Mavryk Network ($MVRK)
Mavryk Network ranks #161 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #4591: 4430 of the 4590 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 1367 non-native assets CoinSpectrum lists above it by market cap, about 60% are tokens, 32% are claims on other assets, 7% are memecoins and 1% are NFT collections.
| CoinSpectrum Grade | B · 61/100 · provisional, B to A |
|---|---|
| Rank among cryptocurrencies | #161 |
| Rank counting claims | #4591 |
| Market capitalisation | $6M |
| Price | $0.00572 |
| Circulating supply | 1,045,482,922 $MVRK |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Stake |
| Consensus mechanism | Liquid PoS (Tenderbake) |
| Network purpose | Smart-contract platform |
| Ledger type | Single-asset ledger |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
B — 61 out of 100, provisional (from 10 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 56 to 65 (B to A).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 9.1 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 9.1 | Proof of stake: 9.1 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 9.1 | Proof of stake: 9.1 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 7.5 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 8.3 | no fixed maximum; 1.05 billion in circulation |
| Distribution | 6.2 | average of 3 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 0.4 | 96% of today's supply allocated at launch to founders, a company, a foundation or investors. 1B MVRK genesis (TGE 2025-09-18): Private Sales 20%, Foundation 18%, Core Contributors 16%, Protocol Treasury 10%, Liquidity Mining 10%, Validator (loan) Program 9%, Public Round & Community Incentives 8.5%, Ambassadors 2.5%, Advisory 2%. These sum to 96%; 4% is unaccounted for. Against ~1.043B current supply (about 4% inflation since), 1.0/1.043 = 96%. source |
| Fundraising (share sold) (Source) | 8.1 | Sold by its issuer or insiders: 19.2% of supply sold. Private sales 20% (200M). Mavryk Dynamics raised $5.2M (February 2025; Ghaf Capital, Big Brain, MetaVest and others) plus a $10M strategic round led by MultiBank Group, about $15.7M in total. A public round is bundled with community incentives in the 8.5% bucket, and its size was not disclosed. source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. Mavryk is a Tezos fork (Boreas protocol). Issuance (~3.6%/yr) goes to bakers, attesters and stakers, and no protocol-treasury or foundation share of issuance is documented. The Protocol Treasury was a 10% genesis allocation, not a reward stream. source |
| Decentralisation | 5.4 | average of 4 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: No protocol-level freeze, blacklist or halt power over MVRK in implicit accounts; the protocol is the Tezos economic protocol with Mavryk parameters. source |
| No central team (Source) | 0 | A central team directs it: Mavryk Dynamics maintains the only client, mavryk-network/mavryk-protocol on GitLab, a fork of tezos/tezos (MIT-licensed Octez code); protocol amendments use Tezos-style on-chain baker votes. source |
| Who can mint (Source) | 7 | Gated by stake: any holder with enough stake can validate: access bought with coins |
| Nodes (Source) | 4.5 | 23 active validators or block producers (source: Active) |
| Security | 6 | 4.8 of 8 points source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | 10 | largest 17.5%, largest three 49.7% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 0.1 | about 278 transactions a day |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 1 | not mined: another consensus, 1 |
| Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point) | 7 | one client, latest version May 2026 |
| Open source (Node software) | ✓ | |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Scalability | 6.7 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.0000012 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 6.7 | about 338 simple transactions a second |
| Block time (10 minutes 10, less either side) | 3.6 | a block every 10 seconds |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | 10 | 0.524 MB limit, 31.5 MB per 10 minutes |
| Features (3 checks) | 3.3 | 1 of 3 passed |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✗ | Tenderbake with 10-second blocks finalises after two blocks, about 20 seconds. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✓ | Tezos-derived rolling history mode (Mavkit, mainnet Sep 2025) keeps only a minimal recent fragment of chain data and garbage-collects older blocks each cycle. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | Octez-style client light mode only cross-checks several RPC endpoints with Merkle proofs; no header-verifying light client. |
| Privacy | 5.2 | 5.2 of 10: whitepaper privacy 3.5 of 7, extra features 1.7 of 3, 1 not yet researched source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | 10 | Implicit accounts are hashes of user-generated keys, as in Tezos, with no identity check. |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | 0 | An account ledger: one running balance for each address, so the remainder stays at the sending address and its payments share one public history. |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | – | |
| Hidden amounts (Amounts confidential) | 5 | Sapling shielded transactions inherited from Tezos are in the live Boreas protocol (Sep 2025), usable through Sapling contracts. Optional: 5 of 10. |
| Hidden parties (Sender and receiver hidden) | 5 | Sapling zk-SNARK spends hide the sender and diversified shielded addresses hide the receiver inside the shielded pool. Optional: 5 of 10. |
| Network privacy (Origin hidden by default) | 0 | Octez-derived Mavkit node gossips operations directly; no Dandelion-style relay or built-in Tor. |
| Programmability | 7.8 | 7 of 9 points source |
| Token issuance (At protocol level) | 2 | Michelson smart contracts inherited from its Tezos fork, open to any account, carry FA1.2/FA2 tokens; mainnet since September 2025. |
| Smart contracts (General-purpose) | 2 | Michelson smart contracts inherited from its Tezos fork (Boreas protocol), open to any account on mainnet since September 2025. |
| Multisig and time locks (Without a third party) | ✓ | Michelson contracts can check several signatures (CHECK_SIGNATURE) against a threshold and compare the block time or level, as in Tezos's generic multisig and timelock contracts. |
| Atomic swaps (With other chains) | ✓ | Michelson can express hash-locked, time-locked contracts (SHA256 plus NOW), the construction Tezos atomic-swap contracts use. |
| Native DEX (Trades the coin itself, not a claim) | ✗ | No DEX found trading the coin itself: none on its own chain (DefiLlama), and not on THORChain, Maya, Chainflip, Komodo DeFi, BasicSwap, Bisq or Haveno (checked 2026-11-04). |
| Cross-chain messaging (Verified by the chain itself) | ✗ | No protocol-level cross-chain messaging in its documentation; asset bridges are separate services. |
| NFTs (Carried by the chain's rules) | ✓ | NFT contracts on its Michelson VM (the Mavryk docs tutorial builds one); the FA2 multi-asset standard comes with its Tezos lineage. |
| Demand | 1.3 | average of 4 measures |
| Exchanges (10 or more: 10) | – | exchanges not yet counted |
| Daily volume ($10K 0, $1B or more 10) | 0 | $9,824 traded in 24 hours; #2521 by volume |
| Turnover (volume ÷ market cap, 5% a day: 10) | 2.1 | 0.16% of its market cap a day |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | – | no order book on the nine exchanges read |
| Market cap ($1M 0, $10B or more 10) | 1.9 | $6.0M, 1.9 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | – | not measured |
| Wallet support (wallets that hold it, 10 or more: 10) | 1 | its own node and wallet, counted as 1: no wallet in the site's directory lists it yet |
| Record | 6 | average of 3 criteria |
| Age (years since genesis) (Source) | — | Genesis date not yet researched |
| Development (work, fixes, vulnerabilities) | 2 | 1 positive, 0 negative source |
| Positive | ||
| Steady work, 2 of 6 | ✓ | 4 commits in 2 of the last 12 months (gitlab.com/mavryk-network/mavryk-protocol); mavryk-protocol (Mavkit) final releases in the last 24 months: mavkit-v20.4 (2026-05-12) and mavkit-v20.3 (2025-09-13); release candidates v20.3-rc1/rc2 (2025-01, 2025-03) and v20.2-rc3 (2024-12-26) also fall in the window. The chain still runs protocol Boreas, unchanged since cycle 2 (Sep 2025). |
| Conduct (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
Proof of Stake coins
Ethereum ETHA+
BNB BNBA
Solana SOLA+
Uchain UCN
MAP Protocol MAPOA
SUPRA SUPRAB
LUKSO LYXAAll Proof of Stake chains →Proof of Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Monero XMRA+
Bitcoin Cash BCHA++
Litecoin LTCA+
Ethereum Classic ETCAAll Proof of Work chains →Supply
1,045,482,922 $MVRK are in circulation, against no fixed cap — issuance has no defined end.
Launch and allocation
| Premine (allocated at launch) | 96% of today's supply |
|---|---|
| Sold by the issuer or insiders | 19.2% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Nodes or validators | 23 |
| Fundraising | Public sale |
1B MVRK genesis (TGE 2025-09-18): Private Sales 20%, Foundation 18%, Core Contributors 16%, Protocol Treasury 10%, Liquidity Mining 10%, Validator (loan) Program 9%, Public Round & Community Incentives 8.5%, Ambassadors 2.5%, Advisory 2%. These sum to 96%; 4% is unaccounted for. Against ~1.043B current supply (about 4% inflation since), 1.0/1.043 = 96%.
Private sales 20% (200M). Mavryk Dynamics raised $5.2M (February 2025; Ghaf Capital, Big Brain, MetaVest and others) plus a $10M strategic round led by MultiBank Group, about $15.7M in total. A public round is bundled with community incentives in the 8.5% bucket, and its size was not disclosed.
Mavryk is a Tezos fork (Boreas protocol). Issuance (~3.6%/yr) goes to bakers, attesters and stakers, and no protocol-treasury or foundation share of issuance is documented. The Protocol Treasury was a 10% genesis allocation, not a reward stream.
Liquidity Mining (10%) is counted as an insider/ecosystem allocation because the project distributes it from genesis supply; without it, preminePct would be ~86. soldPct counts only the 20% private sales, so it is a floor.
Sources: docs.stakingrewards.com · stakingrewards.com · ventureburn.com · decrypt.co. Researched 2026-10-26, low confidence.
What a regulator has said
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
How CoinSpectrum ranks Mavryk Network
Mavryk Network is #161 among cryptocurrencies and #4591 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 4430 places between Mavryk Network's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).