Camelot, an arbitrum-based decentralized exchange (DEX), is set to start rolling out its v2 upgrade on Saturday. As detailed in their Discord blog post, the upgrade will be released in three distinct phases. Starting with the first phase, which includes a beta-stage automated market maker (AMM) based on Algebra’s codebase, major changes and enhancements will be implemented on Camelot’s infrastructure, such as rebasing tokens like stETH and adjusting fees on pools.

The user-interface get an overhaul in the second stage and the final stage will bring forth the distribution of the non-transferable governance token xGRAIL. All contributions made before the first of December at 12am UTC will be eligible for a bonus of 25% in xGRAIL.

The native token of Camelot, GRAIL, has seen a increase of 3.7% within the past 24 hours, according to CoinGecko data, but its still trading at 23.4% less than it was last week. Currently, Camelot is the sixth largest protocol on Arbitrum and boasted over 107.2 million in total value locked across its network at the time of this report.

The v2 upgrade is expected to make trading on Camelot more efficient and user oriented. It also looks to improve on its liquidity offering in the future. The use of the xGRAIL token, combined with features like smart order routing and quicker liquidity exiting, will only make the DEX more appealing as we move onward into 2021.



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