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.

github

twitter

discord

etherscan

website

Exchanges (DEX)

Maverick Protocol

# Maverick Protocol Active users (daily) Methodology

## 1. Overview

Daily Active Users (DAU) for Maverick measures the number of unique users who execute trades on the Maverick DEX protocol each day. This metric counts distinct wallet addresses that initiate swap transactions across all supported chains (Ethereum, BSC, Base, and zkSync Era). The calculation uses HyperLogLog sketches for efficient approximate counting and provides breakdowns by chain, user type, and product dimensions.

## 2. Data sources

The DAU calculation relies on the following raw data sources:

- **Maverick protocol events**: Parsed `Pool_Swap_event` logs from Maverick v1 smart contracts across Ethereum, BSC, Base, and zkSync Era chains
- **Transaction data**: Complete transaction records from Ethereum, BSC, Base, and zkSync Era containing sender addresses and transaction metadata
- **Chain availability configuration**: Internal configuration data that determines which chains are currently operational and should be included in metrics

## 3. Step-by-step calculation

### Component A: Trade event extraction
- **Purpose**: Identifies all swap transactions executed on Maverick pools across supported chains
- **Logic**: Extracts `Pool_Swap_event` logs from Maverick v1 smart contracts on Ethereum, BSC, Base, and zkSync Era. Each swap event contains trade details including `tokenAIn` direction, `amountIn`, and `amountOut` values. The events are joined with corresponding transaction records to obtain the actual user address from the `from_address` field of the transaction that triggered the swap
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for linking events to transactions, `user_address` from transaction `from_address` field, `chain` identifier, and trade direction indicators

### Component B: Daily user identification  
- **Purpose**: Converts trade events into daily distinct user counts
- **Logic**: Groups all trade events by truncating `block_timestamp` to daily boundaries using `timestamp_trunc`. For each day, extracts the set of distinct `user_address` values who executed at least one trade. Classifies all users with the `user_type` of 'Trades' since DAU is specifically measuring trading activity. Applies chain availability filtering to exclude data from chains that are not currently operational
- **Key fields**: `timestamp` truncated to day granularity, `user_dau` containing unique user addresses, `chain` for multi-chain support, `user_type` set to 'Trades'

### Component C: HyperLogLog aggregation
- **Purpose**: Efficiently aggregates user counts across multiple dimensions while handling large user sets
- **Logic**: Converts daily user sets into HyperLogLog sketches with 15-bit precision using `hll_count.init`. Creates separate dimensional views by grouping data differently - project-level (all users combined), by chain (users per chain), by user type (currently only 'Trades'), and by product ID (currently null for Maverick). Uses `hll_count.merge_partial` to combine sketches and `hll_count.extract` to get approximate distinct counts
- **Key fields**: `hll` sketches for efficient storage, `dimensions` field indicating breakdown type, `chain_id`, `product_id`, and `user_type` for dimensional analysis

### Final aggregation
- **Combining components**: The different dimensional breakdowns (project-level, by chain, by user type, by product) are combined using UNION ALL operations to create a unified output with multiple granularities. Each row represents DAU for a specific combination of date, dimension type, and dimension values
- **Currency conversion**: Not applicable for user count metrics
- **Time aggregation**: Data is aggregated at daily boundaries using `timestamp_trunc` to day granularity. The `finalize_metric_user_dau` macro standardizes the output schema and implements a fill strategy that inserts zero values for days with no trading activity
- **Final calculation**: The final DAU value is the approximate distinct count of user addresses who executed trades on each day, calculated using HyperLogLog sketches for efficient processing of large user sets across multiple chains and dimensional breakdowns

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

Unique revenue-generating users over a fixed 24-hour window.

Maverick ProtocolMAV

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown