Arbitrum Native Decentralized Exchange Camelot Growing Massively in February

Camelot, a relatively new decentralized exchange on the Arbitrum network, has seen huge growth since launching at the end of 2022. Daily trading volume has jumped 369% since the first day of February, hitting $18 million on Friday. reports

Camelot’s recent strides coincide with similar progress for Arbitrum, the biggest. It’s also the fourth-largest blockchain overall in terms of total value locked , with more transaction volume than even Ethereum’s main network.

Camelot’s tokenomics includes two tokens – GRAIL and a nontransferable governance token called xGRAIL – to create a balance between incentivizing users to grow liquidity on the protocol and enhancing the long-term health of Camelot’s ecosystem, according to itsCamelot redistributes its swap fee earnings to xGRAIL token holders and uses the earnings to buy and burn GRAIL from the open market to maintain constant buying pressure for the DEX’s native token.

Camelot’s TVL, a popular statistic measuring the overall value of crypto assets deposited into the protocol, is on a tear, core contributors said on a Feb 16 community call. The Arbitrum native DEX’s TVL has jumped 276% to $62.71 million in the month of February, according toArbitrum doesn’t yet have a dominant DEX, according to Walter Teng, vice president of digital asset strategy at Fundstrat Global Advisors.

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