Financing also included participation from major blockchain-focused venture firms Pantera Capital, Binance Labs, Coinbase Ventures, and Apollo Crypto
Maverick Protocol, a decentralized finance (DeFi) infrastructure provider focused on increasing industry efficiency, has announced a $9M fundraise. The round was led by venture capital firm Founders Fund, with support from other distinguished firms including Pantera Capital, Binance Labs, Coinbase Ventures, and Apollo Crypto.
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“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”
Maverick Protocol was founded to bring greater efficiency to DeFi markets, and this fundraise will be used to expand upon that mission. Specifically, the firm will focus on building more efficient Liquid Staking Token (LST) infrastructure, and solving cross-chain liquidity inefficiencies. 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.
“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 fundraise enables us to continue building towards our mission of making a stronger, more efficient DeFi ecosystem for everyone.”
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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.
“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,” said Joey Krug, Partner at Founders Fund.
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