Founders Fund lead a $9m Strategic Round in the Leading DeFi Efficiency Infrastructure Maverick Protocol
Maverick Protocol announces its $9 million strategic funding round to expand its ecosystem and realizing its vision of improving industry-wide efficiency.
Maverick is proud to announce its $9 million fundraising round, led by venture capital firm Founders Fund, with support from other distinguished firms, including Pantera Capital, Coinbase Ventures, and Apollo Crypto.
What is Maverick Protocol?
Maverick Protocol is a decentralized finance (DeFi) infrastructure that brings greater efficiency across the market.
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. Since launch, the protocol has been ranked as top 3 DEX on Ethereum and #1 DEX on zkSync Era by volume, securing more than $37M in total value locked (“TVL”), supporting over $2B in on-chain volume, and achieving an active capital or “capital efficiency” rate of up to 374%. In that time, Maverick has also integrated with projects like Lido, Frax, Liquity, cbETH, Rocket Pool, and Swell.
Following 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 from reward programs.
“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, founding member of Maverick Protocol. “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 fundraising enables us to continue building towards our mission of making a stronger, more efficient DeFi ecosystem for everyone.”
Visit Maverick Protocol Official Website at: https://mav.xyz/
Founders Fund
Founders Fund is a venture capital fund with $11 billion AUM and a portfolio that includes Airbnb, Lyft, Spotify, Stripe, and Oscar Health. Founders Fund was the first institutional investor in Space Exploration Technologies (SpaceX) and Palantir Technologies and one of the earliest investors in Facebook. The firm’s partners, including Peter Thiel, Ken Howery, and Brian Singerman, have been founders, early employees and investors at companies including PayPal, Google, Palantir Technologies, and SpaceX.
“Maverick has quickly established itself as a hub for liquid staking token trading while having greater capital efficiency for liquidity providers. The company’s surgical approach to decentralized finance will push the entire industry forward,” said Joey Krug, Partner at Founders Fund.
Maverick’s Strategic Fundraise
This fundraiser will enable Maverick to further expand its ecosystem. Specifically, the firm will focus on building more efficient Liquid Staking Token (LST) infrastructure and solving cross-chain liquidity inefficiencies. The new capital 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.
Maverick’s latest fundraiser follows a seed raise in 2021 and strategic fundraising in 2022. The previous round’s investors include Pantera, Jump, Circle Ventures, and Gemini.
What’s Next?
Maverick has previously disclosed its 3 development phases:
Phase 1: Maverick AMM release
Phase 2: Maverick Boosted Positions — external incentives from protocols
Phase 3: Ve-based incentive voting model — A set of Maverick smart contracts to enable voting on liquidity positions and fee disbursements.
Down the road, Maverick will also announce more ecosystem partners and explore more cross-chain opportunities to enable market efficiency across the whole industry.
Learn more about Maverick: https://mav.xyz/
About Maverick
Maverick Protocol is a new infrastructure for decentralized finance, built to enable higher capital efficiency and greater capital control for traders, liquidity providers, DAO treasuries, and developers, powered by a revolutionary Automated Market Maker (AMM).
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