3 - 5 minute read
Camelot, an Arbitrum-based decentralized exchange, is set to unveil a major upgrade to its platform on Saturday. The new Arbitrum-based upgrade is aimed at improving the efficiency and user experience of its crypto trading platform. The v2 upgrade will roll out in three stages over the next few weeks.
Myrddin, Camelot’s pseudonymous founder, revealed that the first stage would deploy a beta-stage automated market maker (AMM) based on the codebase of Algebra, a liquidity-focused protocol. It will introduce significant enhancements to Camelot’s infrastructure, such as adjusting pool fees and supporting rebasing tokens like stETH.
The second stage will implement a UI overhaul, while the final stage will usher in farms for concentrated liquidity. The new upgrade promises to be more user-friendly and efficient than ever before, indicating an increased focus on the needs of the traders.
Camelot is the sixth largest protocol on Arbitrum, with more than $107.2 million in total value locked, according to crypto stats website DefiLlama. Despite recent market turbulence, GRAIL, Camelot’s native token, has registered a rally of approximately 3.7% over the past 24 hours, though it is down 23.4% from last week. At press time, GRAIL was trading at $2,363.15.
The exchange will distribute its non-transferable governance token, xGRAIL, to participants of the token’s public sale after completing the v2 upgrade. Camelot confirmed that making contributions before December 1, 12:00 am UTC would be eligible to receive around 25% bonus in $xGRAIL.
A Major Step Forward for Platforms
The release of Camelot’s v2 upgrade is an essential step forward for crypto trading platforms, as it streamlines the complex processes inherent in such platforms. According to Myrddin, the upgrade will make Camelot a leader among its peers in the cryptocurrency market.
In addition, the user interface overhaul component is expected to make the platform a more intuitive and comfortable environment for traders. A better and more responsive platform will enable traders to conduct transactions faster, which will significantly improve the trading experience for users.
The inclusion of rebasing tokens like stETH, in addition to automated market making, could streamline the platform’s liquidity, making trades faster and more efficient for users.
Final Thoughts
Camelot’s v2 upgrade promises to be a major plus for crypto traders looking to trade cryptocurrencies with high liquidity and efficiency. With its upgraded UI, rebasing tokens, and more efficient liquidity pools, traders can expect an even better user experience.
As the cryptocurrency market continues to evolve, traders must look for platforms that offer convenience, speed, and security at the same time. Camelot’s new upgrade checks all these boxes, making it an ideal platform for conducting trades in a highly competitive environment.
Traders should look out for the completion of the v2 upgrade and consider investing in the GRAIL token. With its strong support from the Arbitrum community, Camelot’s v2 upgrade is poised to make a significant impact on the world of crypto trading platforms.
