One of the new methods Airdrop distribution Activity in test networks is projects. This method is more complicated than the previous common methods and users have to spend relatively more time to perform the requested tasks, also usually the token distribution time is not known. The purpose of these airdrops is to check the user experience and find possible bugs and errors of the project; Therefore, it is natural to encounter a problem while doing the relevant work and we should report it to the project team. In this issue of the series of weekly articles Introducing Airdropwe are going to Maverick Protocol project let’s pay Stay with the country of blockchain.
Introducing Maverick protocol airdrop
Maverick protocol It plans to provide a new infrastructure for DeFi that provides the most liquid marketplaces for traders, liquidity providers, Dao Treasuries and developers. At the heart of this protocol is an automated market maker (AMM). By automating the concentration of liquidity during price movement, Muric’s AMM protocol increases capital efficiency and liquidity, as well as better prices for traders and higher fees for liquidity providers.
One of the features of this protocol is the possibility of providing liquidity for the movement of the price of an asset in a certain direction. People’s liquidity is placed in different bins based on different prices. The price range in these pools varies and is determined by the LPs that originally built the pool. Liquidity providers can invest in any category they want based on their strategies.
Only one of these categories is active at any time, and swaps can only be made within that category. If the proportion of assets in the pool changes due to price fluctuations, another category is activated that matches the new price. LPs are paid when the category in which they created liquidity is active. Each LP also receives a fee in proportion to its share in a category of liquidity pool.
Modes of providing liquidity
When you want to provide liquidity in the Maverick protocol, you have 4 modes to choose from. Each of these mods is efficient for a specific type of strategy. The full explanation of how these mods work is beyond the scope of this article, and we will have a brief overview of these 4 mods in the following.
When the price of one of the existing assets of the pool increases, the demand to buy it against the other asset of the pool increases; As a result, the increased asset balance in the pool decreases and the other asset balance increases. In this case, the liquidity graph moves to the right. In the right mode, price movement is followed in one direction, allowing liquidity providers to have a liquidity strategy to take advantage of upward price movements.
The purpose of this mod is to avoid large unsustainable loss of LP when the price goes according to their analysis. If the liquidity provider’s prediction for the asset price to rise and move to the right is correct, it will benefit from the fees.
Let’s give an example for better understanding. Suppose we have an active USDC-ETH liquidity pool. An LP comes in and creates a right mode liquidity pool consisting only of USDC and concentrates it on the left side of the currently active stack. If the Ethereum price grows too much, all the Ether in the current active batch will be emptied and completely converted into USDC; As a result, the price enters the range of the next batch, which consists only of ETH.
In response to this, AMM moves all the liquidity of LPs to the right and re-concentrates. The previously active bank is completely filled with USDC and the bank on the left, which was only USDC, is easily combined with it. Therefore, the asset of the liquidity provider is again concentrated on the left side of the active category, and he will benefit from the fees collected in the previous category in proportion to his share, without incurring an unsustainable loss.
This mode works like the previous mode and follows the price if it moves to the left. If a liquidity provider believes that the price of an asset will decrease, then it can minimize its volatility loss.
In this case, the user’s liquidity will be concentrated in the price range, and it will be concentrated again when the price changes. This mode is suitable for users who seek to obtain the maximum available fees; But on the other hand, it increases the risk of unstable loss of the liquidity provider.
In this case, users can provide liquidity without involving AMM Muric’s liquidity change mechanisms. In this case, you add liquidity to a category and your liquidity remains in the same category regardless of the price movement. Due to the stability of liquidity in one category, the efficiency of capital will probably decrease; But maybe the user has a special and profitable strategy for this mode. If this mode is selected, 4 options are given to the user, which are:
- Single Bin: All liquidity is placed in the current active category.
- Flat: Liquidity is distributed equally among 11 categories around the current category.
- Exponential-Narrow: A large part of the liquidity is placed in a category around the current price, and the distribution of liquidity in the left and right categories decreases with a large slope.
- Exponential-Wide: Most of the liquidity is located around the current price and the distribution of liquidity in the left and right categories decreases with a slight slope.
Moric protocol investors
The Maverick protocol has managed to attract 9 million dollars in two phases so far. The first round of $1 million was raised by Jump Crypto and the second round was $8 million led by Pantera Capital. Other investors of this protocol are:
- The Spartan Group
- Circle Ventures
- GoldenTree Asset Management
- Coral Capital
- Tron Foundation
- Gemini Frontier Fund
- CMT Digital
- Shima Capital
Maverick protocol airdrop information
All users who participate in the testnet and complete the feedback form correctly and without copying will receive unique OAT tokens. These NFT tokens will play an essential role in the whitelisting process of Mava III peerless tokens.
Also, 11 people will directly enter the white list of Mava III NFTs, 10 of them will be selected by the Maverick team and one person will be selected by the community vote. To work on the Maverick and Chance protocol test network Receive airdropYou only have until October 3rd (11 Mehr 1401).
How to participate in the Maverick Protocol airdrop?
Usually, there is a prerequisite for participating in testnet airdrops, and that is a suitable wallet. To participate in the Maverick protocol testnet, you must have Metamask wallet installed. If you are not familiar with this wallet and have not installed it, take help from the following article. If you have a Metamask wallet, I suggest you create a new wallet to participate in Testnet airdrops.
First step: Connect the wallet to the protocol
come in Testnet Maverick Protocol and tap on Connect Wallet. If your wallet is not on the Ethereum Goerly test network, a message to switch network will appear and you need to click on Switch Network.
Second step: receiving test tokens
Click on Mint Test Tokens. In the window that opens, by clicking on any cryptocurrency, you can get its test token. You must have Ether test to pay for gas transactions and also to receive other specified cryptocurrencies; So first of all go to get ETH.
Click on your ETH to Fast Goerly It takes 0.25 test ether per day. In order to receive test ether, you need to create an account in Alchemy. If you haven’t done this before, you have to go through a few simple steps. Follow the steps on the site, then enter your address in Fast and click Send Me ETH. By clicking on other cryptocurrencies, you can add them to your wallet by confirming the transaction on Metamask and paying a small amount of Test Ether. In the same way, choose 2 cryptocurrencies as you like and add them to your wallet.
Third step: Token exchange
To Swap part of the Maverick protocol Go ahead and choose two different cryptocurrencies. First, you must click Approve and confirm in Metamask. Then click on Swap and then Confirm Swap and confirm the transaction on Metamask.
If you encounter the above error during swapping, you should reduce the number of tokens you have selected for swapping.
Fourth step: providing liquidity
To Pool part of the Maverick protocol go. Choose the currency pair you want to add liquidity to (of course you need to have balance of both in your wallet). Choose one of the three Fee Tiers and click Next.
Then you have to choose one of the 4 liquidity supply modes and press Next.
In this section, you must enter the number of cryptocurrencies you want to provide liquidity and click on Confirm.
Then, if necessary, you must approve the cryptocurrencies you have chosen and give the necessary approvals in Metamask. Finally, click on Confirm Amount. To fully test the protocol, it is better to create different currencies.
From Maverick Protocol Home Page You can also add liquidity in existing currency pairs.
Fifth step: liquidity management
When you go back to the Home page after funding, you will see the liquidity pool you added to that asset. Click Manage to manage it. It should be noted that this button is not active at the time of writing this article, but it will probably be activated soon.
Step 6: Write feedback
After full testing of the protocol to Feedback page go. You can only fill this form once, so write all the details and your opinion about the protocol. User feedback is very important to the project team, so try to write a thorough, professional and detailed review. If you come across a bug or error in a part or if you think the design of a part of the protocol is inappropriate, you should raise it here.
At the end of the form there is a section called Bonus Section. In this section, you can give an example by sending a tweet with the hashtags #MaverickAMM and @mavprotocol, which currency pair and liquidity mode you choose to earn more profit and explain your reason. You must enter the text of the tweet and its link in the form. Out of those tweeting, the 10 people with the best replies and most liked tweets will be able to mint a unique Mava III token.
Receive Maverick protocol airdrop for Iranian users
Considering that Maverick Protocol is decentralized and has not announced anywhere that it has a problem with users of certain countries, Iranians can use the services of this platform and participate in its airdrop testnet.
As always, to avoid possible problems, we recommend that you use a VPN to participate in this airdrop. It is also better to dedicate a wallet only to these testnets. The total time it will take you to participate in this Maverick protocol test network is about 20 or 30 minutes.
In airdrops, various projects active in the field of blockchain and cryptocurrency usually distribute part of their tokens or certain NFT tokens to users for free. The common way of airdropping in the past involved doing a few simple steps like following the project’s social networks. A newer approach that is becoming popular involves more complex steps and asks users to contribute to the project’s testnets. In this way, in addition to identifying bugs and errors, the experience and opinion of users when using the protocol is also evaluated. Tuesday this week Introducing Maverick Protocol Airdrop We paid and taught the different stages of participating in the testnet of this protocol. Have you ever tried making money from airdrops?