capital efficiency with their desired Liquidity Supply (LP) strategy. The website is estimated to be available 4 hours before Launchpool starts.
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
Users can stake their BNB and TUSD into separate pools to mine MAV tokens for 25 days, with farming starting from 2023-06-14 00:00 (UTC).
After that, Binance will list MAV when its Liquidity meets the requirements and open trading with MAV/BTC, MAV/USDT, and MAV/TUSD trading pairs. The exact date and time will be announced when available. Users will enjoy zero producer fees on the MAV/TUSD trading pair until further notice.
The specifications of the Launchpool MAV are as follows:
- Token Name: Maverick Protocol (MAV)
- Total Token Supply: 2,000,000,000 MAV
- Launchpool Token Reward: 30,000,000 MAV (1.5% of total Token supply)
- Initial total circulating supply: 250,000,000 MAV (12.5% total token supply)
- Smart Contract: 0x7448c7456a97769F6cD04F1E83A4a23cCdC46aBD (ERC-20)
- Terms: No maximum limit. KYC required
- Supported Pools:
- BNB Staking: 24,000,000 MAV (80% of launchpool allocation)
- Staking TUSD: 6,000,000 MAV (20% of launchpool allocation)
Binance is still under a lot of pressure from the alleged breach of the SEC regulator. As already mentioned, June 5, 2023, the Securities and Exchange Commission (SEC) has charged Binance Holdings Ltd., which operates the world’s largest crypto asset trading platform, Binance.com; The US-based affiliate, BAM Trading Services Inc. (“BAM Trading”), together with Binance, operate the crypto asset trading platform, Binance.US; and their founder, Changpeng Zhao, with multiple securities law violations along with allegations of fraud.
Although the crypto exchange has so far not accepted allegations of securities fraud and fraud, facing regulatory authorities like the SEC, it still suffers significant damage.
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