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 Trade count Methodology

## 1. Overview

The Maverick trade count metric measures the daily number of unique trades executed on Maverick V1 decentralized exchange pools across supported blockchain networks. This metric counts distinct transactions containing swap operations, providing insight into user trading activity and protocol engagement. The calculation aggregates swap events from Maverick's smart contracts, filtering and processing them into standardized daily trade counts.

## 2. Data sources

The calculation relies on several key data sources:
- **Maverick smart contract events**: `Pool_Swap_event` logs from Maverick V1 pools across Ethereum, BSC, Base, and zkSync Era networks, containing swap transaction details, amounts, and trade direction
- **Pool creation events**: `Factory_PoolCreated_event` logs that establish mappings between pool addresses and their underlying token pairs, including fee tier information
- **Blockchain transaction records**: Transaction data from supported chains to identify user addresses initiating trades
- **Token metadata**: Token information including decimal precision and symbols for proper amount calculations
- **End-of-day price feeds**: Daily token price data in USD for volume-based validation and filtering

## 3. Step-by-step calculation

### Component A: Raw trade extraction
- **Purpose**: Extracts individual swap transactions from Maverick V1 pools across all supported chains
- **Logic**: Queries `Pool_Swap_event` logs from Maverick contracts on Ethereum, BSC, Base, and zkSync Era networks. Captures key trade data including `transaction_hash`, `log_index`, pool `address`, `amountIn`, `amountOut`, and `tokenAIn` (indicating trade direction). Joins with blockchain transaction records to identify the `user_address` initiating each trade. Assigns business classification fields including `market_sector_id` as "exchanges", `business_segment_id` as "dex", and `business_line` as "Exchange AMM"
- **Key fields**: `transaction_hash` (unique trade identifier), `log_index` (event position), `account_address` (pool address), `trade_direction` (boolean indicating which token is input), `amount_in` and `amount_out` (raw swap amounts), `user_address` (trader)

### Component B: Trading pair metadata enrichment
- **Purpose**: Provides token pair information and decimal precision for proper amount calculations
- **Logic**: Extracts pool creation events from Maverick Factory contracts to map pool addresses to their underlying token pairs. Uses `Factory_PoolCreated_event` logs to identify `tokenA` and `tokenB` addresses for each pool, along with `fee` tier and `protocolFeeRatio`. Joins with token metadata to retrieve decimal precision and symbols for both tokens in each pair, creating standardized `account_name` format combining token symbols
- **Key fields**: `account_address` (pool identifier), `token0_address` and `token1_address` (underlying tokens), `token0_decimals` and `token1_decimals` (decimal precision), `fee_tier` (trading fee), `account_name` (token pair name)

### Component C: Volume calculation and validation
- **Purpose**: Processes raw trade amounts into USD-denominated volumes for validation and filtering
- **Logic**: Aggregates trade data daily using `timestamp_trunc` to group by day. Corrects token amounts by dividing raw values by their respective decimal precision (10^decimals). Calculates absolute values of token amounts to handle both buy and sell directions. Joins with end-of-day price feeds for both tokens in each pair to convert amounts to USD values. Applies anti-manipulation filtering by taking the `least` USD value between the two tokens in each trade, preventing artificially inflated volume from price discrepancies
- **Key fields**: `timestamp` (daily aggregation), `token0_amount` and `token1_amount` (decimal-corrected amounts), `trading_volume` (USD value using minimum of token pair values)

### Final aggregation
- **Combining components**: Joins processed trade data with trading pair metadata using pool addresses and chain identifiers to enrich trades with token information
- **Currency conversion**: Uses end-of-day price feeds joined on timestamp, chain, and token address to convert token amounts to USD for validation purposes (though final metric counts trades, not volume)
- **Time aggregation**: Groups trades by daily timestamp boundaries using `timestamp_trunc` function, maintaining `day` granularity
- **Final calculation**: Counts distinct `transaction_hash` values per day, grouped by `chain_id`, `market_sector_id`, `business_segment_id`, and `product_id`. Applies standardized metric formatting through `finalize_metric_trade_count` macro with zero-filling strategy for periods without trades, ensuring consistent time series reporting across all dimensional combinations

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

Number of trades executed on a decentralized exchange.

Maverick ProtocolMAV

Trade count

Trade count

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Chain breakdown