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 Average trading volume (per trade) Methodology

## 1. Overview

Trading volume average per trade count measures the average USD value per transaction on Maverick AMM across all supported chains. This metric is calculated by dividing total daily trading volume by the number of unique trades, providing insight into the typical transaction size on the protocol. The calculation spans Ethereum, BSC, Base, and zkSync Era networks where Maverick V1 operates.

## 2. Data sources

- **Maverick swap events**: Parsed `Pool_Swap_event` logs from Maverick pools across Ethereum, BSC, Base, and zkSync Era chains containing trade amounts, directions, and pool addresses
- **Maverick factory events**: Parsed `Factory_PoolCreated_event` logs from all supported chains providing trading pair creation data, fee tiers, and token pair configurations
- **Blockchain transaction data**: Transaction records from Ethereum, BSC, Base, and zkSync Era networks providing user addresses and transaction metadata
- **End-of-day price feeds**: Daily token price data in USD for accurate value conversion across all supported tokens and chains
- **Token metadata**: Token information including symbols, decimal places, and addresses for proper amount calculation and display formatting

## 3. Step-by-step calculation

### Component A: Trade event extraction
- **Purpose**: Extracts raw trading activity from Maverick AMM pools across all supported chains
- **Logic**: Collects `Pool_Swap_event` logs from Maverick pools on Ethereum, BSC, Base, and zkSync Era. Each swap event contains the pool address, trade direction indicated by `tokenAIn` boolean, input amount `amountIn`, and output amount `amountOut`. The system joins these events with corresponding blockchain transaction data to capture the user addresses executing the trades. Trade direction determines whether tokenA or tokenB is the input token, with amounts split accordingly into `token0_amount` and `token1_amount` fields.
- **Key fields**: `tokenAIn` (trade direction boolean), `amountIn` (input token amount), `amountOut` (output token amount), `user_address` (trader), `account_address` (pool address)

### Component B: Trading pair dimension
- **Purpose**: Provides metadata and configuration details for each trading pair to enable proper amount calculation
- **Logic**: Extracts trading pair information from `Factory_PoolCreated_event` logs across all chains. These events capture when new pools are created, recording the token addresses for both sides of the pair, fee tier percentages, and protocol fee ratios. The system joins this data with token metadata to obtain decimal places for each token and creates human-readable pool names by concatenating token symbols. Fee tiers and protocol fees are converted from wei denomination by dividing by 10^18.
- **Key fields**: `token0_address` and `token1_address` (trading pair tokens), `token0_decimals` and `token1_decimals` (for amount correction), `fee_tier` (trading fee percentage), `account_name` (formatted pair name)

### Component C: Volume calculation and USD conversion
- **Purpose**: Converts raw token amounts to USD-denominated trading volumes with price manipulation protection
- **Logic**: Joins trade events with trading pair metadata to access token decimal information. Raw token amounts are corrected by dividing by 10 raised to the token's decimal places. The corrected amounts are then converted to USD by joining with end-of-day price feeds for both tokens in each pair. To prevent price manipulation attacks, the system takes the minimum USD value between the two token amounts in each trade using the `LEAST` function. If either price is unavailable, the trade volume defaults to zero. All volume calculations aggregate at the daily level using transaction timestamp truncation.
- **Key fields**: `trading_volume` (USD value after decimal correction and manipulation filtering), `timestamp` (daily aggregation boundary)

### Component D: Trade count calculation
- **Purpose**: Counts the number of unique trading transactions per day
- **Logic**: Uses the same intermediate trading data but focuses on counting distinct transaction hashes rather than summing volumes. Groups trades by day and counts unique `transaction_hash` values to determine how many separate trading transactions occurred. This approach ensures that multi-step or complex transactions are counted as single trades while avoiding double-counting from multiple log entries within the same transaction.
- **Key fields**: `trade_count` (distinct transaction count), `transaction_hash` (unique trade identifier)

### Final aggregation
- **Combining components**: The daily trading volume totals and daily trade counts are joined on timestamp to create matched pairs of volume and count data for each day
- **Currency conversion**: All USD conversions use end-of-day price feeds, with decimal correction applied before price multiplication to ensure accurate value representation
- **Time aggregation**: Data aggregates at daily boundaries using timestamp truncation, with gap filling applied using a 'fill zeros' strategy to ensure continuous time series data
- **Final calculation**: The average volume per trade is computed using safe division of total daily trading volume by daily trade count, preventing division by zero errors when no trades occur on specific days

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

Maverick ProtocolMAV

Average trading volume (per trade)

Average trading volume (per trade)

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