Maverick, a decentralized crypto derivatives protocol, has raised $8 million in a recently concluded funding round led by Pantera Capital. Other prominent crypto VCs who participated in this strategic funding round include Circle Ventures, Altonomy, Coral Ventures, CMT Digital, GoldenTree Asset Management, Gemini Frontier Fund, Spartan Group, LedgerPrime, Jump Crypto, Taureon and the Tron Foundation. The funding will be used to launch Maverick’s mainnet (expected in mid-2022) and scale the underlying protocol. Unlike the existing DEXs which are built on the Automated Market Maker (AMM) infrastructure, Maverick leverages a Gaussian Automated Liquidity Placement Model (ALP). The platform also features an open asset-listing function, enabling anyone to launch perpetual crypto trading pairs using an ERC-20 token as collateral. With the crypto derivatives market growing, Maverick’s decentralized protocol aims to introduce a seamless ecosystem where users can trade perpetual backed by mid-cap tokens. Currently, most of the decentralized exchanges only feature up to 30 trading pairs, leaving out over 100 pairs that are listed on centralized exchanges. According to Pantera Capital co-CIO Joey Krug, the Maverick permissionless protocol has the capability to meet the growing demand for mid-cap crypto derivatives in the DeFi market, “Pantera believes Maverick is the protocol to accomplish this. Its innovative market structure is poised t...
