- Maverick officially announced the success of its $8 million funding.
- The funding is led by Pantera Capital.
- Maverick will revolutionize the DeFi derivatives.
Decentralized derivatives protocol Maverick officially announced the success of its $8 million funding. The funding will be used to bring its Automated Liquidity Placement (ALP) technology and open asset-listing model to market. In addition, it will also support the network’s mission to spread and revolutionize the DeFi derivatives in the space. The funding is led by Pantera Capital.
The other investors that supported the strategic funding of the network include Altonomy, Circle Ventures, CMT Digital, Coral Ventures, Gemini Frontier Fund, GoldenTree Asset Management, Jump Crypto, LedgerPrime, Spartan Group, Taureon, and Tron Foundation. These investors will play a big role in the network’s mainnet product launch in mid-2022 and in scaling its protocol.
Pantera Capital CIO Joey Krug said,
DeFi needs someone to answer the demand for derivatives built on the mid-cap and long-tail assets that are underserved by existing exchanges. Pantera believes Maverick is the protocol to accomplish this. Its innovative market structure is poised to capture a significant chunk of the market by offering low slippage to traders and low-maintenance, capital-efficient staking to LPs.
Maverick understands the challenges that the users are facing when trading mid-cap tokens on perpetual markets. As a result, the network will use its protocol to open listings to any trading pair while allowing users to use any ERC20 token as collateral. Tapping into this underutilized liquidity can bring new market opportunities to liquidity providers and traders globally.
Maverick’s co-founder and CEO, Alvin Xu stated,
Being a veteran in the crypto industry, you get to see many trends come and go. One thing that still holds true is a trading platform’s value comes from giving people access to the latest and greatest crypto assets.
He further explained that perpetual markets still lack the ability to quickly list new assets due to the intensive work required to spin up a sustainable market. “We are here to change that paradigm by leveraging ALP (Automated Liquidity Placement). Markets can now be created by the community with way less capital, but still offer a great experience to traders, he added.”
On the other hand, Maverick promises industry-leading pricing through its proprietary Gaussian Automated Liquidity Placement (ALP) vAMM, an innovative mechanism that automatically positions liquidity more effectively around the market price.
The technology will provide greater capital efficiency for liquidity providers and lower slippage for traders. Hence, effectively eliminating the need for liquidity providers to manage their collateral or pay others to do it for them.
Moreover, the intrinsically passive nature of staking via Maverick makes it the ideal composable platform for building further exciting DeFi applications in the future.