Today, Maverick $MAV spot trading starts on Binance and with it on several other cryptocurrency exchanges including KuCoin.
It seems that Binance has changed its strategy for issuing new tokens via its Launchpool.
What Is Binance Launchpool?
You can earn or farm new tokens on Binance's Token Launch Platforms, the Launchpad, and the Launchpool. Both are working completely differently. At the Binance Launchpad, you have the opportunity to obtain new tokens using $BNB during a one-time event, which makes it a traditional ICO platform.
The Binance Launchpool, on the other hand, is a platform where users can stake certain crypto tokens and earn new ones over a certain period of time like 25 days. $BNB is always a stakable asset in the Launchpool, although the other tokens may differ.
New Launchpool Strategy
You can still earn $MAV on the Binance Launchpool by staking either $TUSD or $BNB. It is Maverick's native token and it is used on their composable DEX, allowing liquidity providers to increase their capital efficiency.
Although the Binance Launchpad has consistently been profitable for its users, the same cannot be said for the Binance Launchpool.
Previously, tokens released through Binance Launchpool could be traded immediately. However, this is no longer the case with $MAV as spot trading will commence at a later time.
Previously, new tokens introduced through Binance Launchpool failed to gain traction. There seemed to be a continuous dumping of these tokens, possibly because users were unable to farm a significant amount of them and thus opted to sell them immediately.
I wonder if there will be any changes once the trading of the new tokens starts at a later time like now with $MAV. What do you think?
My Final Conclusion
I think that this change in the Binance Launchpool is small but significant. Many users have the opportunity to accumulate a substantial amount of $MAV prior to the commencement of spot trading. I'm looking forward to seeing the initial price of spot trading for $MAV and anticipating less dumping than before. What are your thoughts on this? Also, are you currently farming $MAV on Binance? Let me know.
By the way, if you haven't registered on Binance, you can sign up using my referral link and the code E3PGAJCE. By doing so, you'll save on trading fees every time you make a trade on Binance.
Thank you for reading! If you enjoy this type of content, be sure to follow me here on Publish0x for more.
You can also follow me on Twitter and Medium.
