Conversation with Maverick COO Ada: How to build a one-stop liquidity operating system in the DeFi field?

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 version has updated four core parts, including: optimized high capital efficiency V2 AMM, support for developer-defined programmable pools (Programmable Pools), and the new incentive distribution method of MAV tokens veFlywheel , ve token model factory veFactory.

First of all is the optimization of AMM products. V2 AMM has been code optimized and updated, which can greatly reduce the gas fee for each transaction.

Test data shows that the gas fee per transaction of Maverick V2 is less than half of Uniswap V3 and Balancer, and one-third of Curve. It is the AMM with the lowest gas fee on the current market.

Under V2, the transaction fees earned by LP are 30%-40% more than V1. Coupled with other additional incentives, the stickiness of LP is higher, which provides benefits to the LP providers of tokens and the project community. It provides basic tools to form a virtuous cycle.

The second product is Programmable Pools, which supports developers to customize some trading pools according to their own needs. It can be compared with the Hooks (can be understood as a plug-in) product of Uniswap V4. Functions will improve the composability of Maverick’s entire product and ecosystem.

The programmable pool means that anyone can build some special and customized transaction logic based on this pool.

Compared with Uniswap Hooks, Maverick’s original programmable pool will be launched earlier, with lower gas fees and easier to build products.

The third product is a new incentive distribution model for MAV tokens - ve token growth flywheel veFlywheel, which hopes to help project parties adjust token emissions as needed based on the operation of their token capital pools Incentives guide the distribution of liquidity.

Currently, there are two main problems with the ve token model on the market: First, ve is now mostly a game for oligarchs and large investors, and some projects control the emission of tokens by accumulating a large number of ve tokens This is very unfriendly to new projects; on the other hand, there is the problem of excessive token emission. The liquidity incentive emission of tokens through ve will often lose value to the entire ecology after about two years.

V2的veFlywheel透過匹配的方式引導激勵，主要有兩種匹配機制分配MAV代幣：直接匹配（Direct Match）和投票匹配（Vote Match）。其中，直接匹配可以匹配約100%的MAV代幣激勵，這些激勵可以給予特定資金池以及自訂排放時長；在直接匹配的基礎上，可以再應用「投票匹配」功能進行激勵增強，獎勵增加到原來的2-3倍。

第四個創新產品是veFactory（也稱為ve代幣鑄造工廠），支援任何專案方一鍵創建、發行veToken。例如，Swell可以在Maverick平台直接將代幣透過veFactory工廠一鍵部署為ve模型。

4、ChainCatcher：V2中引入的「可程式池及AI-DEX」工作機制是什麼？能否用一些具體用例進行解釋？

Ada：可編程池支援資金池創建者將特定的交易邏輯部署在專門的合約中，且只有一個訪問入口（Accessor）地址，只有擁有訪問地址權限的人，才能進行改變流動池的交易邏輯、費用、添加或移動流動性操作等。

開發者可以在可編程池上設計各種各樣的程序，也可以應用到多種場景中。

具體使用場景如：

AI資金池也稱AI DEX，主要是指開發者可將資金整合者將資金整合來處理

動態費用優化：開發者可以根據資金池的交易量、代幣價格以及預言機數據靈活改變資金池的費率。

單邊交易池LPing：支援創建單邊定向的交易資金池。這在LST、LRT協議非常常見，專案方只接受原生資產到LST或LRT的兌換。

KYC池：主要指有KYC需求的資金池，如RWA專案方、穩定幣或信用產品等，會提供相關KYC工具。

5、ChainCatcher：Maverick V2的創新功能是如何協同工作？有哪些具體的應用場景？能為使用者和專案方帶來哪些實際好處？

Ada：對於專案方，如Swell有swETH和rswETH兩種資產，可以在Maverick創建幾種不同的資金池，例如透過可編程池創建一個動態費用調整池，幫助LRT資產rswETH價格與ETH穩定掛鉤，其次再應用veFlywheel機制增加資金池的流動性激勵，還可以將自己的SWELL代幣通過ve工廠部署為veSWELL，對於持有veSWELL的用戶給予額外的激勵排放，以加深流動池深度和黏性等。

對於用戶來說，Maverick V2的UI頁面進行了全新的調整和優化，用戶不但可以在一個頁面上看到所有的鏈上的資金池，對比及分析不同池子的收益情況，還可以一鍵操作進行跨鏈流動性佈局。

另外，像Lido、Swell、EtherFi、Ethena等專案都將在Maverick佈局流動池，到時用戶可以實現一魚多吃，獲取多重收益。

6、ChainCatcher：針對目前DeFi市場上存在的流動性片段化問題，Maverick V2是如何解決的？

Ada：一方面，MAV代幣是使用Layerzero的全鏈技術OFT開發的全鏈代幣，如果使用veMAV激勵政策，就可以把原生MAV跨鏈至任何一條鏈上，在多條鏈上部署激勵排放；

另一方面，C端用戶在Maverick一個頁面上，就可篩選管理多條鏈上的多個資金池收益，一鍵管理不同鏈的資產流動性。

Maverick更重視資金效率指標

7、ChainCatcher：自去年3月在以太坊主網推出後，Maverick上線已有1年多的時間。在這段期間內，Maverick運作如何？

Ada：對Maverick來說，衡量流動性平台的成功標準不僅僅是單純的TVL，更重視流動性的資本效率，能否被積極使用。

目前許多DEX平台的TVL是靜態的，並沒有被使用、發揮任何資本效率。在發揮資本效率方面，Maverick一直都是遙遙領先的，成績也已被市場驗證認可。

如曾在TVL不到4千萬美元的體量下，Maverick在以太坊上交易量超過Curve，全網排名第二；在zkSync上，Maverick的TVL雖然只有5000萬美元，但交易量在整個鏈上排名第一，且多數時候鏈上50%以上的交易量都發生在該平台上；在Base鏈的交易量排名前三。

8、ChainCatcher：去年6月，Maverick以2億美元估值完成900萬美元策略融資。營運數據是否符預期？投資機構給予哪些扶持？

Ada： Maverick的數據表現還是比較亮眼的。

在Maverick上線之前，DEX或AMM賽道的產品基本上是Uniswap及其Fork產品，Curve及其分叉產品。

如今，一條新Layer2在上線、引進AMM或DEX產品時，都會在Uniswap、Curve、Maverick中三選一，充分說明了真正的DeFi開發者和核心玩家對於Maverick產品的認可。

投資機構在Maverick團隊擴張招聘及業務發展上提供了很多幫助。

9、ChainCatcher：Maverick團隊規模有多大？

Ada：Maverick產品顧問及律師團隊共有20多人，核心開發人約10個，多數成員Base在美國，團隊成員背景比較偏學術研究和技術研發，其中CTO在AI和網路安全方面成就非凡，有三十多個相關專利。

10、ChainCatcher：Maverick V2的推出會對DeFi流動性市場產生哪些正面影響？會為代幣MAV帶來哪些變化？

Ada：首先我們期平台TVL上的成長，過去Maverick沒有針對TVL成長做任何排放誘因。

其次，希望對整個DeFi的流動性的認知增長產生可持續性的影響，讓流動性能被更可持續和更高效地使用。

具體來說，就是代幣專案方能夠更精準的去佈局流動性，而LP能得到更實在且更永續的收益。

對於代幣MAV，最主要的使用場景被開發了，如MAV可鎖倉到veMAV，再用veMAV投票決定資金池的流動性激勵排放分佈。一旦代幣有更多具體的使用場景，它的真正價值更有可能被發現。

DeFi是區塊鏈產業發展的基石

11：ChainCatcher：有觀點認為，現在的DeFi產品機制設計過於複雜且機制難於理解，對於使用者來說很不友善。對此您怎麼看？

Ada：從整個DeFi市場的發展來看，如果想要呈現爆發式的成長，前提需要有一個完備的的基礎設施，產品的技術創新也往往發生在這些基礎設施上，這其實是一個正確的發展方向。

現在DeFi市場的產品也集中在基礎設施的發展上，產品機制對用戶有門檻，主要可能是DeFi產品發展過程中，對於C端用戶的市場推廣、教育還沒跟上。

目前，Maverick已經在產品方面做出嘗試，例如用戶操作頁面的優化，更加簡潔、易於上手；還與一些開發者合作，為不熟悉LP操作的小白用戶開發了機器人Bot工具，幫助使用者一鍵自動部署組合流動性等。

12、ChainCatcher：對於DeFi市場的未來發展趨勢，您有何看法？

Ada：在區塊鏈的使用場景裡面，DeFi是鏈上經濟的基石產品，多樣化的鏈上行為都需要依賴DeFi基礎設施提供的交易市場。

從長期來看，DeFi作為區塊鏈的使用場景，已經被驗證了市場的可行性，但DeFi不應該只與區塊鏈上的使用場景去做對比，應該與整個金融市場橫向對比。

現在DeFi對比傳統金融來看，雖然整體流量還很小，但未來前景非常大。

很多傳統金融從業者都認為，對於金融來說，DeFi的鏈上透明性和沒有中間商的特性，可以解決傳統金融的許多問題。

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