Maverick Protocol – a decentralized finance (DeFi) infrastructure provider focused on increasing industry efficiency – recently announced a $9 million round of funding. This funding round was led by venture capital firm Founders Fund, with support from other renowned firms including Pantera Capital, Binance Labs, Coinbase Ventures, and Apollo Crypto.
Maverick Protocol was created to bring greater efficiency to DeFi markets. And this round of funding will be used to expand upon that mission. Specifically, the company will focus on building a more efficient Liquid Staking Token (LST) infrastructure and solving cross-chain liquidity inefficiencies. The new round of funding will also be utilized to scale the protocol to deploy on new chains, support developers to build on its infrastructure, and attract more projects to its growing ecosystem.
The Maverick Protocol launched in March 2023 with its DEX, powered by a revolutionary native Automated Market Maker (AMM) that enabled liquidity providers (LPs) to achieve higher capital efficiency compared to existing AMMs. And since launching, the protocol has been ranked as top 3 DEX on Ethereum and #1 DEX on zkSync Era by volume, securing more than $37 million in total value locked (“TVL”), supporting over $2 billion in on-chain volume, and achieving an active capital or “capital efficiency” rate of up to 374%. During that time, Maverick also integrated with projects like Lido, Frax, Liquity, cbETH, Rocket Pool, and Swell.
After that, the platform introduced ‘Boosted Positions,’ a set of surgical incentivization tools that provided token projects with greater control over liquidity, reducing wasted incentives and maximizing the value of reward programs.
Maverick’s latest round of funding follows a seed raise in 2021 and strategic fundraising in 2022.
KEY QUOTES:
“We founded Maverick to provide the critical market infrastructure required to eliminate inefficiencies from DeFi and help the industry grow to new highs. In a very short period of time, we’ve delivered consistently strong levels of capital efficiency to liquidity providers, and equipped token projects with new incentivization tools to build liquidity using precisely targeted rewards. This fundraise enables us to continue building towards our mission of making a stronger, more efficient DeFi ecosystem for everyone.”
— Alvin Xu, founding member of Maverick Protocol
“Maverick has quickly established itself as a hub for liquid staking token trading whilst having greater capital efficiency for liquidity providers. The company’s surgical approach to decentralized finance will push the entire industry forward.”
— Joey Krug, Partner at Founders Fund
