MAV Staking Page is Live
You can now stake MAV token on the Maverick dApp.
Within the four months since its launch, Maverick has demonstrated the potential of its innovations in enabling higher efficiency for both AMM liquidity and liquidity incentives. Last week, the MAV token was launched to enable ecosystem governance. To participate in governance, users need to stake MAV tokens to get veMAV.
Ecosystem participants who claimed MAV from the pre-season incentives airdrop were able to stake MAV immediately upon claim. But MAV holders who acquired their token on the open market or who did not stake when they claimed have been asking how they can get veMAV.
Maverick is pleased to announce that the MAV staking page is now live on the Maverick dApp, where all MAV holders can stake their tokens and start building their veMAV balance.
What is veMAV?
Vote-escrowed MAV (veMAV) is a non-transferable governance token used in Maverick’s voting-escrow (ve) model.
In a ve model, token holders are required to stake the protocol token (e.g. MAV) into a “ve” contract in exchange for voting power (in this case, a veMAV balance), and that voting power increases with the size and duration of their stake. The staker’s tokens remain locked in the ve contract until the staking duration ends. This mechanism prevents mercenary voting power from manipulating the governance process in a way that hurts the protocol’s users and community members.
In short, MAV holders can stake MAV to get veMAV and use veMAV for voting purposes.
veMAV tokens represent voting power within the Maverick ecosystem. One of the major use cases of veMAV is to direct protocol incentives to boosted positions. Projects or LPs will be able to stake MAV to get veMAV or rent veMAV through metaprotocols or other mechanisms to vote for a heavier weight of protocol incentives to be directed to boosted positions of their choosing.
veMAV-directed incentives can help drive liquidity to a particular boosted position, making them another powerful tool for projects and LPs to shape liquidity beyond the surgical incentives already enabled by Maverick boosted positions.
Here’s an example of the current boosted positions incentivized by Maverick users:
How to Stake MAV?
Starting today, you can stake your MAV to get veMAV on the Maverick dApp!
Users can now find a ‘Stake MAV’ button on the header menu.
From Maverick dApp user interface, you can choose your stake amount and duration. You can also review your current stake(s) to see how MAV is staked and how much veMAV each stake has granted you.
veMAV balances are calculated based on how much MAV is staked and the end-date of the staking period. veMAV balances receive a boost based on the end-date a user chooses when staking. The further out this end-date is, the bigger the boost the user receives.
For a more detailed explanation of how veMAV balances are calculated, please see Maverick’s docs: https://docs.mav.xyz/mav-token/vemav-and-mav-staking
Please note: once it is staked, you cannot withdraw MAV from the contract until the staking period ends.
Maverick Ecosystem Incentive Program Governance Airdrop Snapshot Date is Extended!
The snapshot date of the Maverick Ecosystem Incentive Program Governance Airdrop is now extended to coincide with the Maverick Ecosystem Incentive Program Season 1 snapshot date–exact date will be announced in the coming months. This extension is intended to give more MAV holders a fair opportunity to stake and participate in this incentive program.
Under this airdrop, all veMAV holders who pledge their long term commitment to participate in Maverick Protocol’s governance (ie stake for a minimum of 1 year at time of snapshot) will be rewarded by the Protocol by plit 10,000,000 MAV pro-rata based on the veMAV balance that’s staked for a minimum 1 year. The additional governance rights (MAV from this airdrop) will be automatically staked for 4 years and give them even more givernance right(ie veMAV)
A snapshot for both the Governance Airdrop and the Season 1 Ecosystem Incentive rewards will be taken on the day Maverick’s ve-model launch stage 2 — Liquidity Directing Voting mechanism — goes live.
We will announce the snapshot date for both the Governance Airdrop and the Season 1 Ecosystem Incentive rewards in the coming months. Follow us on Twitter, Discord and Telegram announcement channels to stay tuned!
Read more about the Season 1:
About Maverick
Maverick Protocol is a new infrastructure for decentralized finance, built to bring higher capital efficiency and greater capital control to traders, liquidity providers, DAO treasuries, and developers, powered by a revolutionary Automated Market Maker (AMM). Learn more at www.mav.xyz or follow us on Twitter @MavProtocol to keep up with the latest news.
DISCLAIMER: The information provided in this Medium Post pertaining to Maverick Protocol (the “Project”), its crypto-assets, business assets, strategy, and operations, is for general informational purposes only and is not a formal offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction and its content is not prescribed by securities laws. Information contained in this Medium Post should not be relied upon as advice to buy or sell or hold such securities or as an offer to sell such securities. This Medium Post does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. The Project and its agents, advisors, directors, officers, employees and shareholders make no representation or warranties, expressed or implied, as to the accuracy of such information and the Project expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. The Project reserves the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained in this Medium Post supersedes any prior Medium Post or conversation concerning the same, similar or related information. Any information, representations or statements not contained herein shall not be relied upon for any purpose. Neither the Project nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this Medium Post by you or any of your representatives or for omissions from the information in this Medium Post. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed in this Medium Post.
