Camelot, an Arbitrum native decentralized exchange (DEX), has seen its total value locked (TVL) up more than 50% over the past week, crossing $100 million yesterday. The surge comes as users are gearing up for Arbitrum’s token airdrop, which is set to happen on March 23.
Data from TVL aggregator DefiLlama also showed Camelot’s 24-hour trading volume topped $47 million two days ago, an all-time high for the 10th largest entity on Arbitrum this week (based on number of users), according to blockchain analytics firm Nansen.
Camelot’s growth comes amid massive interest in Arbitrum’s ARB airdrop coming on Thursday. Camelot is a DEX built on Arbitrum, and users in the Camelot ecosystem are expecting ARB, once airdropped, to be listed on the DEX, which would mean ARB can be traded or deposited in Camelot’s liquidity pools.
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