Camelot, a decentralized exchange (DEX) on the Arbitrum network, has achieved impressive growth in just the first three months of the year.

According to on-chain data, the platform has set new records, building on its previous success. As of last week, the total value locked (TVL) on Camelot had increased by more than 50%, at times reaching almost $100 million USD. This DEX has been gaining attention for its overall activity on Arbitrum, particularly as its layer-2 solution is set to airdrop its token, ARB, on March 23rd, as reported by AZCoin News.

Camelot’s 24-hour trading volume has temporarily set a new all-time high (ATH) at $47.36 million USD, making it the third-largest decentralized trading solution on Arbitrum. Furthermore, Camelot has also made it onto the top 10 list of platforms with the most users on Arbitrum, according to Nansen.

According to Nansen, these are the top platforms with the highest number of users on Arbitrum.

This growth comes just after Arbitrum created a media storm with its airdrop announcement, leading many to expect Camelot’s usage to be among the criteria for earning an airdrop or retroactive reward. Currently, wETH, USDC, and GRAIL are the three tokens with the highest liquidity on Camelot, accounting for 64% of TVL, according to the platform’s analytics page.

In summary, Camelot’s performance on the Arbitrum network has been impressive, with on-chain data confirming its growth. As the platform prepares for its ARB token airdrop, its position among the largest decentralized trading solutions on Arbitrum is set to grow even stronger.

#Camelot #Arbitrum #GRAIL #crypto2023 #azcoinnews

This article was republished from azcoinnews.com

New V2 upgrades are now available, according to Camelot. The solution is intended to provide extremely efficient trading for the entire #Arbitrum ecosystem and will leverage Algebra's V2 proprietary implementation.

Algebra's v2 is a tick-based targeted liquidity AMM on top of Univ3. Three phases will precede the V2's release:

Stage 1 - On April 8, a liquidity concentration AMM will go live.

Stage 2 - UI improvements

Stage 3 - Farms with high productivity and concentrated liquidity

In the upcoming weeks, Stages 2 and 3 will be made accessible.

Since #Camelot is designed to support Arbitrum protocols, it naturally bases its strategy for delivering focused liquidity on how the #DEX can create the best possible product that native users, traders, and developers will want to use.

The difficulties of concentrated liquidity has been a major barrier to widespread adoption, especially for smaller users who are inexperienced liquidity providers and protocols that lack the ability to actively manage holdings or bootstrap their pools.

Camelot used Algebra's v2 codebase to its full advantage rather than creating a clAMM from scratch, allowing the DEX to focus on making the AMM work with our present infrastructure. By doing this, it is able to set up an AMM that is both suited to Camelot's particular needs and the wider Arbitrum ecosystem and provably effective.

The new AMM will provide a more user-friendly experience with features including directed and dynamic volatility fees, limit orders, rebasing tokens, and customizable tick spacing.

The goal is to increase the usability and accessibility of concentrated #liquidity so that the average user and passive LP can benefit from the same efficiency gains as a professional and active trader. By doing this, Camelot believes it will be able to generate more volumes and revenues while also giving protocols a way to bootstrap their pools.

This news is republished from https://coinaquarium.io/