Cryptocurrency exchange Binance has announced that it will launch a new perpetual contract for the Maverick Protocol (MAV) altcoin, a permissionless derivatives protocol with an innovative liquidity bootstrapping mechanism.
The MAVUSDT perpetual contract will be available on Binance Futures on June 29 at 15:00, allowing traders to leverage up to 20x to trade the price movements of MAV against the US dollar.
However, Binance also warned that contract specifications may change depending on market risk conditions, such as tick size, maximum leverage, initial margin and maintenance margin requirements.
Bootstrapping provides benefits for both liquidity providers and investors by increasing capital efficiency as well as providing low slippage. This unique mechanism could make Maverick the first protocol that can rapidly expand to support many different pairs that are not currently available in centralized or decentralized perpetual markets.
Liquidity providers can use Maverick to find advanced yield farm opportunities for any ERC20 tokens they hold, and the Gaussian Automated Liquidity Provisioning mechanism eliminates the need to constantly manage their liquidity.
*Not investment advice.