The improve will launch in three phases, pseudonymous founder Myrddin stated in Discord. First, on Saturday, Camelot will deploy a beta-stage automated market maker (AMM) primarily based on the codebase of Algebra, a liquidity-focused protocol. The v2 improve will introduce “main enhancements” to Camelot’s infrastructure, comparable to adjusting pool charges and supporting the rebasing tokens like stETH.
The second stage will overhaul user-interface, whereas the ultimate stage will launch farms for concentrated liquidity.
Camelot’s native token, GRAIL, has rallied roughly 3.7% over the previous 24 hours however stays down 23.4% from final week, in keeping with CoinGecko knowledge. GRAIL was buying and selling at $2,363.15 at press time.
Camelot is the sixth largest protocol on Arbitrum, with greater than $107.2 million in complete worth locked, in keeping with crypto stats web site DefiLlama. Furthermore, the alternate will distribute its non-transferable governance token xGRAIL to individuals of the token’s public sale someday after the v2 improve is accomplished.
“All contributions earlier than Dec 1st 12am UTC will probably be eligible to obtain ~25% bonus in $xGRAIL,” wrote Camelot on Twitter.