Binance has just kicked off the trading of the crypto Maverick (MAV) with three pairs, as part of a launch accompanied by the project’s inclusion in the “launchpool” incubator.
The listing on the markets will also be accompanied by an airdrop of the platform’s early users who supported the protocol in its initial phase.
Let’s take a look at all the details together.
Summary
What is the new Maverick (MAV) crypto listed on Binance
Binance has just listed the Maverick crypto (MAV), allowing users to trade with 3 different trading pairs. Before going into the details of the listing, let’s look at how this decentralized protocol works.
Maverick is an AMM (automated market maker) that features a unique infrastructure design, facilitating users to maximize capital efficiency by concentrating liquidity based on price movements.Â
The dynamic concentrated liquidity model ,which can automate liquidity strategies without the use of human intervention, leads to the generation of more liquid markets that leverage capital on an as-needed basis at the time of the trade.
Traders, LP providers, developers, and DAO treasuries benefit from this innovative framework focused on “liquidity bootstrapping.”
For example, Liquidity providers who offer their tokens as trading assets within DEX pools are able to save a lot of fees on gas since they do not have to manually adjust their positions based on price changes.
Liquidity tracking is done on the Maverick platform in 4 different ways (left, right, both, static) that allow LPs to operate with the best strategy.
The mission of the DeFi protocol is to eliminate the inefficiency of decentralized finance marketplaces by helping users make the most efficient use of the capital in the platform.
Maverick caught the attention of the exchange Binance, which decided to list the crypto MAV after the project managed to attract a significant amount of TVL and volume in a very short time since its launch.
From March 2023 onward, Maverick’s AMM facilitated a truly remarkable trading volume for wstETH, the wrapped version of the Ethereum derivative provided by Lido Finance to stakers on the beacon chain.
Binance launchpool: the Maverick crypto (MAV) is officially available for trading
After supporting the initial launch phase of the project with a launchpool, Binance announces that it has opened the doors to trading the Maverick (MAV) crypto on three different trading pairs.
By expanding its offerings, Binance adds MAV/BTC, MAV/USDT, and MAV/TUSD to its list of cryptocurrency markets.
Specifically in the MAV/TUSD pair, users will be able to take advantage of the zero-fee trading promotion until further updates from the exchange.
The move, in addition to reinforcing Binance’s commitment to growing the most promising projects in their early stages, seeks to increase the market share of the TUSD stablecoin that will slowly have to replace BUSD.
In fact, a few months ago, the SEC ordered Paxos to stop issuing BUSD currency, causing some problems for Binance, which had to quickly find a replacement to fuel its hegemony in the crypto markets.
Returning to Maverick, the protocol team announced what will be the initial distribution of MAV tokens, in anticipation of the listing on the exchange and decentralized platforms.
250 million MAV tokens will be introduced, corresponding to 12.5% of the total supply, and divided among stakeholders in the ecosystem.
In detail we can observe how the largest slice of the total supply (30.85%) will be dedicated to liquidity mining and the long-awaited airdrop, followed by a large share given to investors (18%) and teams (19%).
Public asset funds will receive 16.5%, while treasury will be funded with 10% of all available tokens.
Binance’s launchpool received the lowest amount of the total supply, at 1.5%, but it is the only one with no vesting.
Maverick and the airdrop to early users
The launch of the Maverick (MAV) crypto within the Binance crypto markets will be followed by an airdrop to early users of the DeFi protocol, which has allowed the project to grow in terms of registered trading volumes and liquidity.
In the first 100 days since its launch in March 2023, the protocol recorded $2 billion in on-chain volume, achieving 374% capital efficiency.
Maverick decided to reward its community for the achievement, which was already to be expected, by giving away tokens to those who actively contributed to the growth of the ecosystem in its first weeks of life.
Going more specific, the criteria the team determined to choose which individuals will be eligible for airdrop are as follows:
- Liquidity providing, by TVL and duration
- Achieving contributor roles or higher in the Maverick Warrior program
- Participation in voting on Snapshot governance
- Trading volume using the Maverick user interface
- Ownership of Maverick MAVA NFT
It is not yet clear what weight each factor will have on the initial allocation for each address, however, it is likely that having provided liquidity and participated through trades on the DEX will have the greatest influence.
On 22 June at 8 PM (UTC), a snapshot was taken to identify wallets that took one or more of the actions just listed.
The DeFi Maverick platform community will be able to check their eligibility and claim rewards from the Maverick ecosystem pre-season on the official Maverick website.
It is worth noting that the protocol is also live on the ZkSync Era network, hence having used Maverick in the past few days it was also possible to simultaneously contribute to the participation of another airdrop, namely the ZkSync airdrop, which is likely to be announced in a few months.
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