对话 Maverick COO Ada ：如何打造 DeFi 领域的一站式流动性操作系统？

Interviewer: Grapefruit, ChainCatcher

Guest: Ada, Maverick COO

Editor: Marco, ChainCatcher

On the evening of June 19th, Maverick V 2 went online as scheduled and received Affected by this good news, the MAV token rose by more than 10% that day.

Maverick has been working hard to improve LP yield and capital utilization efficiency.

High capital efficiency means that with the same amount of liquidity, the capital pool on the Maverick platform can generate more transaction volume. The more transaction volume in the capital pool, the directly converted LP income will be more.

Ada, who has made outstanding achievements in the traditional financial field and now serves as Maverick COO, said in an interview with ChainCatcher that Maverick V2 makes the platform not just an AMMM or DEX solution provider, but an Stationary Liquidity Operating System (LiquidityOS).

She explained that the LiquidityOS concept proposed by Maverick is analogous to Apple's IOS operating system, which supports developers to custom develop and customize any liquidity tools and solutions on the platform.

On Maverick V2, token projects can solve all liquidity-related issues in one stop, from the initial liquidity construction layout, to the selection of incentives for liquidity growth, and finally the improvement of liquidity stickiness.

Data shows that Maverick’s transaction volume ranks among the top three on multiple chains, and its products have also been recognized by core DeFi players. When the new Layer 2 network chooses to introduce DEX or AMM online, it will give priority to Uniswap, Curve, Choose from Maverick. In addition, Maverick V2 has attracted well-known projects such as Lido, Swell, EtherFi, Ethena, USDe, and Liquidity to cooperate and deploy.

Build a one-stop liquidity operating system like Apple IOS

1. ChainCatcher: What does the concept of "One-stop Liquidity OS (LiquidityOS)" featured by Maverick V2 specifically refer to? What is the difference between V1 and V2?

Ada: "One-stop Liquidity OS (LiquidityOS))" is analogous to "Apple's IOS operating system". In addition to DEX, Maverick hopes to meet the needs of any token project party and liquidity provider LP to complete liquidity layout, incentives and earning income in one stop on the platform.

For example, any token project party can create a fund pool on Maverick, guide the desired liquidity distribution through accurate liquidity incentives, and get additional token emission incentives with the help of the veMAV model. For LPs, they can browse and manage farming opportunities and capital liquidity on multiple chains on the Maverick platform, while receiving additional MAV token rewards.

On the Maverick platform, you can not only perform various operations on liquidity, but also support building your own liquidity management products. This is the biggest difference between V2 and V1.

Maverick V2 is not just an AMM solution provider, but also attracts DeFi entrepreneurial teams or developers and supports them to custom develop and customize liquidity tools and solutions on the platform.

2. ChainCatcher: What are the pain points and difficulties that the Maverick V2 product wants to solve?

Ada: Mainly want to solve two pain points:

First, the problem of liquidity growth during the early launch of new projects. Currently, there is no efficient method for growing on-chain liquidity in the crypto market, and the income earned by LP providers is not proportional to the cost of capital. Token project parties often attract liquidity providers by giving Token incentives, which is quite Because of the liquidity leasing, the rental expenses are very high, and there is no properly designed token emission incentive model.

Maverick V2 wants to help more tokens expand liquidity more reasonably and efficiently.

The second pain point is the liquidity separation problem between Layer 2 and Layer 1 networks. Regardless of users, LPs or project parties, they all need to deploy liquidity on multiple chains. How to deploy more efficiently and with higher profits? There has been no good solution to chain liquidity.

The ultimate goal of Maverick products is to be a one-stop ultimate liquidity solution to help developers or users solve all liquidity-related problems on the platform.

New features of Maverick V2: low gas fee AMM, support for customized programmable pools, ve tokens

3. ChainCatcher: What are the core functions of Maverick V2 products? What major upgrades and improvements have been made? What drives product improvements?

Ada：Maverick V2版本更新了四个核心部分，包括：优化后的高资本效率V2 AMM、支持开发者自定义的可编程池（Programmable Pools）、MAV代币的新激励分配方式veFlywheel、ve代币模式工厂veFactory。

首先是AMM产品的优化，V2 AMM经过代码优化更新，可极大地降低每次交易时的Gas费。

测试数据显示，Maverick V2每笔交易Gas费不到Uniswap V3和Balancer的二分之一、 Curve的三分之一，是当前市场上Gas费最低的AMM。

在V2下，LP赚取的交易费用要比V1多30%-40%，再加上其它的额外激励措施，LP的粘性更高，这为代币的LP提供者和项目社区之间形成良性循环提供了基础工具。

第二个产品是可编程池（Programmable Pools），支持开发者根据自身需求定制一些交易池，可以和Uniswap V4的Hooks（可以理解为是一个插件）产品做一个类比，该功能会提高Maverick整个产品和生态的可组合性。

可编程池是指，支持任何人来在这个池子基础上构建一些特殊的、定制化的交易逻辑。

与Uniswap Hooks相比，Maverick原创的可编程池上线时间会更早，且Gas费更低、更亦构建产品。

第三个产品是MAV代币的新激励分配模型——ve代币增长飞轮veFlywheel，希望帮助项目方根据其代币资金池运营情况,按需调整代币排放激励措施，引导流动性的分布。

目前，市场上的ve代币模型主要有两个问题：一是ve现在多为寡头和大户的游戏，一些项目通过积累大量ve代币来控制代币的排放权，这对新项目非常不友好；另一方面是，代币过度排放问题，通过ve进行代币的流动性激励排放，往往约在两年后就会对整个生态失去价值。

V2’s veFlywheel guides incentives through matching. There are two main matching mechanisms to allocate MAV tokens: Direct Match and Vote Match. Among them, direct matching can match about 100% of MAV token incentives, and these incentives can be given to specific fund pools and customized emission duration; on the basis of direct matching, the "voting matching" function can be applied to enhance incentives, and the rewards will increase to 2-3 times the original amount.

The fourth innovative product is veFactory (also known as ve token foundry), which supports any project party to create and issue veToken with one click. For example, Swell can directly deploy tokens as ve models through the veFactory factory on the Maverick platform with one click.

4. ChainCatcher: What is the working mechanism of the "programmable pool and AI-DEX" introduced in V2? Can you explain it with some specific use cases?

Ada: The programmable pool allows fund pool creators to deploy specific transaction logic in a dedicated contract, and there is only one access (Accessor) address. Only people with access address permissions can change the liquidity pool. Trading logic, fees, add or move liquidity operations, etc.

Developers can design a variety of programs on the programmable pool and can also be applied to a variety of scenarios.

Specific usage scenarios are:

AI capital pool is also called AI DEX, which mainly means that developers can integrate AI transaction logic into specific capital pools for transaction flow processing.

Dynamic fee optimization: Developers can flexibly change the fee rate of the fund pool based on the transaction volume of the fund pool, token price and oracle data.

Unilateral trading pool LPing: Supports the creation of unilateral directional trading capital pools. This is very common in LST and LRT protocols. The project party only accepts the exchange of native assets to LST or LRT.

KYC pool: Mainly refers to fund pools with KYC requirements, such as RWA project parties, stable coins or credit products, etc., which will provide relevant KYC tools.

5. ChainCatcher: How do the innovative features of Maverick V2 work together? What are the specific application scenarios? What practical benefits can it bring to users and project parties?

Ada: For project parties, such as Swell, which has two assets, swETH and rswETH, you can create several different fund pools in Maverick, such as creating a dynamic fee adjustment pool through a programmable pool to help the LRT asset rswETH price keep pace with the ETH is stably pegged, and then the veFlywheel mechanism is used to increase the liquidity incentives of the capital pool. You can also deploy your SWELL tokens as veSWELL through the ve factory, and provide additional incentive emissions to users holding veSWELL to deepen the depth of the liquidity pool and Stickiness etc.

For users, the UI page of Maverick V2 has been completely adjusted and optimized. Users can not only see all the fund pools on the chain on one page, compare and analyze the income of different pools, but also One-click operation for cross-chain liquidity layout.

In addition, projects such as Lido, Swell, EtherFi, Ethena and other projects will all deploy liquidity pools in Maverick. By then, users can eat more than one fish and obtain multiple benefits.

6. ChainCatcher: How does Maverick V2 solve the current liquidity fragmentation problem in the DeFi market?

Ada: On the one hand, the MAV token is a full-chain token developed using Layerzero’s full-chain technology OFT. If you use the veMAV incentive policy, you can cross-chain the native MAV to any chain. Deploy incentive emissions on the chain;

On the other hand, C-side users can filter and manage the income of multiple fund pools on multiple chains on one Maverick page, and manage the asset liquidity of different chains with one click.

Maverick pays more attention to capital efficiency indicators

7. ChainCatcher: Since its launch on the Ethereum mainnet in March last year, Maverick has been online for more than a year. How has Maverick been operating during this period?

Ada: For Maverick, the criterion for measuring the success of a liquidity platform is not just simple TVL, but also the capital efficiency of liquidity and whether it can be actively used.

At present, the TVL of many DEX platforms is static and has not been used to achieve any capital efficiency. In terms of capital efficiency, Maverick has always been far ahead, and its results have been verified and recognized by the market.

For example, with a TVL of less than 40 million US dollars, Maverick’s transaction volume on Ethereum exceeded Curve, ranking second on the entire network; on zkSync, although Maverick’s TVL was only 50 million US dollars, its transactions The transaction volume ranks first in the entire chain, and most of the time more than 50% of the transaction volume on the chain occurs on this platform; the transaction volume in the Base chain ranks among the top three.

8. ChainCatcher: In June last year, Maverick completed US$9 million in strategic financing at a valuation of US$200 million. Are the operating data in line with expectations? What support do investment institutions provide?

Ada: Maverick’s data performance is quite impressive.

Before Maverick went online, the products on the DEX or AMM track were basically Uniswap and its Fork products, Curve and its forked products.

Nowadays, when a new Layer 2 goes online and introduces AMM or DEX products, it will choose one of Uniswap, Curve, and Maverick, which fully illustrates the recognition of Maverick products by real DeFi developers and core players.

Investment institutions have provided a lot of help in the Maverick team expansion recruitment and business development.

9. ChainCatcher: How big is the Maverick team?

Ada: There are more than 20 people in the Maverick product consultant and lawyer team, and about 10 core developers. Most of the members are based in the United States. The background of the team members is more academic research and technology research and development, among which the CTO has achievements in AI and network security. Extraordinary, with more than thirty related patents.

10. ChainCatcher: What positive impact will the launch of Maverick V2 have on the DeFi liquidity market? What changes will it bring to the token MAV?

Ada: First of all, we look forward to the growth of TVL on the platform. In the past, Maverick did not provide any emission incentives for TVL growth.

Secondly, we hope to have a sustainable impact on the cognitive growth of the entire DeFi liquidity, so that liquidity can be used more sustainably and efficiently.

Specifically, token projects can deploy liquidity more accurately, and LPs can obtain more tangible and sustainable returns.

For the token MAV, the most important usage scenarios have been developed. For example, MAV can be locked to veMAV, and then veMAV can be used to vote to determine the liquidity incentive emission distribution of the capital pool. Once a token has more specific usage scenarios, its true value is more likely to be discovered.

DeFi is the cornerstone of the development of the blockchain industry

11: ChainCatcher: Some people believe that the current DeFi product mechanism design is too complex and difficult to understand, which is very unfriendly to users. What do you think for this?

Ada: From the perspective of the development of the entire DeFi market, if you want to show explosive growth, you need to have a complete infrastructure. Product technological innovation often occurs on these infrastructures. This is actually a correct decision. development direction.

Nowadays, the products in the DeFi market are also focused on the development of infrastructure. The product mechanism has a threshold for users. The main reason may be that in the development process of DeFi products, the marketing and education of C-end users have not kept up.

Currently, Maverick has made attempts in terms of products, such as optimizing the user operation page to make it simpler and easier to use; it has also cooperated with some developers to develop robot Bot tools for novice users who are not familiar with LP operations. Help users automatically deploy portfolio liquidity with one click.

12. ChainCatcher: What are your views on the future development trend of the DeFi market?

Ada: In the usage scenario of blockchain, DeFi is the cornerstone product of the on-chain economy, and diverse on-chain behaviors need to rely on the trading market provided by DeFi infrastructure.

In the long term, DeFi as a blockchain usage scenario has proven its market feasibility, but DeFi should not only be compared with usage scenarios on the blockchain, but should be compared horizontally with the entire financial market Compared.

Now compared with traditional finance, DeFi shows that although the overall traffic is still very small, the future prospects are very big.

Many traditional financial practitioners believe that for finance, DeFi’s on-chain transparency and lack of middlemen can solve many problems of traditional finance.

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