Vela is a decentralized exchange with advanced perpetual trading capabilities, community-focused incentives, and scalable infrastructure. Vela’s public beta will officially launch on Arbitrum on January 18th, and we’re excited to share that the $VELA token will first list on Camelot in the coming week.
Vela is one of the most exciting perpetual protocols in the space, and through our custom tech, we can support their journey on Arbitrum with sustainable and adaptable liquidity.
The $VELA token will launch on Camelot in the coming week. Stay tuned for further announcements and timing confirmations.
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. Through their innovative protocol design, Vela will usher in a new generation of perpetual trading native to Arbitrum.
Vela will launch their public beta on the 18th of January, with the $VELA token officially launching on Camelot in the coming week (final date to be announced shortly). $VELA is the native protocol token that will provide holders with several significant benefits, such as a share of revenue generated and discounts on trading fees.
Vela is an innovative protocol that brings a genuine alternative to centralized exchanges. Through this partnership, Vela’s team will seed initial liquidity on Camelot, with joint incentives in both $GRAIL and $VELA going live afterward, allowing the community to earn attractive but sustainable rewards. It is a privilege to support them on Arbitrum by welcoming them to the Round Table.
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 Vela Exchange trading platform provides significant upside over centralized exchanges with fair, equitable access to platform rewards, self-custody of assets, and zero requirements for a centralized clearing house.
While legacy decentralized applications and exchanges continue to deal with high execution costs, low performance, and other trade inefficiencies, Vela Exchange was built as a ‘next gen’ platform to overcome familiar DEX issues, including front-running, slippage, asset limitations, and lack of risk management features.
The $VELA token plays an essential role in the architecture of the protocol, with holders entitled to a share of protocol fees and several other benefits. In addition to $VELA, the protocol has a liquidity pool design with their VLP token. VLP is the liquidity provider token for the VELA Exchange platform, allowing traders to take positions with leverage. It’s based on USDC staking and can be redeemed for USDC at any time. Anybody can stake USDC to mint VLP and earn fees based on generated trading volume on the platform.
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 through several deflationary mechanisms
Camelot will leverage all its unique features to ensure that liquidity is deep and adaptable — tailored to what is most effective for the $VELA 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 $VELA pools or add even further custom requirements to Nitro pools. This high level of control will allow us to support the Vela protocol to build an efficient rewards structure for their token liquidity. Therefore, we can enable highly efficient returns on $VELA liquidity while bootstrapping critical infrastructure that benefits the entire ecosystem.
Most importantly, by welcoming Vela 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 Vela could open up new opportunities for use in other DeFi primitives.
The quest for GRAIL
After launching one month 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, with some very exciting announcements planned for the coming weeks.