Camelot has published an official blog to announce the addition of Tarot Protocol to the Round Table consisting of key Arbitrum builders. The aim is to build sustainable liquidity for its native token, $TAROT, on Arbitrum for further innovation and opportunities.
The first farm goes live on January 06, 2023, at 6 pm UTC. Users will be able to swap and provide liquidity from the opening window.
The partnership between Tarot Protocol and Camelot is expected to go a long way purely because it does not have DEX liquidity for its token despite having several pools live on the network. Camelot, through this partnership, looks to provide farming incentives to the pool of TAROT/USDC and support the liquidity with custom-built features.
Tarot is also working to integrate custom spNFTs by Camelot to open up the opportunity for capital efficiency gains based on how many users borrow, lend, and leverage their Camelot positions. It is sure to work in the partnership because it perfectly aligns with the ecosystem to innovate, collaborate, and build.
Camelot is based on the vision of building innovative enough infrastructure to support others looking to bring uniqueness to the ecosystem. Several unique custom features have been drawn to ensure that the set goal is achieved.
For instance, a unique AMM implementation will support assets that are stable and volatile. The fees have been determined to be dynamic, set according to the pool and direction to buy-sell. LPs to have a scope of being reused by leveraging a customer NFT wrapper for a staked position. This will enable the ecosystem to add more capital efficiency gains. Liquidity will be up for the purpose of incentive once Nitro pools are utilized to the best of their advantage. This will be ideal for liquidity that is based on customer requirements and is permissionless.
The goal of highlighting the unique customer features is to give an idea of what Camelot has in store to establish a deep and adaptable liquidity.
Through this partnership and future developments, Camelot will be able to set custom fees for $TAROT pools with space left to add even more customer requirements for Nitro pools. Camelot has its eyes set on the prime target of enabling further innovation within the Arbitrum ecosystem.
A recent achievement boosts the motivation of the team behind Camelot, a custom-built protocol. The team was able to set the initial foundations for Camelot to become the native DEX on Arbitrum. The Round Table already consists of Jones, GMX, GMD, Umami, Sperax, Buffer, and Nitro Cartel.
A total of $15 million TVL has been bootstrapped so far in association with all the partners. It was also able to launch a $GRAIL token to raise over $3.8 million for a final valuation of $25 million FDV. Credit for the same goes to the community for availing the chance to get on board.
However, now as the foundation has been set, it is time to look forward to new innovations that await to come in the coming weeks.
Source: https://www.cryptonewsz.com/tarot-protocol-becomes-a-part-of-the-round-table-by-camelot/