Maverick has announced the launching of the Maverick Ecosystem Incentive Program with the objective of eliminating inefficiencies in the market. Simultaneously, the goal is to reward users based on their contributions in different seasons.
The Maverick Ecosystem Incentive Program is the DeFi infrastructure that will leverage the holdings of MAV tokens from Airdrop allocation and Liquidity Mining. Allocation will be for the categories, namely Investors, Binance Launchpool, Liquidity Mining & Airdrop, Team, Foundation/Treasury, and Advisors.
Allocation will start with the pre-season, wherein users who have contributed to the growth of the ecosystem will be rewarded for their efforts. Different factors will be taken into consideration by Maverick. They have been listed below:
- Users achieving the role of Contributor or higher in the Maverick Warrior Program
- Liquidity Providing – duration & TVL
- Trading volume, which will be derived from the UI of Maverick
- Participation, specifically in snapshot governance votes
- MAVA non-fungible tokens held by the users
The eligibility of participants will be verified by the Maverick community on the basis of a snapshot taken on June 22, 2023, as of 20:00 UTC. Those who are found to be genuinely eligible will be asked to claim the reward from the official website. It will be from the Pre-Season phase, with dates to be shared at the earliest.
Maverick’s Ecosystem Incentive Program is currently ongoing and is in the first phase. It will acknowledge two factors – ecosystem participants and protocol liquidity. Furthermore, Maverick has started recording on-chain activities from June 22, 2023, at 20:00 ET.
Liquidity in the first phase is bootstrapped to its ve-model. This means that it has been linked to Maverick’s voting-escrow model and the tools that are powered by MAV tokens. Users can stake MAV tokens and claim veMAV in return for better participation through voting and direct incentives. Maverick has chosen to go with ve model because it is expected to deliver the benefit of efficiency of liquidity and incentives.
The ve-model will be launched in two stages – Stage 1 and Stage 2.
Stage 1 is where the veMAV smart contract will be launched, allowing users to lock their MAV tokens and get veMAV in return. Stage 2 is where the Liquidity Directing Voting mechanism will be launched. This will enable the users to participate in the voting process and claim external incentives.
Maverick Protocol has been constructed to enhance capital efficiency and capital control for participants of the ecosystem. Powered by Automated Market Maker, the list of participants includes DAO treasuries, developers, liquidity providers, and traders.
The development follows an announcement by zkSync Station, mentioning that Maverick Protocol is officially the top 1 decentralized exchange with the highest capital efficiency. This comes to light despite Maverick launching only a few days ago, giving it a shorter time to bring the much-needed change in the industry.
Maverick has now emerged as one of the most promising ventures. Developments like building a DeFi infrastructure are further strengthening its position on the list.
Source: https://www.cryptonewsz.com/maverick-brings-maverick-ecosystem-incentive-program/