Camelot Partnership with GMX

Published on: 25.11.2022
Camelot Partnership with GMX

Camelot Partnership with GMX, Camelot is excited to share that it will be working with the GMX DAO on a long-term basis.

A long-term partnership for Arbitrum

GMX’s success has propelled the expansion of the whole Arbitrum ecosystem. GMX is a pioneer in providing clients with reliable alternatives to centralized commodities as a result of recent market events.

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. As part of this partnership, GMX will receive an ownership allocation in the Camelot protocol and attractive incentives for GMX pools. Not only will this benefit the GMX protocol directly, but it additionally provides further yield opportunities for the GMX community.

Camelot will maintain the liquidity of GMX tokens as GMX continues to pioneer the decentralized derivatives market.

Supporting GMX through bespoke liquidity strategies

GMX is a decentralized perpetual exchange with cheap swap costs, 0% price effect transactions, and x50 leverage. GMX’s innovative tokenomics, powerful trading product, and GLP model make it one of the most lucrative protocols in the field.

Camelot’s vision is to build innovative infrastructure that supports other Arbitrum builders through custom features that don’t exist anywhere else:

  1. Unique AMM implementation that supports volatile & stable assets with dynamic fees (custom fees per pool, as well as per buy or sell direction)
  2. A custom NFT wrapper for staked positions that allows LPs to be reused for further capital efficiency gains
  3. Nitro pools allow protocols to permissionlessly incentivize liquidity based on custom requirements
  4. Innovative escrowed tokenomics that enable a more sustainable protocol that can capture real yield for holders

Camelot will use these features to ensure deep, adaptable liquidity for the GMX team. Able to implement an efficient token liquidity incentives structure, resulting in improved user trading and greater LP returns.

The community will be able to use genesis pools, Nitro pools, and other features after launch. With spNFT, users can build custom GMX strategies by varying lock durations and holding xGRAIL.

About GMX

GMX is a permissionless and decentralized exchange system that provides a capital-efficient on-chain alternative for hedging Bitcoin, Ethereum, and AVAX. GMX was developed by the Global Markets Exchange (GMX) company.

Website | Twitter

About Camelot

Camelot is an innovative and highly flexible DEX built to support the Arbitrum ecosystem. Community driven and capital efficient.

Website | Twitter

SOURCE: https://camelotdex.medium.com/camelot-announces-gmx-as-a-key-launch-partner-b9875669782e

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