Maverick Protocol x Satoshi Club AMA Recap from 2nd of December

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Maverick Protocol and our guest was @aintheair. The AMA took place on 2 December.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Gold Rocket | Satoshi Club: We are with you again, our dear Satoshi Clubbers! We are pleased to announce AMA with Maverick.

Today our guest is @aintheair

Jonah 🏅🎹 | Satoshi Club: Hello @aintheair welcome to Satoshi club👏

aintheair: Hi guys, excited to be here!

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @aintheair 🐵

Jonah 🏅🎹 | Satoshi Club: We are Glad to have you here….

aintheair: Thank you

Gold Rocket | Satoshi Club: Btw you have really amazing ava 🐵😍

How are you doing today😊

Jonah 🏅🎹 | Satoshi Club: Oh yeah that’s true..

aintheair: Feeling pumped to chat with you guys!

Gold Rocket | Satoshi Club: Let’s start! Introduce yourself please. How did you get to be involved in crypto & Maverick

Tell us please about your position in Maverick

aintheair: I’m a veteran product lead who’s been in crypto since 2018. Launched many core crypto products such as swap, crypto lending, interest bearing, crypto debit card, Bitcoin on-ramping / off-ramping and single sided AMM.

I’m the community lead of Maverick Protocol.

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 MetaMask, TRON, BitTorrent, Abra, TrueFi, Paxful, and Georgia Tech University.

Gold Rocket | Satoshi Club: this is a great background👍👍👍

Give us a brief introduction to the project. What is the essence of Maverick

Tell us about the benefits of Maverick. How is it different from others?

aintheair: Maverick is a free listing derivatives protocol that allows users to deploy a perpetual market for any asset using any erc20 token as collateral. Put simply, a “Uniswap for derivatives.”

Maverick establishes rules that allow anyone to launch a perpetual market on any blockchain-tracked asset pair, with up to 10x buying power for traders and without many of the risks or costs associated with centralized intermediaries.

Why Maverick is different?

– Greater Trading Volume in Permissionless Listing Pools

Maverick grants anyone an ability to deploy a perpetual market for any asset with a price feed. Users can list any on- or off-chain assets, and markets form around LPs and traders. Current exchanges restrict the types of tokens that can be used as collateral. Maverick is unique in permitting the use of any ERC20 token to back a trader’s position. This flexibility can unlock over 1 trillion in volume to flow into the derivatives market and enable new use cases for existing token ecosystems.

aintheair: – Lower Slippage, More Staking Income through Automated Liquidity Placement (ALP) virtual Automated Market Maker (vAMM)

A goal of any exchange is to have the most efficient price discovery. Many derivative solutions use a central limit order book or a constant product Automated Market Maker (AMM) to enable users to trade. While these models are functional, they require high volume to be efficient. Maverick introduces a new Gaussian Automated Liquidity Placement (ALP) virtual Automated Market Maker (vAMM) that uses oracles to place the liquidity around the market price of an asset. Since Maverick constantly shifts an LP’s liquidity, there is low slippage for traders and more lucrative fees for LPs—all without creating extra work for LPs.

Gold Rocket | Satoshi Club: You decided to capture an interesting segment of the crypto market. 😊

aintheair: – Better Pricing thanks to Oracles

To find the best mark price, Maverick utilizes both internal and external oracles. In shallow markets or markets with less activity, external oracles are useful in keeping pools aligned with the spot index price. As they generate more volume, each pool may become self-sufficient and rely more on internal oracles. To this end, Maverick assigns weights to the external and internal oracle based on volume: the higher the trading volume, the higher the weight for the internal oracle. As part of the ALP vAMM, these weighted oracles encourage high liquidity, low slippage, and increased transaction fees.

– Stronger Security from Isolated Insurance Funds

To mitigate risk associated with volatile assets that may be deployed on Maverick, each pool will have an isolated insurance fund to prevent a bankrupt pool from depleting the funds of another. This effectively isolates asset risk from becoming platform risk, making trading via Maverick safer for all users.

Jonah 🏅🎹 | Satoshi Club: Wao that’s very detailed

aintheair: Yes, the permissionless derivatives market is huge, projected to be several times larger than the current permissionless spot trading market, for example, uniswap.

Gold Rocket | Satoshi Club: Great explainaition👏👏👏

Also we would like to know more about your team. Who is on the project team core?

aintheair:

Will disclose more information on the team in the near future, however, this is a list of their backgrounds.

Jonah 🏅🎹 | Satoshi Club: 🔥🔥

Gold Rocket | Satoshi Club: Amazing list of companies. we will look forward to the information.

aintheair: Proud to work with the team of Maverick.

Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?

aintheair: Let’s do this.

Q1 From Telegram user @Billz120

MAVERICK – On your Staking Model, I understand stakers earn incentives to ensure assets are available on Marvrick and stakers guarantee that assets on Marvrick maintain the same values as the original assets being tracked. My question in view of the above is, how is the incentives being earned by stakers determined? Is it on pro rata basis or what? How do stakers guarantee that assets on Marvrick maintain the same values as the original assets being tracked?

aintheair: Great question – just like any perpetual future market out there, the mark price is different than index price. Althought we use oracles like Chainlink, Band, and Uniswap, the asset prices could always derive from the index price. In this case, the trader is subject to funding rate payment every hour, which is universal to all perp markets.

For staker, incomes are from:

– Trading fees (it’s sizable since now trader can trade on up to 10x leverage, hence the trading fee is up to 10x)

– Funding rate payment from traders

– Protocol incentives in MAV token

And it is pro rata based aka it depends on your % of the pool.

Jonah 🏅🎹 | Satoshi Club: Can you explain more on how you distribute the funding rate payment to stakers?

And BTW what is this funding rate payment that traders pay?

aintheair: It is (mark price – index price)/24

it’s due by every hour

Gold Rocket | Satoshi Club: Thanks for your great answers

Do you want to add something? Or can we proceed to the next question?

aintheair: Let’s proceed to the next one.

Q2 From Telegram User @Jmagsss

To optimize problem with volume trades, Maverick Protocol will be deploying its new feature called “Gaussian Automated Liquidity Placement” or ALP. Can you please explain to us thoroughly how does this features works behind the scenes? How is this feature unique and different from other volume optimizer features? Also, how is this feature related to your use of oracles and the amount of possible slippage on each trades?

aintheair: To answer this question, we need to know the pain points of current solutions such as uniswap V2 and V3:

Uniswap V2:

– High slippage to traders

– High impermenent loss to stakers

– Great opportunity to arbitrageurs (either humans or bots), not fair or attractive to liquidity providers (LPs)–the individuals who have staked tokens into the pool to facilitate trading. As passive stakeholders in the pool, they find themselves implicitly agreeing to trade with arbitrageurs at prices higher than the market price, losing the opportunity to profit themselves.

Gold Rocket | Satoshi Club: these problems really exist today

aintheair: Uniswap V3:

Uniswap V3 set out to solve the slippage problem by introducing concentrated liquidity. While this is definitely good news for traders, Uniswap V3 also created more work for LPs, who need to reallocate their liquidity constantly so as to track the current swap price. If not, they risk losing out on fees while still incurring impermanent loss. In a sense, V3 created a meta zero-sum game for the LPs that they have to play well in order to earn fees. Ideally this game creates thicker and more functional markets, but it does so by pitting LPs against each other in a race to concentrate their liquidity more efficiently than each other.

Some of the popular pairs, such as MKR / USD or Compound / USD, shallow liquidity around the market price means traders have to accept the potential for massive slippage in their swap price or forgo the opportunity to trade on this pair altogether. The misallocated liquidity disincentivizes trading, and therefore limits yield farming opportunities for LPs.

The Maverick Gaussian ALP mechanism solves all of these problems. With Automated Liquidity Placement, there is no need to have LPs play a game against each other, saving them the trouble of a useless competition for fees. Instead, as a result of our design traders benefit from less slippage and LPs benefit from less impermanent loss and less active liquidity management overhead.

Maverick reimagines liquidity concentration by building in rebalancing to every pool from the beginning, eliminating the requirement that LPs constantly reallocate their own liquidity. Maverick does this through a combination of two mechanisms:

– An on-chain oracle that tracks the market price of assets

– A liquidity distribution curve that continuously shifts with the oracle price

Maverick makes use of weighted oracles to determine the price of assets on the protocol. An oracle is essentially a stream of data that is constantly fed into Maverick’s virtual AMM. The Maverick AMM uses a combination of external oracles that track the price of assets on external markets, and internal oracles that follow the price in the Maverick pool. These oracles are assigned a weight based on the current liquidity in a given pool: in pools with lower liquidity, the external oracle is given more weight, so as to keep the pool close to the market price and limit impermanent loss for LPs; in pools with higher liquidity, the internal oracle is given more weight so as to keep trading volume high.

The Maverick ALP mechanism constantly shifts liquidity in each pool to follow the price set by the oracles. In addition to limiting impermanent loss, this ensures that there will always be a broad base of support around the oracle price, meaning lower slippage for traders. If we think back to our Uniswap V3 graph, this is equivalent to the AMM automatically moving the constant slope portion of the price curve so that it tracks the oracle price. This benefits both LPs and traders, since the constant slope represents a zone of low-to-zero slippage.

A brief conclusion: With these built-in liquidity-adjusting dynamics, Maverick offers traders and LPs better performance in terms of both slippage and impermanent loss. The Gaussian ALP in Maverick’s virtual AMM smartly reallocates liquidity to ensure better price support without the need for direct management by LPs. This effectively eliminates the role of arbitrage on Maverick, in favor of automatic pool management that more directly benefits LPs.

Gold Rocket | Satoshi Club: Wow! This answer looks more like a doctoral dissertation😁

Great detailed answer 👍

Thanks for that.

aintheair: Thank you. With a more in detail white paper coming out regarding our ALP model. Please stay in tuned.

Gold Rocket | Satoshi Club: by the way, you are such an ambitious project. share your roadmap with us please

aintheair: – Q1, 2021: UX / UI / branding ideation, start building Maverick

– Q2, 2021: 1 million seed round investment led by one of the largest market makers in the world (to be disclosed in future PR release)

– Q3, 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 feature – 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

Q3 From Telegram Users @iceVermithraxx

According to Your medium, You mentioned that Risky assets can be deployed on Maverick, hence Maverick introduced the “Isolated Insurance Fund” to prevent assets risk from becoming Platform Risk. Understanding what risky assets mean, Can you explain on your Isolated Insurance Fund, how does Isolated insurance Fund works to reduce risk for investors and traders? What are other security protocols put in place to ensure safety of investors and traders funds?

aintheair: In the event such as the staked asset in the pool is not enough to cover the winning side of the trader (i.e. someone with a massive gain + 10x leverage), the insurance fund of the pool will kick in to act as a backstop liquidity provider, and provide fund for the winner trader.

If the insurance fund is not even enough for some of the highly volatile asset:

In the event the utilization rate of the staked pool hits the deleverage utilization(125%), a liquidator is able to trigger a deleveraging mechanism which closes out 20% of the positions to get the pool back to max utilization(100%). They are awarded MAV and a portion of the deleveraged position paid for by liquidity providers.

Insurance funds are being generated by part of the trading fees + part of the historical margins of trader liquidations.

Jonah 🏅🎹 | Satoshi Club: Is there a fixed percentage of these fees that goes to the insurance fund?

aintheair: To be annouced very soon:)

Gold Rocket | Satoshi Club: It’s really important that you take care of your clients. but tell me please, did you take care of the audit? how safe is it to work with Maverick

aintheair: – We have ongoing security audit with blue chip security auditing firms, the goal is to have 2-3 audit reports before the launch of the main net

– Since we use TWAP (Time-weighted average price), flash loan attacks don’t apply to Maverick, because it has to be at least 2 blocks to manipulate the price.

– Our team comes from a cybersecurity background, including battle tested smart contract engineers with high code coverage

Jonah 🏅🎹 | Satoshi Club: Great Job..

Q4 from Telegram User @ProwGrowl

As Maverick project is making its first steps as fully decetralized crosschained trading platform and the impossibility to access your white paper or see Maverick app live, could you share at least some picks on future application mentioning any specific features that could attract more users? Are you also planning to make the app available on mobile devices (IOS and Android)? Do you plan to add any trading basis video courses for beginners?

aintheair: Maverick’s plan is web app only at the moment, will explore more on the mobile app in the near future. Our lite paper: https://medium.com/maverick-protocol/about

– Our app is fully decentralized and hosted by IPFS, hence we won’t be influenced by centralized services such as amazon AWS.

– Unlike other perpectual futures trading platfrom, we aim to lower the entry barrier for users who’ve never used DeFi or derivatives. We are not overwhelming users with a bunch of information, instead, only show essential information.

Gold Rocket | Satoshi Club: Do you plan to add any trading basis video courses for beginners?‌‌ (с)

aintheair: Tutorials:

How to trade: https://twitter.com/mavprotocol/status/1465008001346154507?s=20

How to stale: https://twitter.com/mavprotocol/status/1465482244093587457?s=20

Gold Rocket | Satoshi Club: Oh thanks

Jonah 🏅🎹 | Satoshi Club: Great this will be helpful for Traders wanting to use your platform

Gold Rocket | Satoshi Club: @aintheair which feature of this app are you personally most proud of?

Aintheair: If we go geeky, it would be deploying a new pool on Maverick: The gas cost of deploying a new pool is constantly being optimized and it costs only around $70 on ethereum and cents on Polygon. This is fundamental for users / projects to constantly deploy pools.

Q5 from Telegram User @Pavel_Jarosh

Once Maverick is announcing that users can unlock access to new asset classes or have access to new forms of trading by trading anything does it mean that you plan to complete Maverick’s development by making it fully crosschained? If yes, please reveal potentional or already agreed chains to join Maverick. How will it be reflected in internal fees on trading? Can the users see them lower compared to similar projects?

aintheair: Cross chain is an interesting topic which we can talk about for hours. However, essentially, we are still exploring truly trustable cross chain solutions without diluting much of our potential liquidities. So the short anser is we will launch first then introduct new chain supports. We have 3 chain partnerships at the moment.

“Users can unlock access to new asset classes or have access to new forms of trading by trading anything” this means users can use any erc20 token with price feed as collatoral to trade popular asset classes like cryptocurrencies / commedities / etc with up to 10x buying power.

Gold Rocket | Satoshi Club: Can you tell us these 3 partnerships now?

aintheair: To be disclosed, please stay in tuned:

👉Follow our Twitter for latest project updates: https://twitter.com/mavprotocol

💻 Discord: https://discord.com/invite/4wBBa7rQSj

🌐 Official Website: https://www.mav.xyz/

🔉 Official TG News Channel: https://t.me/maverickprotocol

📚 Medium: https://medium.com/maverick-protocol

Gold Rocket | Satoshi Club: Thanks for sharing😊

Jonah 🏅🎹 | Satoshi Club: Satoshiclubers these are very important links

Q6 from Telegram User @Orlemys

According to your tokenomics breakdown, you will allocate 20% to the Maverick Team, and 20% to strategic early supporters and adopters. This adds up to 40%, which is almost half of the total allocation (remembering that the total supply is 500M) it is truly a huge percentage, and more so when the recipient is so vague. How do we know it isn’t going to the same people? Will you be transparent about the identity of said early supporters and adopters? How will you prove yourself to be trustworthy?

aintheair: Yes, we will be fully transparent about who’s investing and public sale information. More to come.

Jonah 🏅🎹 | Satoshi Club: Can you at this point share your Tokenomics with us?

aintheair:

Here

Jonah 🏅🎹 | Satoshi Club: Thank you for sharing.. and for your Great answers as well

Part 2 — live questions from the Telegram community

Q1. from telegram username @Orlemys

I read that you will have a Token Generation Event, when will it happen? Can we still be a part of it?

aintheair: Timeline is to be decided, somewhere end of this year or early 2022.

Q2. from telegram username @Asela1112

Currently, Traders can trade with 10× leverage on Maverick Testnet. What are the other opportunities that you offer for traders those who trades on testnet?

aintheair: We will release a trading competition on testnet soon, stay in tuned:

👉Follow our Twitter for latest project updates: https://twitter.com/mavprotocol

💻 Discord: https://discord.com/invite/4wBBa7rQSj

🌐 Official Website: https://www.mav.xyz/

🔉 Official TG News Channel: https://t.me/maverickprotocol

📚 Medium: https://medium.com/maverick-protocol

Q3. from telegram username @Rakshhitx5

What will be the highest APY that Maverick will offer on Staking?

@aintheair

aintheair: This is solely depending on the token price / pool ultilization, but with MAV’s protocol incentive, we believe the incentive is going to be quite attactive.

Q4. from telegram username @Gemshunter22

Do you have any YouTube channel for tutorial or guide regarding your platforms? How can I trade and how to stale??

aintheair:

Our YouTube channel https://www.youtube.com/channel/UCtYf0aKUTV0RYPcxoRsWiQQ

Q5. from telegram username @Asela1112

Hello🙋‍♂️

@aintheair

Do community have the right to list & de-list an asset on or from the Maverick Platform? Is it not dangerous thing?

aintheair: Yes, and this will be through our DAO

Q6. from telegram username @SHELBYWINAMA

Maybe all users know that one of the keys to the progress of a project is the existence of a community that always works hard, so does the MAVERICK project have a community that always works hard to support the progress of the MAVERICK project? And how does the community work on the MAVERICK project? and what are the benefits that MAVERICK gives to the community?

aintheair: You are absolutely right. A healthy, active and engaged community is always our backbone.

We are growing our community worldwide now. If you are interested to become a Maverick ambassador: https://t.co/UvClTds31H

Meanwhile, join us on telegram and the socials here:

Website (https://www.mav.xyz/ ) | Twitter (https://twitter.com/mavprotocol ) | Telegram (https://t.me/joinmaverick ) | Announcement Channel (https://t.me/maverickprotocol ) |Discord (http://discord.gg/dVvnmtwdRJ ) |Medium (https://medium.com/maverick-protocol ) |Youtube (https://www.youtube.com/channel/UCtYf0aKUTV0RYPcxoRsWiQQ )

Q7. from telegram username @nonerlike

Are there any governance system in your project? If yes how can we participate and what are the tokens allocated?

aintheair: Our DAO is going to be released very soon, please stay in tuned.

Q8. from telegram username @KevSalom

❇️ I read that Maverick will use ERC20 tokens to back a trader’s margin position, but at some point will they integrate with new chains to use other assets as margin?

aintheair: Definitely, we do plan to integrate with other major chains at the moment, more information to come regarding our chain support

Q9. from telegram username @Pavel_Jarosh

Are you planning to create investing pools with different allocation periods and amounts for staking? Will Maverick staking model also support multiple crypto coins? Being a new project in crypto, will it be possible to stake for lower periods to guarantee toekn price fluctuations both you as intermediare and for users to be able to see staked funds back?

aintheair: MAV rewards allocations will be different in trusted pools / popular assets pools VS. other pools. The exactly allocation will be decided by DAO in the future.