Arbitrum-Based Camelot Crypto Exchange to Deploy V2 Upgrade Saturday

Arbitrum-based decentralized exchange (DEX) Camelot will begin rolling out a v2 upgrade on Saturday aimed at making its crypto trading platform more efficient and user-focused, according to a Camelot blog post.

The upgrade will launch in three phases, pseudonymous founder Myrddin said in Discord. First, on Saturday, Camelot will deploy a beta-stage automated market maker (AMM) based on the codebase of Algebra, a liquidity-focused protocol. The v2 upgrade will introduce “major enhancements” to Camelot’s infrastructure, such as adjusting pool fees and supporting the rebasing tokens like stETH.

The second stage will overhaul user-interface, while the final stage will release farms for concentrated liquidity.

Camelot’s native token, GRAIL, has rallied roughly 3.7% over the past 24 hours but remains down 23.4% from last week, according to CoinGecko veri. GRAIL was trading at $2,363.15 at press time.

Recommended for you:

  • Crypto Markets Analysis: Bitcoin and Ether’s Flat Trajectory to Continue, Technical Indicators Suggest
  • What Hic et Nunc’s Resurrection Says About Decentralized Infrastructure
  • Crypto Derivative Volumes Saw Speedy Growth as Prices Rose in January
  • Join the Most Important Conversation in Crypto and Web3 in Austin, Texas April 26-28

Camelot is the sixth largest protocol on Arbitrum, with more than $107.2 million in total value locked, according to crypto stats website DefiLlama. Moreover, the exchange will distribute its non-transferable governance token xGRAIL to participants of the token’s public sale sometime after the v2 upgrade is completed.

Interested  Dash Blockchain Halts, Binance Pool Suspends Mining Rewards

“All contributions before Dec 1st 12am UTC will be eligible to receive ~25% bonus in $xGRAIL,” wrote Camelot on Twitter.

Comments are closed.