Camelot welcomes Redacted Cartel to the Round Table
Redacted Cartel is an outstanding team of DeFi builders delivering innovative products across multiple chains, such as Hidden Hand, Pirex, and soon Dinero. Redacted & $BTRFLY have a powerful presence across several ecosystems, and we’re incredibly excited to help usher them into Arbitrum. In addition to welcoming them to the Round Table, we’re keen to support the exclusive listing of Redacted’s forthcoming Pirex product — pxGMX. The pxGMX/ETH pool will be seeded on Camelot after their vault launches tomorrow.
This partnership will be first formed through seeding pxGMX/ETH liquidity on Camelot. Moving forward, Camelot is committed to providing bespoke support for future Redacted liquidity on Arbitrum, for example, the $BTFRLY token and future stablecoin $DINERO.
We’re proud to be able to work with one of the key players in the DeFi space, and we’re excited to welcome Redacted Cartel to the Round Table alongside our other valuable Arbitrum partners. The pxGMX/ETH pool will be seeded tomorrow, 30th Jan, at 9 pm UTC, with $GRAIL incentives going live simultaneously.
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 Redacted Cartel to the Round Table, we are committed to supporting the launch of their pxGMX product through an incentivized pxGMX/ETH pool on Camelot. Camelot is designed to move away from the standard short-term yield farm model to prioritize long-term and sticky liquidity. Therefore, we’re excited to build deep and sustainable liquidity for Redacted through our custom features, such as Nitro pools, dynamic fees, and spNFTS. The partnership will begin with the liquidity for pxGMX and then eventually expand as the following Redacted products are deployed on Arbitrum.
Redacted Cartel is an innovative project building decentralized products that bring significant value and utility to the broader DeFi space. It is a privilege to support them on Arbitrum by welcoming them to the Round Table, and we’re committed to a long-term relationship that provides them with a bespoke service.
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.
The Redacted ecosystem is a product suite of smart contracts empowering on-chain liquidity, governance, and cash flow for DeFi protocols. The Redacted Cartel plays a significant role in the broader DeFi ecosystem, with its suite of products being backed by a treasury of key assets.
Hidden Hand by Redacted is a marketplace for governance incentives, commonly referred to as “bribes.” Protocols can leverage Hidden Hand to enable more efficient governance processes and to engage their voters, and in addition, users can earn further yield on their tokens.
Pirex is a product by Redacted, which creates liquid wrappers that allow for auto-compounding and tokenizing future yield/vote events. In addition, Pirex will also include an ecosystem of applications on top of liquid wrappers, enhancing the utility of governance tokens for users, enabling novel utility, and providing exclusive yield opportunities to Pirex wrappers’ users.
Hidden Hand and Pirex are live, and pxGMX is going live tomorrow. Redacted is busy building its future stablecoin — Dinero. Dinero takes multiple innovative elements to create a stablecoin backed by novel liquid staking mechanisms. Redacted has proven its ability to build, and we’re excited to see what it can bring to the Arbitrum ecosystem.
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 Redacted liquidity. 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 Redacted pools or add even further custom requirements to Nitro pools. This high level of control will allow us to support the Redacted protocol to build an efficient rewards structure for their token liquidity. Therefore, we can enable highly efficient returns on Redacted liquidity while bootstrapping critical infrastructure that benefits the entire ecosystem.
Most importantly, by welcoming Redacted Cartel 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 Redacted 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 $20m 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, and $GRAIL was a 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 have seen significant volume following the launch of $VELA and several Jones pools EXCLUSIVELY on Camelot.
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.