Liquidity providers deposit funds into liquidity pools with different liquidity management strategies and receive trading fees from traders (supply-side fees).

Maverick is a non-custodial exchange protocol built on  Ethereum, Binance Smart Chain, Base, and zkSync Era. Maverick was founded by Alvin Xu and Bob Baxley in March 2023.

MAV tokenholders own and govern the protocol. Currently, the protocol does not take a cut of the trading fees. Maverick's investors include Pantera Capital, Binance Labs, Coinbase Ventures, and Apollo Crypto.

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Maverick Protocol

# Maverick Protocol Supply-side fees Methodology

## 1. Overview

Supply-side fees represent the total fees collected by Maverick protocol liquidity pools from trading activity. This metric captures the fees earned by liquidity providers and the protocol from swaps executed across Maverick's automated market maker (AMM) pools. The calculation multiplies daily trading volumes by pool-specific fee rates to determine total fees generated for the supply side of the protocol.

## 2. Data sources

- **Maverick swap events**: Parsed `Pool_Swap` events from Ethereum, BSC, Base, and zkSync Era containing trade amounts, direction indicators, and pool addresses
- **Maverick pool creation events**: Parsed `Factory_PoolCreated` events containing pool configurations, token pairs, fee tiers, and protocol fee ratios
- **Blockchain transaction data**: Transaction records from Ethereum, BSC, Base, and zkSync Era to identify user addresses and transaction context
- **End-of-day price feeds**: Daily token price data for USD conversion across all supported chains
- **Token metadata**: Token symbols, decimal places, and identifiers for amount normalization and trading pair naming

## 3. Step-by-step calculation

### Component A: Trade event extraction
- **Purpose**: Extract and standardize all swap transactions across Maverick pools
- **Logic**: Parse `Pool_Swap` events from all supported Maverick versions (v1) across Ethereum, BSC, Base, and zkSync Era. Extract trade amounts (`amountIn`, `amountOut`) and trade direction (`tokenAIn` boolean flag). Join with transaction data to identify the user initiating each swap. Classify all trades under the 'Exchange AMM' business line and 'dex' business segment.
- **Key fields**: `amountIn` and `amountOut` for trade sizes, `tokenAIn` for direction, `transaction_hash` and `log_index` for uniqueness, `account_address` for pool identification

### Component B: Trade direction processing
- **Purpose**: Convert trade amounts into standardized token0 and token1 amounts based on trade direction
- **Logic**: Use the `tokenAIn` boolean to determine trade direction. When `tokenAIn` is true, set `token0_amount` to positive `amountIn` and `token1_amount` to negative `amountOut`. When false, set `token0_amount` to negative `amountOut` and `token1_amount` to positive `amountIn`. This standardizes all trades into consistent token pair flows.
- **Key fields**: `trade_direction` (tokenAIn boolean), `token0_amount` and `token1_amount` for normalized flows

### Component C: Trading pair configuration
- **Purpose**: Enrich pools with token metadata and fee tier information
- **Logic**: Extract pool configurations from `Factory_PoolCreated` events, capturing token addresses, fee tiers, and protocol fee ratios. Convert fee values from 18-decimal wei format to standard decimal format. Join with token metadata to get decimal places and symbols for each token in the pair. Create readable pool names by concatenating token symbols.
- **Key fields**: `token0_address` and `token1_address` for pair identification, `fee_tier` for fee calculation, `token0_decimals` and `token1_decimals` for amount correction

### Component D: Daily volume aggregation
- **Purpose**: Calculate daily trading volumes for each pool with proper decimal correction
- **Logic**: Group trades by day, pool address, and chain. Sum absolute values of token amounts to get total daily volume for each token in the pair. Apply decimal correction by dividing token amounts by 10^decimals for each respective token. Aggregate at the transaction level first, then sum across all trades for each pool-day combination.
- **Key fields**: `timestamp` truncated to day, `token0_amount` and `token1_amount` corrected for decimals

### Component E: USD conversion and manipulation filtering
- **Purpose**: Convert trading volumes to USD values while filtering out potential price manipulation
- **Logic**: Join daily volumes with end-of-day token prices for both tokens in each pair. Calculate USD values by multiplying corrected token amounts by respective USD prices. Apply manipulation filtering by taking the minimum USD value between the two tokens using the `least()` function. This prevents artificially inflated volumes from price manipulation on one token.
- **Key fields**: `trading_volume` as the final USD trading volume per pool per day

### Component F: Fee calculation
- **Purpose**: Calculate total fees generated by applying pool-specific fee rates to trading volumes
- **Logic**: Multiply the USD trading volume for each pool by its respective fee tier percentage. Fee tiers are already normalized as decimal percentages from the pool creation events. Sum fees across all pools and days to get total protocol fees.
- **Key fields**: `fees` calculated as `trading_volume` × `fee_tier`

### Final aggregation
- **Combining components**: Trading volumes from all pools are multiplied by their respective fee tiers and aggregated by timestamp and chain
- **Currency conversion**: All amounts are converted to USD using end-of-day price feeds, with manipulation filtering applied at the volume calculation stage
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation to day level
- **Final calculation**: Total supply-side fees equal the sum of (trading volume × fee tier) across all Maverick pools for each day and chain

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Portion of fees distributed to service providers or supply-side participants.

Maverick ProtocolMAV

Supply-side fees

Supply-side fees

Competitive landscape

Chain breakdown