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 Liquidity turnover Methodology

## 1. Overview

Liquidity turnover measures how efficiently liquidity is being utilized in Maverick AMM pools by calculating the ratio of daily trading volume to total value locked (TVL). This metric indicates how many times the available liquidity "turns over" through trading activity - higher values suggest more active trading relative to the liquidity available. The calculation divides daily trading volume by TVL, where both components are measured in USD.

## 2. Data sources

- **Maverick AMM swap events**: Parsed `Pool_Swap_event` logs from Ethereum, BSC, Base, and zkSync Era chains containing trade amounts and directions
- **Maverick AMM liquidity events**: Parsed `Pool_AddLiquidity_event` and `Pool_RemoveLiquidity_event` logs from multiple chains for tracking deposits and withdrawals
- **Maverick factory events**: Parsed `Factory_PoolCreated_event` logs containing pool creation data with token pairs, fee tiers, and protocol fee information
- **Blockchain transaction data**: Transaction records from each supported chain for user address identification
- **End-of-day price feeds**: Daily USD price data for all tokens involved in Maverick pools
- **Token metadata**: Token symbol and decimal place information for proper amount normalization

## 3. Step-by-step calculation

### Component A: Trading volume calculation
- **Purpose**: Calculates daily USD trading volume for all Maverick pools across supported chains
- **Logic**: Extracts `Pool_Swap_event` logs containing `amountIn`, `amountOut`, and `tokenAIn` (trade direction) fields. Joins with pool metadata to get token decimal information and normalizes amounts by dividing by 10^decimals. Converts both token amounts to USD using end-of-day price feeds. To prevent price manipulation, takes the lesser USD value between the two tokens in each swap. Aggregates all trades by day, summing the USD values across all pools and chains.
- **Key fields**: `amountIn` (input token amount), `amountOut` (output token amount), `tokenAIn` (boolean indicating trade direction), pool `address` for joining with metadata

### Component B: Total value locked (TVL) calculation
- **Purpose**: Calculates the total USD value of assets deposited in Maverick pools
- **Logic**: Combines `Pool_AddLiquidity_event` (deposits) and `Pool_RemoveLiquidity_event` (withdrawals) logs from all supported chains. Each event contains `bindeltas` arrays with `deltaA` and `deltaB` amounts for token changes. Normalizes withdrawal amounts by making them negative. Deposits and withdrawals have amounts pre-normalized to 18 decimals, while trade amounts use token-specific decimals. Converts all amounts to USD using end-of-day price feeds. Calculates cumulative net deposits (deposits minus withdrawals) over time, treating this as the TVL.
- **Key fields**: `deltaA` and `deltaB` (token amount changes), `bindeltas` (array of bin-level changes), pool `address` for context

### Component C: Trading pair metadata
- **Purpose**: Provides essential context for each Maverick pool including token information and fee structures
- **Logic**: Extracts pool creation data from `Factory_PoolCreated_event` logs containing `poolAddress`, `tokenA`, `tokenB`, `fee`, and `protocolFeeRatio` fields. Joins with token metadata to get decimal places and symbols for proper amount normalization and display. Creates pool names by concatenating token symbols. Normalizes fee tiers by dividing by 10^18.
- **Key fields**: `poolAddress` (pool contract address), `tokenA` and `tokenB` (token contract addresses), `fee` (trading fee tier), token `decimals` for amount conversion

### Final aggregation
- **Combining components**: Trading volume and TVL are calculated independently and then combined through the liquidity turnover division
- **Currency conversion**: All amounts converted to USD using end-of-day price feeds matched by date, token address, and chain
- **Time aggregation**: Data aggregated to daily boundaries using timestamp truncation, with all events within a calendar day grouped together
- **Final calculation**: Liquidity turnover = Daily Trading Volume (USD) ÷ TVL (USD). The result represents how many times the total liquidity turns over through trading activity each day. Values are filled with zeros for days with no trading activity to maintain continuous time series.

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

Trading volume divided by total liquidity.

Maverick ProtocolMAV

Liquidity turnover

Liquidity turnover

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