Binance Labs, the venture capital and incubation arm of Binance (which has been sued by US regulators for a wide range of issues), continues to support the growth of the DeFi sector and has participated in a strategic funding round for Maverick Protocol, a DeFi infrastructure provider focused on increasing efficiency in DeFi markets.
Since its launch, Maverick Protocol has “been ranked as a top three DEX on Ethereum and the number one DEX on zkSync Era by volume and has achieved a ‘capital efficiency’ rate of up to 374 percent.”
Maverick Protocol offers “an innovative automated market maker (AMM) infrastructure with automatic liquidity movement, directional liquidity provision, and customized liquidity placement.”
The protocol was “launched in March 2023, complete with its own DEX and powered by a native AMM that enables liquidity providers (LPs) to achieve greater capital efficiency compared to existing AMMs and allows easy trading of liquid staking tokens.”
Furthermore, customizable liquidity distributions on Maverick Protocol “allow LPs to configure their own distribution of liquidity along a pool’s price range without making multiple positions.”
This feature enables LPs “to implement non-linear risk-optimized LP positions easily.”
Yibo Ling, Chief Business Officer at Binance, said:
“Binance Labs continues looking for projects set to capture the next big wave in DeFi. Maverick Protocol’s technical innovation and product design provides key infrastructure for the DeFi sector’s growth and demonstrates its potential to become the central trading venue for liquid staking tokens.”
Since its launch, Maverick Protocol has “integrated with leading protocols.”
Maverick plans “to scale further by deploying its protocol on new blockchains, including BNB Chain.”
The DeFi solutions provider will “utilize the funds to build a more efficient liquid staking token (LST) infrastructure, solve cross-chain liquidity inefficiencies, support developers building on its protocol, and attract more projects to its growing ecosystem.”
Alvin Xu, founding member of Maverick Protocol, said:
“We founded Maverick to provide the critical market infrastructure required to eliminate inefficiencies from DeFi and help the industry grow to new highs. In a very short time, we’ve come to deliver consistently strong levels of capital efficiency to liquidity providers and began to equip token projects with new incentivization tools helping them build liquidity using precisely targeted rewards. This fundraise enables us to continue building toward our mission of making a stronger, more efficient DeFi ecosystem for everyone.”
As noted in the update, Maverick Protocol is “a new infrastructure for decentralized finance, built to bring higher capital efficiency and greater capital control to traders, liquidity providers, DAO treasuries, and developers, powered by a revolutionary Automated Market Maker (AMM).”