Tomcat is the Convex equivalent for the Maverick Ecosystem. If you haven’t heard of Tomcat before, you may also enjoy our prior post.
Today we are launching a special MAV vault designed to be the best place to participate in the Maverick Governance Airdrop.
Maverick announced a Governance Airdrop of 10,000,000 MAV tokens provided pro-rata to veMAV holders.
Instead of locking your MAV for 4 years to optimize your airdrop, Tomcat offers a way to receive the maximum airdrop, additional rewards and retain a liquid position.
Our Launch Vault allows users to:
Stake MAV for tcMAV
Unstake without penalty before the Airdrop
Receive full airdrop plus TOMCAT rewards
Receive more TOMCAT the earlier you stake
Are you interested? Here's our detailed Launch Vault FAQ:
Stake your MAV to receive tcMAV at a 1:1 ratio.
tcMAV is the wrapped liquid token for Maverick. You could compare tcMAV to cvxCRV.
Until the Lock Date, users can stake and unstake MAV. After the Lock Date, MAV will be max locked for veMAV and tcMAV can be exchanged for MAV in a Maverick LP.
In essence, Tomcat provides liquidity through tcMAV, while also offering maximum veMAV multipliers and Governance Airdrop rewards.
Latest update: Maverick has recently announced they are pushing back the Governance Airdrop Snapshot Date. This was previously announced to be the 27 July.
Tomcat Lock Date will be just prior to the updated Governance Airdrop Snapshot Date, which is not yet announced. Maverick has said it will align with Maverick Ecosystem Incentives Season One. We will update our Lock Date and timeline once Maverick confirms its Airdrop Snapshot Date.
Below is the timeline outlining the path to full veMAV and Tomcat functionality:
Launch Vault Opens (10 July): Stake MAV, receive tcMAV. Earn MAV and TOMCAT. Stake earlier for more TOMCAT.
Launch Sequence (10 July to Lock Date): Unstake without penalty during this window. We give flexibility so you can no-regrets lock MAV and earn more TOMCAT rewards. Take this time to learn about Tomcat & Maverick protocol plans.
Note: Maverick has announced the Airdrop and Lock Date will be extended to the start of Maverick Season 1. The date for this is currently unknown. Tomcat Lock Date and reward profile will confirm once Maverick confirms the Airdrop date.
Lock Date (Timing TBA by Maverick): No more unstaking. MAV held by Tomcat will be max locked for veMAV. You keep your tcMAV and can swap for other tokens. Lock Date will be just prior to the Maverick Governance Airdrop Snapshot date.
Maverick Governance Airdrop (Timing TBA by Maverick): 100% of airdrop is claimable by tcMAV holders. Additional rewards in TOMCAT provided based on how early you staked.
Features Unlocked (Timing TBA by Maverick): Tomcat will release additional features in sync with Maverick turning capability on. This includes: veMAV voting via tcMAV, boosted Maverick LP, cross chain voting, bribe returns, vlTOMCAT, and more.
There are two sources of rewards:
100% of Maverick’s airdrop
Additional TOMCAT rewards
MAV rewards
Maverick has announced a Governance Airdrop of 10,000,000 MAV tokens provided pro-rata to veMAV holders.
The longer you lock your MAV, the more non-transferrable veMAV you receive. If you maximum lock for 4 years, you receive >5x veMAV for each MAV locked.
By staking your MAV with Tomcat, we will maximum lock your MAV for veMAV and pass through 100% of the Governance Airdrop.
If you stake natively on Maverick, you will be airdropped non-transferrable veMAV. If you stake via Tomcat, you will receive additional tcMAV, a transferrable ERC20 token that will be exchanged on Maverick and has pass-through veMAV voting power.
The APY is computed by estimating the portion of Governance Airdrop earnable by MAV staked in Tomcat, considering the current supply of veMAV and MAV staked in Tomcat. As more users stake, MAV APY will reduce as the Airdrop is shared among more people.
TOMCAT rewards
In addition to the MAV Governance Airdrop rewards, you will earn TOMCAT based on how early you stake. It is not possible to give an APY in terms of MAV because TOMCAT does not yet have a market price.
We plan to release a detailed Tokenomics article prior to the Lock Date, providing the transparency needed to put the TOMCAT rewards in context and assess their value.
The TOMCAT token primarily serves two purposes:
To boost staking rewards such as this Launch Vault or staking Maverick LP in Tomcat (analogous to staking Curve LP in Convex for boosted rewards)
To be locked for voting power over the Tomcat protocol to direct TOMCAT emissions and other core protocol parameters
Please join our Telegram Community and Mirror during the Launch Sequence for more details and to discuss further details.
After the Maverick Governance Airdrop, you will be eligble to claim additional tcMAV tokens that represent the full amount of veMAV tokens provided by the airdrop.
You will also be able to claim TOMCAT tokens in proportion with the length of time staked.
Note: In order to calculate the length of time staked, you must claim from the same address as the one you originally staked with. Time staked is attached to the address used to stake MAV into the Launch Vault. If you claim rewards with a different address (after transferring tcMAV to a new wallet), you will receive the full veMAV/tcMAV Airdrop rewards but no TOMCAT rewards.
No fees are taken on the Maverick Governance Airdrop or associated TOMCAT rewards.
The Launch Vault is currently live on both Ethereum Mainnet and zkSync Era.
You can stake on either chain and be eligible for the same rewards.
Tomcat is long-term committed to the Maverick ecosystem. We believe transparency in functionality and operations is critical for good players in the ecosystem, so you are able to do your own research and make the best decision for yourself.
The contracts associated with the Launch Vault can be found here:
If you have any further questions, please join our community and ask!
A number of potential risks are associated with staking using metaprotocols.
Risk of Smart Contract Security Breach
There is an inherent risk that Tomcat could contain a smart contract vulnerability or bug. The Tomcat Launch Vault contracts are open-sourced and simple to minimise this risk. Upcoming core protocol contracts will be audited and covered by an extensive bug bounty program.
tcMAV price risk
Users holding tcMAV beyond the Lock Date face the risk of the tcMAV exchange price dropping below its inherent value due to the one way conversion to facilitate maximum lock of MAV for veMAV, making arbitrage and risk-free market-making impossible. Tomcat is driven to mitigate the above risks. Despite this, they may still exist and, as such, it is our duty to communicate them.
You can unstake your MAV anytime before the Lock Date in the Tomcat dapp by clicking ‘unstake’. You will burn your tcMAV in the process.
After the Lock Date, MAV withdrawal will no longer be possible, and it will be maximum locked for veMAV. Your tcMAV will receive benefits of native veMAV such as 100% pass through of the Governance Airdrop and pass through of veMAV voting power.
We will regularly publish on Mirror.
Please join our Community. You will be exposed to Top Gun memes.
Fly high.
— Tomcat
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