Maverick Protocol Integrates with USDV: Unveiling the Future of Native Omnichain Stablecoins
Since its launch in March 2023, Maverick’s meteoric rise to a place among top-ranked DEXes has proven the incredible capital efficiency of its groundbreaking Dynamic Distribution AMM.
Maverick’s optimization of efficiency has been especially evident among stable pairs, where the AMM’s ability to automate the movement of liquidity has shown itself to be particularly suited to following small movements in stablecoin prices and keeping liquidity active within narrow ranges. The combination of high efficiency and low fees has led to huge volume on stable pairs in Maverick, which means better prices for swappers and higher fees for LPs.
Many stablecoin projects have also benefited from Maverick’s Boosted Positions, which help them incentivize their communities to shape the liquidity for their tokens with surgical precision. Boosted Positions have shown their utility in maintaining and restoring the peg for stablecoins, since they make it easy to drive liquidity to targeted price ranges and eliminate the inefficiencies inherent to traditional incentive models.
Maverick provides a new paradigm for liquidity provision, offering projects a degree of customization and efficiency they can’t find anywhere else in DeFi.
Stablecoins have been called crypto’s “killer app,” and Maverick may be the killer app for stablecoins. Now, Maverick is excited to announce its integration with #VerifiedUSD (USDV), a new stablecoin backed by tokenized real world assets and built using LayerZero’s Ominichain Fungible Token (OFT) standard.
This blog will break down the integration between USDV and Maverick , Maverick Protocol’s role as a verified minter of USDV, and how USDV’s utilization of LayerZero’s ColorTrace algorithm and OFT standard could be a game-changer for the stablecoin sector.
USDV Integration with Maverick Protocol
Maverick will support day one liquidity for USDV. At time of writing, pools pairing USDV with USDC, USDT, ETH are live on Ethereum mainnet, and pools with BNB and USDT on BNB Smart Chain. These pools will make it easy for users to swap into and out of USDV through direct or multihop swaps, and provide LPs immediate access to Maverick’s high capital efficiency on stable pairs like USDT-USDV.
Maverick supports permissionless pool creation, allowing for LPs to create more pools matching USDV with any desired token pairing. New pools can be created at any width or fee tier, and on other chains.
Deploy your liqudity strategy with USDV on Maverick at: https://app.mav.xyz/pools
LPs looking to earn extra USDV incentives can also try out one of the Boosted Positions that are already live on Ethereum and BNB Smart Chain. LPing in one of these Boosted Positions will help support the growth of USDV and earn LPs a share of the USDV incentives that have been directed to them.
Supply liquidity to the BP 66 to earn extra USDV rewards at https://bit.ly/MaverickBP-USDV-USDT-66
Maverick Protocol as a Verified Minter of USDV
Maverick is also proud to be a launching Verified Minter of USDV. Through USDV’s usage of the ColorTrace algorithm, all USDV tokens that are swapped or LPed through Maverick will be “recolored” with a unique metadata color that helps the on-chain USDV contract track the Maverick community’s contribution to USDV adoption and circulation.
As the real world assets backing USDV earn yield, this yield will be distributed to Minters such as Maverick Protocol based on the percentage of circulating USDV bearing their unique color.
Learn more about USDV recoloring here.
Use of Funds
This new flow of revenue will be held and managed by the future Maverick Foundation to help grow the Maverick ecosystem. Some ideas of the use of funds are (subject to future development of Maverick and the future Maverick DAO launch):
- Liquidity Incentives: Allocating incentives to token projects or new liquidity layers that develop unique and sustainable strategies and applications on Maverick AMM.
- Governance Incentives: Supporting efforts to enhance governance models and practices in the DeFi space.
Maverick’s selection as a Verified Minter by the Verified USD Foundation reflects the trust the protocol has earned among its DeFi peers. Maverick AMM and Boosted Positions have already been adopted by major token communities like Lido’s wstETH, Aave’s GHO, and Liquity’s LUSD, alongside many new tokens like Swell’s swETH and Gravita’s GRAI.
As one of the youngest protocols selected to be a USDV Verified Minter, this new role serves as the proof of Maverick’s status as a fundamental building block in DeFi’s continuing growth.
Utilizing LayerZero’s OFT Technology with USDV
Like MAV (Maverick’s utility and governance token), USDV has been built using LayerZero’s Omnichain Fungible Token (OFT) standard. This means that MAV and USDV are both natively cross-chain tokens, and do not require unofficial wrapped or bridged versions to be used across supported chains.
The OFT standard removes the need for users to rely on custodial bridges, which historically have been a weak-point in blockchain security. Natively cross-chain tokens also help combat liquidity fragmentation, since they create less friction when moving between chains.
How to Get Started?
- Swap to get USDV on Maverick dAPP: https://app.mav.xyz
- Supply liquidity to the Boosted Position to earn extra USDV: https://bit.ly/MaverickBP-USDV-USDT-66
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