Whats remarkable about the Hidden Gem PlutusDAO project on Arbitrum?
In this article, we will learn about a project that is considered Hidden Gem on the Arbitrum ecosystem, which is PlutusDAO.
Camelot is an ecosystem-focused and community-led DEX, built on Arbitrum . Camelot is built with performance and customization in mind, allowing builders and users to leverage custom infrastructure for depth, sustainability, and flexibility in the user experience.
AMM is at the heart of the Camelot ecosystem, evolving in the following directions:
The system will provide volatile asset pools to users. The user can choose to lock the liquidity for the desired time or not to lock the liquidity. If users lock into the pool for a long time, they will get more rewards from the protocol.
Assets locked in the pool will be represented by spNFT.
Features of spNFT:
When users provide assets to Camelot via dual assets, they will be rewarded with an LP pair and a promotion of GRAIL tokens and xGRAIL tokens at the rate of 80/20.
Nitro Pool is where the Pools are created that provide liquidity for Camelot's partner projects and for the user community. Combined with the liquidity provision, the project will create a new layer of rewards in ETH coins to support the projects inside.
There are two types of Nitro Pools:
This is a great way to incentivize the supply of liquidity to Camelot's partner projects, as projects on Arbitrum are limited in terms of liquidity. Currently, each project has its own DEX, if Camelot is successfully deployed, Nitro Pool can become a large liquidity center for partner projects such as GMX, Buffer Finance, Sperax, JonesDAO, Dopex...
Genesis Pool is a pre-made liquidity pool with the purpose of helping to support liquidity for partner projects through Liquidity Farming in Camelot. The main reward for participation will be paid in tokens of those projects and a small amount of GRAIL tokens and xGRAIL tokens.
This liquidity pool is expected to open within 6 months from November 22, 2022.
Plugins are contracts linked to xGRAIL's contract, which can be created and integrated by anyone in the Camelot ecosystem. Original Plugins created by Camelot team like dividend system, yield booster, and launchpad.
Most of the income from the protocol is shared to users in the form of xGRAIL through the Dividend Plugin. Dividend sharing takes place continuously every week.
By using Yield Booster, users can use their xGRAIL to earn more profit by staking. The growth rate will vary depending on the staking position but will usually be x2 from the default value.
Plugins from the community: Anyone, regardless of users or protocols, can create or apply their own Plugins based on the xGRAIL allocation. However, they are subject to the general technical requirements of the protocol. If the Plugins are used from a third party, Camelot will not be responsible for any risk. Therefore, users need to be careful before accepting any new contracts to avoid taking risks.
Liquidity Mining, Core Contributor, Reserves, Development Fund, Advisor items are not locked and will be allocated within 3 years from TGE. However, Partnership tokens are locked for the first 6 months and amortized within 2 years.
Participating in farming on Camelot will be rewarded with xGRAIL tokens. After a minimum period of 15 days, users can exchange xGRAIL to GRAIL at a rate of 1/2, and within 6 months, the exchange rate will be 1/1. This helps to limit the appearance of GRAIL on the market.
xGRAIL is used for voting on the platform, and part of the transaction fees will be burned, purchased and burned GRAIL tokens.
The project team has not been officially announced, we will update you with more information.
Up to now, Camelot's partners include prominent names in the Arbitrum ecosystem such as: GMX, Umami, Jones Dao, Buffer Finance, Sperax, MIM_Spell, GMD Protocol, Nitro Cartel...
For now, Camelot has not announced the overall long-term strategy of the project, but has revealed plans for an initial period from November 22 to December 7.
Currently, the project is attracting great attention from the community. It can be said that this is an AMM DEX project that is capable of bringing liquidity to the Arbitrum ecosystem in the near future. We will continue to update the development of Camelot in the near future on the TraderH4 website, so please keep an eye on it.
In this article, we will learn about a project that is considered Hidden Gem on the Arbitrum ecosystem, which is PlutusDAO.
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