Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Maverick November 18, 2021. This guest Aintheair, Community Lead of Maverick. If you were unable to join the live AMA, no worries, here comes our 127th AMA recap!
We are glad to meet here:
Aintheair, Community Lead of Maverick
For taking your time out from busy schedule for the AMA!
Introduction Session
Q1. Could you give an introduction of yourself And how you can play an important role in Maverick?
I’m a veteran product manager who’s been in crypto since 2018. Led many core crypto products such as crypto lending, interest bearing, crypto debit card, Bitcoin on-ramping / off-ramping and single sided AMM.
The Maverick development team brings together creative experts in the cryptocurrency space. Between them, they have built many original infrastructures for cryptocurrency: Swap aggregator, Ethereum layer2, PoS public blockchain, DEX, decentralized storage networks, crypto lending, a crypto debit card, and quantitative digital asset investment. Members and advisors of the team have worked at leading companies such as ConsenSys, TRON, BitTorrent, Abra, TrueFi, and Paxful.
Q2. What is Maverick? And how is the story behind the Maverick Creation?
Maverick is a free listing protocol that allows users to deploy a perpetual market for any asset using any erc20 token as collateral. Put simply, a “Uniswap for perpetuals.”
Current decentralized markets suffer from issues primarily around:
- Lack of Transparency:
There is limited visibility into the underlying mechanisms that control these markets. How are prices set? Who stands to profit when major liquidations occur? Such obfuscation runs counter to the essential transparency that makes decentralized finance so attractive to users. - Vulnerability:
Over the past few months, we have seen some perpetual markets drift significantly away from the spot price. Drifts like this can adversely affect trading volume and expose traders to significant losses due to liquidations. - Restrictive:
Markets are incentivized only to list assets from which they stand to profit and use central limit order books instead of automated market makers. This limits the yield farming opportunities for token holders and prevents traders from exploring positions in the widest possible market.
These issues have prevented the mass migration of traders from centralized solutions. Maverick introduces an innovative mechanism—the “Automated Liquidity Placement vAMM”—that positions liquidity more effectively around the market price.
Q3. What is so exciting about Maverick, which might make Maverick different from all other projects out there?
Free listing: Maverick is designed to enable any asset to be traded using any ERC20 token as collateral. Currently, most defi markets only allow traders to use either USDC or USDT to back their positions. Maverick opens up the possibility for traders to use ERC20 tokens they are bullish on to back their positions instead of having to hold USDC or USDT.
Automatic Liquidity Placement vAMM: Newer AMM’s try to improve capital efficiency by requiring Liquidity Providers to actively manage their capital, if the capital is not managed correctly it results in high impermanent loss for LPs and high slippage for traders. Our unique vAMM allows LPs to passively stake while ensuring that their capital is effectively partitioned. The vAMM automatically shifts and concentrates the liquidity around the market price resulting in low slippage for traders and more fees for LPs.
Intuitive user experience: Traditional defi markets are built for power users and experienced traders. Maverick is designed to simplify the trading experience allowing any trader to open positions. Now users are not overwhelmed by the bells and whistles prevalent in traditional markets.
Q4. What utilities does the token have, and what benefits will tokens holders get?
Governance: MAV token holders can vote on matters such as default pool parameters, approved assets, dual liquidity mining incentives, and contract upgrades.
Staking: MAV token holders can stake MAV back into the protocol to earn a portion of network fees collected in the quote asset of the pool.
Twitter Session
Q1. Now have many super hackers so security, scalability, and data privacy are three aspects that are very important.I want to know How the team #Maverick resolves if there is an unfortunate security problem?
From @boltnevavaleri2
Great question and reasonable concern there:
- There’s an ongoing security audit with blue chip security auditing firms, followed up by a 2nd audit to make sure code base is robust
- Our team comes from a cybersecurity background, including battle tested smart contract engineers (often it is the exprience in smart contract matters the most)
- High code coverage
Q2. Southeast Asia is a very vibrant market and many project developed here so with your project what do you think about Southeast Asia and do you have any plan to develop here?
From @HTh24720028
Agreed! Maverick is fully decentralized (with web app on IPFS and a future DAO), users can access Maverick from different regions over the world except for blocked regions.
We’d love to have our Southeast Asia community members to use Maverick. If anyone is interested in being our ambassador, you can dm @adaaaaaw For more information
Q3. DeFi, NFT, staking and burning are all very popular nowadays. What steps have been taken to advance “Maverick’ ? Does “Maverick’ have any killer DeFi features like NFT, stake tokens or yield farms ? Please tell the community more…
From @VnVNgcNhn2
Absolutely,
Stake: Liquidity providers stake any erc20 token into the pool, the liquidity converts to virtual assets and is staked around the spot price of the base asset
- Passive Staking Experience
- Capital Efficient
- Lower Impermanent Loss
NFT: With Maverick, now users can invest in any NFT with a price feed, using their erc20 tokens.
Q4. In what ways does “Maverick’ make their platform user-friendly especially for beginners in the crypto ecosystem? Any training guides or manuals?
From @andbuy1
For traders:
- Maverick is built on layer 2, faster transactions with low gas fees, as low as cents
- Simplified User Experience: This is a good walk through of our testnet: https://www.loom.com/share/9a92fea4d7374823aaceca4a90370235
- Low trading fees 0.2%
- More Assets, trade any asset with a price feed
- Low Slippage
Q5. What pIans do you have to educate: raise awareness and appIy in the community to make more peopIe understand about your project and its technoIogy? How to get more attention from peopIe?
From @flowerama809
- We will continue to educate the market about crypto / defi / trading with leverage
- We will continue to bring on world-class investors, not only in crypto but also traditional VCs to help us expanding our market / user base
- We strive to continue to perfect our marketing materials, documentations and tutorials to make Maverick a go-to place for defi knowledges and Q&As
- Work with communities like Nano, also KOLs on twitter, telegram, youtube and tiktok to evangelize Maverick’s innovative approach and intuitive product offering.
Live AMA
Q1.How did you come up with the idea of creating your Project solution? Was it due to impermanent loss or some similar personal experience that made you understand that there would be room for such solution?
Great question – main pain points that motivated us to create Maverick are:
- limited trading pairs on defi markets such as dydx, perp.fi
- User experience is not for novice traders who just enter in to defi or leverage trading
- Thin liquidity pools which often result in high slippage in trading
Q2.Where can I buy your tokens right now what is your current contract and how can I buy them??” Will you have any other DeFI feature like staking, yield farm or NFT in the future?
Our token is not public yet, please stay tuned:
Follow our latest news from Twitter:https://twitter.com/mavprotocol
Join our Telegram to learn more: https://t.me/joinmaverick
Join our discord at: https://discord.gg/X4ygfEweje
Q3.What is the most ambitious goal of your project? Could share with us any Upcoming Updates?
- Q4, 2021: Testnet launch – join our telegram group to gain access now https://t.me/joinmaverick
- Q4,2021: Maverick DAO launch, Token Generation Event
- Q1, 2022: Solana integration; Cross margin (between pairs with similar quote token); Partnership with token projects; Everlasting Options (ability to enter into positions at different strikes)
- Q2, 2022: Decentralization Efforts – transition the development of mav to the community
Q4.Do you have a whitepaper? if yes please share it with us and secondly are you working to AUDIT your project, to make its security more secure and reliable?
Our human readable, intuitive lite paper is coming out, along with articles / videos explaining our ALP vAMM model, the best way to keep up with latest news on Maverick is to FOLLOW OUR TWITTER: https://twitter.com/mavprotocol
Q5.I am an EXPERIENCED DEVELOPER AND ETHICAL HACKER, does you have plans for HACKATHON so as to check the security of your ecosytem periodically and also invite developers to build?
We do have plan for bounty programs and collabration with other leading protocols for hackathons, please stay in tuned in our discord channel: https://discord.gg/X4ygfEweje
👥 Follow our Official Social Media Links Maverick:
Our Website:
https://www.mav.xyz
Twitter:
https://twitter.com/mavprotocol
Telegram:
https://t.me/joinmaverick
Telegram Announcement:
https://t.me/maverickprotocol
Discord:
https://discord.com/invite/4wBBa7rQSj
Thank you for trusting NanoNews as the organizer of the event today, hopefully everyone can understand about Maverick
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