Camelot, a decentralized exchange (DEX) built on the Arbitrum network, is seeing significant growth as the anticipation for the upcoming ARB token airdrop on March 24th continues to increase.
As of Sunday, Camelot’s total value locked (TVL) has surpassed $100 million, a 50% increase from the previous week. This growth is supported by the surge in trading volume, which reached an all-time high of $47 million on Saturday. Camelot’s native token, GRAIL, has also seen a price increase of 134% over the past seven days, according to CoinGecko data.
As the date for the Arbitrum token airdrop draws near, Camelot’s growth has been fueled by the expectation that the ARB token will be listed on the DEX, allowing users to trade or deposit it in Camelot’s liquidity pools.
Nansen data shows that Camelot’s number of users and transactions have increased by 19% and 42%, respectively, over the past seven days.
Wrapped ether (wETH), USD coin (USDC), and GRAIL are the three most liquid tokens on Camelot, accounting for 64% of TVL, according to data from Camelot’s analytics page.
With the continued growth of Camelot and the upcoming ARB token airdrop, it will be interesting to see how the decentralized exchange ecosystem evolves on the Arbitrum network.
