Bitrabo Editorial
Maverick Protocol, a provider of infrastructure for Decentralized Finance (DeFi), has successfully raised $9 million in a funding round. The round was led by Founders Fund, a prominent American venture capital firm, and saw participation from other notable firms such as Binance Labs, Coinbase Venture, Pantera Capital, and Apollo Crypto.
Maverick Protocol’s Focus on Liquid Staking
Maverick Protocol has stated that its main objective is to enhance the efficiency of the DeFi markets. As part of this effort, the company’s ten-person team will utilize the newly raised capital to develop an improved infrastructure for Liquid Staking Tokens (LST). They also plan to address existing challenges with their cross-chain liquidity system. Additionally, Maverick Protocol aims to integrate with new chains and provide developers with the necessary tools to maximize their infrastructure. The DeFi platform also intends to establish more partnerships in order to expand its ecosystem. Notably, Maverick Protocol is already integrated with top DeFi projects including Frax Finance, Rocket Pool, Swell, and the largest DeFi protocol, Lido Finance.
“We founded Maverick to provide the critical market infrastructure required to eliminate inefficiencies from DeFi and help the industry grow to new highs,” said Alvin Xu, Co-Founder of Maverick Protocol, commenting on the fundraising campaign. “In a very short period, we’ve delivered consistently strong capital efficiency to liquidity providers and equipped token projects with new incentivization tools to build liquidity using precisely targeted rewards. This fundraising enables us to continue building towards our mission of making a stronger, more efficient DeFi ecosystem for everyone.”
Maverick Protocol previously raised $8 million in a strategic fundraising event in February 2022 in preparation for its mainnet launch in mid-2022. The platform officially launched in March 2023 with a decentralized exchange featuring a unique Automated Market Maker (AMM) system.
Maverick's Native Token MAV Trading At $3.2 | Source: MAVUSDT Chart On Tradingview.com
Maverick’s Innovative AMM Model
Maverick Protocol operates on a “revolutionary” AMM model that introduces the concept of “Directional LPing” to DeFi. This approach prioritizes capital efficiency and allows liquidity providers to have greater control over their investments while tackling issues such as impermanent losses. Liquidity providers on Maverick can choose a direction they believe the price of their tokens will move and they are rewarded with higher trading fees if their predictions are correct.
Despite being relatively new, Maverick Protocol has achieved significant success, accumulating a total value locked (TVL) of $37.78 million within four months, according to Defillama, a DeFi analytics site. The platform ranks as the 8th largest DeFi protocol on the Ethereum blockchain and the 31st biggest project in the DeFi space based on TVL.
Featured Image: TechCrunch, Chart from Tradingview.