Maverick Protocol Raised up to $8 million in strategic funding rounds. The money raised will be used to launch the blockchain mainnet later this year, an Automated Liquidity Placement technology and open-to-market asset listing model.
Maverick is funded by some of the largest VCs (venture venture capital) in the crypto industry, including Pantera Capital, who founded the first crypto fund in the US in 2013, and also led the round of raising. this capital Other investors include Altonomy, Circle Ventures, CMT Digital, Coral Ventures, Gemini Frontier Fund, GoldenTree Asset Management, Jump Crypto, LedgerPrime, Spartan Group, Taureon and the Tron Foundation.
Maverick is a derivative protocol that has not been licensed yet. which previously worked in stealth mode, and Maverick also said The goal is to revolutionize derivatives trading in DeFi where no serious trader can trade other than on centralized trading platforms like Binance. While most centralized trading platforms More than 100 pairs can be traded, but most DEXs offer less than 20, focusing only on the top coins, so it is impossible to permanently trade mid-level tokens in the market.
It means DeFi is missing out on a big opportunity, Maverick said, as more than 50% of the daily crypto trading volume comes from the derivatives market.
Pantera Capital’s Joey Krug, Co-CIO, said: DeFi needs someone to meet the demand for derivatives built on medium- and long-term assets that existing trading platforms can’t provide. Pantera believes Maverick is the protocol that can achieve this. This innovative market structure is ready to capture key market segments by offering traders low slippage and nurturing low cost LPs.
Maverick will expand its derivatives trading to DEX with the help of Gaussian Automated Liquidity Placement vAMM, an all-new mechanism that will make the automatic placement of liquidity in the market more efficient than any other method. This not only means greater capital efficiency for liquidity providers. It also eliminates the need for collateral management. It also means less discrepancy for traders.
The ALP protocol is based on the idea of investing in cost-effective, high-yield LPs for LPs, Maverick adds. An open asset list will be enabled. Traders can stake any ERC20 token as collateral.
In an interview with Hackernoon, Maverick Co-Founder and CEO Alxin Xu said:
The ALP allows the trading community to create a whole new derivatives market. Until now, he said the fixed market was unable to list most crypto assets. Because they have to work hard to create a sustainable market. As a veteran in the crypto industry You will see various trends. arise and go away One thing that remains true The value of the trading platform comes from giving people access to the latest and greatest crypto assets.
Maverick said the funding plans came ahead of the blockchain mainnet launch later this year and will now build core business and machine learning teams to scale the protocol. and believe there is a bigger opportunity than decentralized derivatives trading. It also said that a passive staking mechanism could be an ideal composite model. For many other DeFi use cases
# Crypto Breaks Records This Month with an investment of nearly $5 billion
in january Venture capital funds continue to pour into the crypto business. Capital raised by more than $5 billion Still setting a new record every month
Nearly 200 Crypto Businesses Received Massive Funding in January Despite the overall decline in the crypto market The price of Bitcoin dropped from around $60,000 in early December. It’s down to about $40,000 at the moment, however, the fundraising round continues to increase. Especially for recent startups, there have been 15 large rounds raising at least $100 million, with Fireblocks the most raising at $550 million, and Pantera Capital’s latest fund raised over $1 billion. dollars on all contracts The fund’s initial target was only $600 million. almost doubled to $1 billion
Crypto Trading Overall custody and financial services are paid the highest, and NFT groups and games are paid a lot. Although it has slowed down recently, VCs are also interested in crypto infrastructure.
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** Image Credit: Dylan Tan and Hans Eiskonen
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