Camelot announces Abracadabra as a key launch partner

To form a partnership that will achieve deeper and more efficient liquidity, Camelot is proud to announce Abracadabra as a key launch partner.

A long-term partnership for Arbitrum

Camelot is a custom-built protocol that aims to become the native Arbitrum DEX. By building multiple novel features from the ground up, Camelot enables higher capital efficiency and attempts to bring the real-yield approach to a DEX.

Abra is committed to providing liquidity for $MIM and $SPELL tokens on Camelot through this partnership. In addition to incentives and emissions, they will also receive an ownership stake in the protocol.

Not only will this provide deep and adaptable liquidity for $MIM and $SPELL, but most importantly, it will form the foundation for a long-term relationship that will closely align Abra and Camelot’s shared vision of growing the Arbitrum ecosystem.

Tailored liquidity strategies for Arbitrum native protocols

Abracadabra is a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD-pegged stablecoin (Magic Internet Money — MIM) that can be used as any other traditional stablecoin. SPELL is the protocol’s reward token and can be staked to be used in fee sharing and governance.

Throughout the previous year of significant volatility, MIM has proven itself a battle-tested stablecoin and continued to hold peg while other stables have faltered. We are therefore excited to have the opportunity to support their liquidity and any other future bespoke liquidity requirements.

Camelot’s vision is to build innovative infrastructure that supports other Arbitrum builders through custom features that don’t exist anywhere else:

• Unique AMM implementation that supports volatile & stable assets with dynamic fees (custom fees per pool, as well as per buy or sell direction)
• A custom NFT wrapper for staked positions that allows LPs to be reused for further capital efficiency gains
• Nitro pools allow protocols to permissionlessly incentivize liquidity based on custom requirements
• Innovative escrowed tokenomics that enable a more sustainable protocol that can capture real yield for holders

Camelot will leverage all its unique features to ensure that liquidity is deep and adaptable — tailored to what the Abra team wants to achieve. Most importantly, our AMM will support a stableswap-type pool for MIM/USDC — allowing for efficient and deep liquidity. On top of this, we will use our novel features to build a bespoke rewards structure for MIM and SPELL, allowing higher yields for the community and a more effective allocation of incentives by the Abra team.

For example, Nitro pools would allow Abra to incentivize liquidity in a custom way, such as by only rewarding LPs that lock for a certain time and deposit over a certain amount. In addition, we could set custom fees for $Abra pools or add even further custom requirements to Nitro pools.

Camelot’s upcoming launch

As mentioned in our more detailed launch schedule post, Camelot’s launch sequence will begin on 22nd November — when the genesis pools go live. Users will therefore be able to participate in the Abra pools from this date, earning attractive yield farming rewards before the Camelot protocol is fully live.

The overall sequence will be as follows:

Nov 22nd: Genesis pools are published and open to deposits
Nov 23rd: Genesis pools rewards start being allocated
Nov 29th: Public sale start
Dec 2nd: Genesis pools are closed to deposits
Dec 5th: Public sale end
Dec 6th: Token launch and farms open
Dec 7th: Farming rewards start

Please read this post for more details, and follow our main social pages to receive the latest updates and announcements.

The quest for GRAIL will soon begin.

Twitter: https://twitter.com/camelotdex
Discord: https://discord.com/invite/swsFVMjgzA
Telegram: https://t.me/camelotdex
Linktree: https://linktr.ee/camelotdex

Abracadabra: https://abracadabra.money/
Twitter: https://twitter.com/MIM_Spell
Discord: https://discord.com/invite/mim