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 user) Methodology

## 1. Overview

The trading volume average per user metric measures the average daily trading volume per daily active user on the Maverick decentralized exchange. This metric answers the business question: "How much trading volume does each active user generate on average per day?" The calculation divides the total daily trading volume (in USD) by the number of unique daily active users, providing insight into user engagement intensity and trading behavior on the Maverick AMM platform.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Blockchain events**: Parsed Maverick `Pool_Swap_event` logs from Ethereum, BSC, Base, and zkSync Era capturing trade executions, amounts, and directions
- **Pool creation events**: Maverick `Factory_PoolCreated_event` logs containing trading pair information, token addresses, and fee tiers
- **Transaction data**: Blockchain transaction records from Ethereum, BSC, Base, and zkSync Era to identify user addresses initiating trades
- **External data**: End-of-day token price feeds for USD conversion and token metadata containing symbols and decimal specifications
- **Chain data**: Multi-chain support across Ethereum, BSC, Base, and zkSync Era networks

## 3. Step-by-step calculation

### Component A: Trading volume calculation
- **Purpose**: Calculates the total daily trading volume in USD across all Maverick pools and chains
- **Logic**: Extract `Pool_Swap_event` logs from Maverick AMM contracts, capturing the `amountIn`, `amountOut`, and `tokenAIn` direction fields. Join with transaction data to get block timestamps. Map swap events to trading pairs using pool addresses from `Factory_PoolCreated_event` logs to get token addresses and metadata. Correct raw token amounts by dividing by the appropriate decimal places using token metadata. Convert corrected amounts to USD using end-of-day price feeds matched by date, chain, and token address. Apply anti-manipulation logic by taking the lesser USD value between the two tokens in each swap pair. Aggregate daily totals by summing all trading volumes across chains, pools, and transactions
- **Key fields**: `amountIn` and `amountOut` (raw swap amounts), `tokenAIn` (trade direction boolean), `poolAddress` (identifies trading pair), `token0_address` and `token1_address` (from pool creation events), token decimals for normalization, and `price_usd` from price feeds

### Component B: Daily active users calculation  
- **Purpose**: Counts unique daily active users across all Maverick trading activity
- **Logic**: Extract user addresses from the `from_address` field in transaction data for all Maverick swap transactions. Truncate timestamps to daily boundaries and identify unique users per day. Use HyperLogLog sketches to aggregate unique users across different dimensions while avoiding double-counting users who trade on multiple chains or products within the same day. The aggregation creates breakdowns by project level, individual chains, user types, and product categories. Extract final unique user counts from merged HLL sketches
- **Key fields**: `from_address` (user initiating trade), `block_timestamp` (for daily boundaries), chain identifiers, and user type classifications

### Component C: Trading pair metadata
- **Purpose**: Provides mapping between pool addresses and their underlying token pairs with associated metadata
- **Logic**: Extract `Factory_PoolCreated_event` logs containing pool creation parameters including pool address, token A and B addresses, fee tiers, and protocol fee ratios. Join with token metadata to get symbols and decimal specifications for proper amount calculation. Create trading pair names by concatenating token symbols. Convert fee ratios from raw values to decimal percentages by dividing by 10^18
- **Key fields**: `poolAddress`, `tokenA` and `tokenB` addresses, `fee` and `protocolFeeRatio`, token symbols and decimals

### Final aggregation
- **Combining components**: Join daily trading volume totals with daily active user counts on matching timestamps, ensuring both metrics cover the same time periods and project scope
- **Currency conversion**: All amounts converted to USD using end-of-day price feeds matched by date, chain, and token address
- **Time aggregation**: Daily boundaries created by truncating block timestamps to day level, with all metrics aggregated to daily totals
- **Final calculation**: Calculate average trading volume per user using safe division of total daily trading volume by daily active user count, which handles cases where user count might be zero by returning null instead of causing division errors. Apply gap-filling strategy to insert zero values for missing dates to ensure complete time series coverage

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

Average trading volume (per user)

Trading volume divided by daily active users.

Maverick ProtocolMAV

Average trading volume (per user)

Average trading volume (per user)

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