The DEX wars in the Arbitrum ecosystem is starting to get heated especially with the launch of a ton of powerful Dexes in recent times…
But in spite of all of this, there seems to be one that’s currently brewing up to win the DEX wars… and take over the reins as the leading Arbitrum Dex.
Plus you could earn REAL YIELD using their new liquidity approach.
Trust me, this is nothing that’s obtainable in most DeFi protocols.
And there’s the powerful tokenomics model as well.
But don’t take my word for it…
Let’s find out what this is all about… and why this protocol could well be on their way to win the DEX wars…
Camelot DEX is an ecosystem-focused and community-driven DEX built on Arbitrum.
It is based on a dual AMM i.e able to support both volatile (UniV2) and stable (Curve-like) swaps.
It has a TVL of over $20M according to https://defillama.com/protocol/camelot.
The key feature of the Camelot Dex is the introduction of a novel liquidity approach based on non-fungible staking positions (spNFTs).
Here’s how this works…
You earn trading fees (in GRAIL/$XGRAIL) when you deposit LP tokens in the relevant pool contract and create a staking position for an incentivized liquidity pool on the Camelot Dex.
Upon creating a staking position, you get a staking position NFT (spNFT) which serves as a deposit receipt. This staked position NFT (spNFT) hands a user the power to withdraw the corresponding funds.
Then there’s the Nitro Pool where you can stake/lock your staking position NFT (spNFT) and earn additional rewards like trading fees, farming emissions, Nitro rewards.
The Nitro Pool is the one of the most interesting features on the Camelot Dex, and this has caught the attention of other external protocols to bootstrap liquidity for their pools.
This approach was introduced to replace the regular yield farms obtainable in most DeFi protocols.
You can read more about it here –
https://docs.camelot.exchange/protocol/staked-positions-spnfts
Tokenomics
The native token of the Camelot Dex is $GRAIL. It can be earned as yield rewards on incentivized staking positions. It has a maximum supply of 100,000.
Plus, there’s a deflationary mechanism put in place by the team to reduce the supply.
And this has seen the price constantly shooting up even though we’re in a downtrend.
Incredible tokenomics model in my opinion.
Then there’s the $XGRAIL token which is the non-transferrable escrowed governance token corresponding 1:1 to staked $GRAIL.
It can be earned from yield-generating staking positions (spNFTs), or through direct GRAIL conversion. $XGRAIL can also be allocated to a plugin (dividends or yield booster) to accrue benefits.
The team at Camelot Dex has been relentless in forming partnerships with some of the top DeFi protocols in recent times such as Justbet official, Hop protocol, Vela Exchange, Tarot protocol, Bond protocol etc.
The Nitro Pool has gained a lot of interest amongst these external protocols as they intend to leverage it to bootstrap liquidity… and incentivize users who lock in liquidity to their liquidity pools.
With the introduction of their unique liquidity approach and relentless pursuit in bringing more top protocols to the roundtable plus an awesome tokenomics model, Camelot Dex might well be on their way to becoming the true Arbitrum native Dex.
You can read more about Camelot Dex here…
Twitter page – https://twitter.com/CamelotDEX
Website – https://camelot.exchange/
