Camelot announces GMX as a key launch partner
Camelot is proud to announce a partnership and the formation of a long-term relationship with the GMX DAO.
A long-term partnership for Arbitrum
GMX is one of the most fundamentally strong protocols in DeFi, and its success has been a significant catalyst for the Arbitrum ecosystem as a whole. In light of recent market events, the value in truly decentralized and permissionless financial primitives has become increasingly clear, and it is no surprise that GMX leads the way in providing users with robust alternatives to centralized products. GMX’s unique protocol design, innovative GLP liquidity pool, tokenomics, and ‘real yield’ have continued to influence the entire DeFi space.
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. As part of this partnership, GMX will receive an ownership allocation in the Camelot protocol and attractive incentives for GMX pools. Not only will this benefit the GMX protocol directly, but it additionally provides further yield opportunities for the GMX community.
As GMX continues to pioneer the decentralized derivatives market, this partnership will allow Camelot to fully focus on supporting the liquidity of GMX tokens. It is a privilege to support the GMX community, and we are confident that this marks an important milestone in furthering DeFi innovation on Arbitrum.
Supporting GMX through bespoke liquidity strategies
GMX is a decentralized perpetual exchange that supports low swap fees and zero price impact trades, allowing users to take up to x50 leverage. Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees & liquidations), and asset rebalancing. GMX’s unique tokenomics, robust trading product, and GLP model have made it one of the most profitable protocols in the space, with daily revenue consistently growing.
GMX is one of the most important native Arbitrum protocols, and we are therefore excited to have the opportunity to support their liquidity — as well as any other future bespoke liquidity requirements. This partnership will allow the broader ecosystem to see further innovation and collaboration.
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 those unique features to ensure that liquidity is deep and adaptable — tailored to what the GMX wants to achieve. This high level of control will allow GMX and the broader ecosystem to have an efficient rewards structure for token liquidity, leading to better trading for users and higher yields for LPs.
The community will have the opportunity to earn attractive yield through our genesis pools, as well as be able to leverage Nitro pools and other features after launch. With our novel spNFT tech, users can build custom strategies for their GMX positions by having varied lock durations and boosting this yield by holding xGRAIL.
GMX has proven to be one of the most traded tokens on Arbitrum, and we are excited to apply our dynamic features to achieve even further efficiency gains.
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 GMX 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.