Try Quests to earn cryptoCamelot Exchange & $GRAIL Token Dashboard
An overview of Camelot Decentralized Exchange and its native token
What is Camelot?
Camelot is an ecosystem-focused and community-driven DEX built on Arbitrum.
Camelot has been built as a highly efficient and customizable protocol, allowing both builders and users to leverage our custom infrastructure for deep, sustainable, and adaptable liquidity. Camelot moves beyond the traditional design of DEXs to focus on offering a tailored approach that prioritizes composability. Camelot is based on a dual AMM able to support both volatile (UniV2) and stable (Curve-like) swaps.
Camelot Objectives:
- To provide the Arbitrum ecosystem with a wide range of innovative features, enabling them to have an extremely high degree of flexibility and control over their own liquidity
- To support new protocols launching on Arbitrum, providing the tools that enable them to launch, bootstrap liquidity, and sustain their growth
- To make available to all permissionless tools allowing projects of all sizes to leverage our protocol in whatever way suits their needs
- To deliver state-of-the-art functionality that can be easily integrated, built upon, and leveraged by other protocols within the ecosystem
- To apply the real yield narrative to a DEX and liquidity providing - creating innovative emissions strategies that leverage more sustainable tokenomics, aligning incentives with builders, users, and the protocol
- To be as decentralized as possible, allowing the community to drive the protocol forward as a DAO, whilst enabling the core team to sustainably build the protocol
$GRAIL Token:
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. Arbitrum’s top decentralized finance (DeFi) exchange, GMX, uses a similar dual token model.
Camelot 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.
GRAIL is Camelot's native token. Coinciding with the official launch of Camelot Exchange was the public sale of the Camelon Token (GRAIL). The token was designed to increase project awareness and secure financial reserves to develop the project further. the GRAIL token has a maximum supply of 100,000, making it relatively scarce. In addition, it is a token users can earn as yield rewards through incentivized staking positions. A fair portion of that supply remains committed to liquidity mining for the coming years, along with a sum set aside to Core Contributors with three-year linear vesting.
Unlike other DEXes, Camelot Exchange was not part of a presale or VC investment. The public sale ran from November 29 to December 5, with the token launch on December 6.
xGRAIL is a non-transferable escrowed governance token, corresponding to staked GRAIL. It can be earned from yield-generating staking positions (spNFTs), or through direct GRAIL conversion.
The central use case for xGRAIL is the ability to allocate it to Plugins. The operation consists of staking xGRAIL into the token contract and assign the deposited amount to a plugin in exchange for various benefits.
According to the above charts, the high peak of activity within Camelot exchange has started since February 2023. Before this date, we see a very low activity within this DEX over time but after February 2023 and at the same time when the launch of several Arbitrum-based tokens such as FCTR, TROVE, etc has begun, we can see increasing activity in this protocol over time. The highest number of swaps in Camelot exchange was achieved on Feb 21, 2023 (more than 10,6k swap transactions) while the most swappers were active in Camelot during the day Feb 23, 2023 (5363 unique active swappers). This day is also the day with the highest volume of swaps in the Camelot exchange. One of the main reasons behind the increasing swap activities after Feb 20, 2023, can be the launch of the $FCTR (Factor DAO) token in Camelot that has attracted the attention of many users (including myself!) to pre-buy this token from Camelot.
Totally, (based on the Cumulative trends) we can see there are 38k registered swappers in the Camelot exchange (the majority of them have registered during the 3rd week of February 2023), these users have done a total number of 96.43k swaps in Camelot with total volume of $601M.
According to the above charts, the majority of swaps within Camelot exchange are done with $100 - $1000 volume followed by 27% of swaps with less than $10 volume. Only about 5% of swaps in Camelot exchange are done with more than $10,000 volume which shows the low activity of “Whales” in this protocol.
Also, we can see there are an average number of 897 daily swap transactions, 546 daily active swappers and $5.42M daily swap done on Camelot exchange.
According to the left charts, in terms of number of swaps, WETH/USDC (the most popular swap pair in the majority of decentralized exchanges) is by the most popular swap pair in Camelot followed by WETH/GRAIL on the second rank.
But in terms of volume, we can see GRAIL/USDC swap pair is by far the most popular swap pair in Camelot exchange which is good news for this exchange and its native token, $GRAIL.
According to the left charts, the majority of Camelot swappers have only done 1 swaps within this protocol (including me!), followed by users who have done 2-5 swap transactions.
On the other hand, the majority of swappers have done less than $10 volume of swaps using Camelot DEX, followed by users who have done $100 - $1000 volume of swaps within this protocol. There are almost 5% of users with more than $10,000 volume of swaps in Camelot exchange which shows the low share of “Whales” in this DEX.
On the above charts, we can see the top active swappers in Camelot Exchange and also the swappers with the most total volume of swaps within this DEX. The difference between top ranked swappers vs other traders is big especially in terms of number of swaps (left chart).
Part 1: Camelot Swap Program
Genesis 15% to the Public Sale distributed upfront (5% xGRAIL & 10% GRAIL) 10% to Protocol Owned Liquidity (7.5% used for initial liquidity, pre-minted in a multisig) 5% to the Genesis Nitro Pools distributed over 6 months as xGRAIL GRAIL 22.5% to Liquidity Mining over the next 3 years 20% to the Core Contributors vested linearly over 3 years 10% to Partnerships (6-months cliff and 2 years vesting) 8% to Reserves (pre-minted in a multisig) 5% to Ecosystem 2.5% to the Development Fund vested linearly over 3 years 2% to Advisors vested linearly over 3 years
According to these data, there are total 6.76k unique users who are holding $GRAIL Token in their Arbitrum wallet. the average balance of these users is 8.87 $GRAIl while the median balance of holders is 0.0000195053696 $GRAIL. The huge difference between the average & the median held amount by holders can be because some wallets are holding a large amount of $GRAIL while the other users are holding a very lower amount.
As we see in the pie-chart, the majority of $GRAIL holders (more than 60% of them) are currently holding only less than 0.0001 $GRAIL in their wallet (Since the $GRAIL token’s price is currently more than $ETH and there are not many users who can afford (or risk to) buying this token).
On the left chart, we can see the top 20 $GRAIL holders. As we see, the majority of these top wallets belong to the Camelot platform itself and we can see this is the main reason behind the big difference between average and median balance of holders.
On the left chart, we can see the top destinations of $GRAIL transactions (by count & volume) within Arbitrum chain.
As we see, the Camelot Swap Program (DEX) is by far the most popular destination of $GRAIL users in Arbitrum. (Previously, we have seen that $GRAIL is one of the top 3 popular tokens in Camelot exchange, So, here is the reason behind that!)
Also, we can see the majority of these destinations belong to the Camelot program itself (such as Staking (xGRAIL token), NFT positions & etc.)
There are also some other famous protocols such as 1inch, Uniswap & OpenOcean (decentralized exchanges) among the top popular destinations of $GRAIL transactions.
According to the above charts, the activity of $GRAIL transactions and also its users in Arbitrum chain is increasing more and more over time. (Similar to the Camelot exchange activity).
Also, since the price of $GRAIL has grown signficaintly during the recent months, the $GRAIL volume of swaps within Arbitrum chain has decreased over time but we can see some high activities that have started since February 2023 (the same time when the main activity of Camelot has begun).
According to the above data , Currently, there are 41 swap pairs available in Camelot exchange app. On the right table, you can see their full list as well as symbol & contract address of pool tokens.
According to the left charts, almost 2300 unique wallets have participated in $GRAIL token presale and the total claimed volume by these participators is 9718 $GRAIL.
The highest peak of $GRAIL claim activity was during the first days of its official launch and we can barely see any claim activity in the next days.
Since the top destination of $GRAIL token was Camelot Swap Program, On the left chart, I have analysed the sell (Swap from) and purchase (Swap To) activity of $GRAIL token within Camelot exchange over time.
As we see, in the majority of days, the buy pressure of this token is way more than its sell pressure meaning that there are more users (with higher volume) swapping OUT $GRAIL token compared to the users who are swapping IN $GRAIL.
Also, the highest peak of $GRAIL swapping was achieved during its first days of launch and also February 2023.
Conclusion
Camelot is one of the leading exchanges in the Arbitrum chain. This exchange has seen huge growth since launching at the end of 2022. Daily trading volume has jumped by more than 500% since the first day of February. So, too, has the price of Camelot’s native token, GRAIL. It’s up 520% in the same time frame. recently fetching $2,833.47, According to the above analysis, the number & volume of users and transactions on Camelot has grown significantly during the past weeks and is even increasing more and more as time goes on. One of the main reasons behind The surge in users and transaction volume in Camelot corresponds with the launch of new Arbitrum-based tokens in this exchange. Also, Camelot’s recent strides coincide with similar progress for Arbitrum, the biggest Ethereum layer 2 scaling system (the fourth-largest blockchain overall in terms of total value locked (TVL), with more transaction volume than even Ethereum’s main network.)
The current price of $GRAIL token is $2,078. Don't be surprised if it reaches the same price of Bitcoin (BTC) in the future! Due to the extremely low supply, if the market grows, with a market cap of 2 billion Its price can easily reach more than $200,000! This token is also among the 3 most popular tokens in its native platform, Camelot DEX. Token’s activity within Arbitrum chain and also the number of token users is increasing over time which shows the increasing popularity of $GRAIL. Also, this token is recently listed on several centralized exchanges such as Kucoin, Huobi, MEXC, BKEX & etc.
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External Sources:
Overall Stats
Top Swap Pairs
Swappers
Holders
$GRAIL Usage in Arbitrum Chain
$GRAIL Pre-(Public) Sale
Camelot has been designed to be a community-driven protocol, and therefore a significant factor in achieving that is the launch of the GRAIL token. As a team, we have remained committed to building the best product possible before seeking funding, and therefore we are proud to confirm that there has been NO PRESALE or VC investment.
With this in mind, the public sale provides a significantly transparent and fair opportunity for the community, investors, and partners, to purchase GRAIL.
The public sale began on Nov 29th and lasted until Dec 5th, with GRAIL liquidity was going live within 24hrs of the sale ending (5 pm UTC for each stage)
- Nov 29th: Public sale start
- Dec 5th: Public sale end
- Dec 6th: Token launch and farms open
- Dec 7th: Farming rewards start
Sale Terms
- The public sale will offer 15% of the GRAIL supply, with 10% in GRAIL and 5% in xGRAIL (15,000 out of 100,000 tokens of the total supply)
- All purchases will settle at the same price based on the total amount deposited
- Any unsold tokens will be burned
No matter when and how much a user's contribution has been, he will receive an amount of $GRAIL worth the same value as his investment.
The price of $GRAIL token has increased significantly (by more than 15x) since its launch on December 2022.
We can see that the price of $GRAIl token has a quite positive correlation with the volume of swaps within this DEX.
The current price of $GRAIL is $2180. I won’t be surprised if it reaches the same price as Bitcoin (BTC) in the future! Due to the extremely low supply, if the market grows, with a market cap of 2 billion, I think Its price can easily reach more than $200,000. (NFA) Also, this token is recently listed on several centralized exchanges such as Kucoin, Huobi, MEXC, BKEX & etc.
Part 2: $GRAIL Token
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 its documents. Arbitrum’s top decentralized finance (DeFi) exchange, GMX, uses a similar dual token model.
Camelot 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.
Background & Dashboard Introduction
Camelot has seen huge growth since launching at the end of 2022. Daily trading volume, the number of transactions & active traders has increased significantly since the first day of February. So, too, has the price of Camelot’s native token, GRAIL. The surge in users and transaction volume in Camelot corresponds with the launch of new Arbitrum-based tokens in this exchange.
On the occasion of this massive recent hype on the Camelot exchange, I am going to perform a deep analysis of this exchange & also its native token, $GRAIL, within the Arbitrum chain. So, this dashboard has 2 parts:
1- Camelot Swap Program Analysis
2- $GRAIL Token Analysis
Methodology
The main table that I have used for this bounty is arbitrum.core.fact_event_logs. For this analysis, I have mainly analyzed 2 Camelot contracts:
1- Pair Factory (0x6EcCab422D763aC031210895C81787E87B43A652): in order to track swap-pair creation in Camelot exchange. (using event_inputs column, we can extract the swap pair address (pair), swapped in token (token0) and swapped out token (token1).
2- Swap Router (0xc873fEcbd354f5A56E00E710B90EF4201db2448d): in order to analyze the swapping activity within Camelot exchange.
Token swaps in Camelot are done via 2 functions:
1- swapExactTokensForTokensSupportingFeeOnTransferTokens (0xac3893ba) | for ETH swaps.
2- swapExactETHForTokensSupportingFeeOnTransferTokens (0xb4822be3) | for other tokens swaps.
With filtering the event_name column of the arbitrum.core.fact_event_logs table to “Transfer” and when origin_from_address (swapper address) is equal to event_inputs:to, we can extract the contract address of Swapped OUT token from contract_address column and when the even_inputs:from is equal to origin_from_address, we can extract the contract address of Swapped IN token from contract_address column. for ETH swaps (first function), when the event_inputs:from is null address (0x0000000000000000000000000000000000000000) the contract_address is the address of Swapped IN token.
Also, I have used arbitrum.core.dim_contracts table in order to extract the Symbol & Decimals of swapped tokens in Camelot but since some tokens were not available in this table, I have manually searched the contract address of unavailable tokens in Arbiscan in order to extract their data.
Since there is no Price table in Arbitrum.Core tables, I have extracted the USD value of Camelot tokens by their swapped amount in exchange for stablecoins such as USDC, DAI & USDs in the Camelot exchange.
$GRAIL Token Contract Address = ‘0x3d9907f9a368ad0a51be60f7da3b97cf940982d8’ (Decimals = 18)
$GRAIN Token Presale Contract = ‘0x66ec1ee6c3ad04d7629ce4a6d5d19ba99c365d29’
On the left chart, we can see the activity of Camelot exchange in Weekdays.
As we see, Thursdays ($VOLUME) and Tuesdays (active swappers and swaps count) are the 2 most popular weekdays among Camelot exchange traders.