Perpy is a social trading protocol built on top of GMX and native to Arbitrum. With their open beta already live, Perpy enables fully on-chain access to copy trading on decentralized perpetual exchanges. Users can follow the most successful traders in a fully transparent way, and traders can monetize their skills through performance fees.
Perpy’s end goal is to be the SocialFi hub supporting multiple DEXs to give the best trading avenues for traders.
We’re excited to announce that Perpy will host their public sale, with the $PRY token exclusively listed on Camelot afterward. Perpy leverages the existing framework built by GMX, and we’re proud to be therefore supporting even further collaboration and innovation within the Arbitrum ecosystem.
Perpy will be leveraging Camelot’s fair-launch sale platform in March 2023. Stay tuned for final confirmations and details.
A long-term partnership to support innovation on 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.
By welcoming Perpy to the Round Table, we are committed to supporting the launch of the $PRY token with our custom-built fair-launch model. In November, we launched $GRAIL through a fair-launch public sale, and we’re excited to offer this as a feature for other Arbitrum native builders.
The $PRY token will ONLY be listed on Camelot after the public sale. We are committed to ensuring deep and long-term liquidity for $PRY through our novel features and sustainable GRAIL incentives. Using a fixed-price auction model, Perpy will provide their community with an equal opportunity to participate, and we’re excited for their future growth on Arbitrum. Perpy is fully self-funded with no VC, seed, or private round; therefore, the Camelot launch platform is a natural fit that prioritizes the community. The $PRY token plays an important role in the mechanics of the Perpy platform, and we’re proud to support the team.
The Round Table comprises the key Arbitrum builders, and we are excited that this partnership will further align the ecosystem with collaborating, innovating, and building.
Perpy’s copy trading solution is built directly on top of GMX through a set of smart contracts. As an investor, Perpy allows you to copy the most successful GMX traders; as a trader, Perpy allows you to monetize your trading skills through aperformance fee taken from the profits you’ll make with investors' funds.
As a fully on-chain protocol, Perpy offers transparency on traders’ performance and how the strategies are structured and operated. Moreover, the architecture of their smart contracts ensures that assets are safe and secure and that users' money goes where they want it to, whenever they decide.
Perpy allows traders to create their investment vehicle in a few clicks, manage their trades in a simple, secure, and low-cost way and choose their fee. In addition, users can also share their vaults on social networks, quickly gaining exposure with Perpy’s inbuilt social tools.
The Perpy protocol will initially launch on Arbitrum, with cross-chain expansion plans for the future too. Their open beta is currently live with over $1m in volume — https://beta.perpy.finance/
Perpy team thoroughly thought about the $PRY token utilities and its tokenomics serving the community at best. One notable utility is that 100% of revenue protocol will be distributed to the stakers!
Custom-built Liquidity Infrastructure
Camelot’s vision is to build innovative infrastructure that supports other Arbitrum builders through unique custom features:
- 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 incentivize liquidity based on custom requirements permissionlessly
- 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 is most effective for the $PRY token. For example, Nitro pools would allow us 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 $PRY pools or add even further custom requirements to Nitro pools. This high level of control will allow us to support the Perpy protocol to build an efficient rewards structure for their token liquidity. Therefore, we can enable highly efficient returns on $PRY liquidity while bootstrapping critical infrastructure that benefits the entire ecosystem.
Most importantly, by welcoming Perpy to the Round Table and building deep liquidity for their token, we hope to foster further innovation within the Arbitrum ecosystem. For example, deeper liquidity for Perpy could open up new opportunities for use in other DeFi primitives.
The quest for GRAIL
After launching two months ago, we’re proud to have set the initial foundations for Camelot to become the Arbitrum native DEX.
Before launching, we announced the formation of the Round Table with our Genesis partners: GMX, Umami, Jones, Buffer, GMD, Sperax, and Nitro Cartel. With our partner’s support, our genesis pools allowed us to bootstrap $15m TVL before even having a token live!
Following our initial partners and genesis pools, we proceeded with the fair launch of our $GRAIL token. We’re proud to have had a smooth sale, raising over $3.8m with a final valuation of $25m FDV! No VC, no presale, $GRAIL was an utterly fair opportunity for the community to purchase.
From the beginning, Camelot is designed as a custom-built protocol that prioritizes sustainable tokenomics and long-term behavior. We’re proud that our Genesis farms & fair launch sale demonstrated these commitments to the community.
Now that the foundation has been set, we’re excited to move forward at full speed. We just concluded the first community public sale from Neutra Finance, and in the coming weeks, we will see exclusive launches from Vela, Factor, and many more.
We’re excited to be the home for Arbitrum native builders, and we look forward to what we can achieve as an ecosystem that works and builders together.