Happy to support this proposal - the Camelot team has been nothing but exceptional for the arbitrum ecosystem and I echo the sentiment that the grants process wouldn’t have even come as fast as it has if it weren’t for their first attempt at appealing to the DAO. The Camelot team has always been generous and flexible with their incentive program and have been instrumental in acquiring team talents from other chains.
I noticed some flagged posts here for spam. I want to remind everyone there is a maximum politeness policy. Please keep all discussion constructive
The Camelot team provided a breakdown of where the grant would be allocated amongst Partner pools. You clearly did not look at the breakdown, but it proves that your comments are baseless. TROVE gets 0%, DSQ get 38bps, RDO gets 75bps. The bulk of the allocation goes to GMX, RDNT, MAGIC, DPX, etc. all pillars of Arbitrum DeFi. We suggest you actually look through the files. Thank you.
thanks for clarifying
give some of us a break tho, i’ve read 60 proposals today, im tired.
im happy with that allocation
Have publicly denounced Camelot in the past, don’t agree with their decisions, etc.
However I support this proposal, whether Camelot is efficient or not, or its launchpad projects are suffering or not, doesn’t really matter. What matters is that Camelot is still a household name for Arbitrum, and the dex that onboarded multiple protocols as they moved onto Arbitrum.
Despite my pessimism about Camelot’s ability to do so in a long-term manner, I believe that Camelot has provided sufficient value to the chain in the past. Additionally, it has plenty of potential to continue to do so, regardless of my personal beliefs.
Hello @Camelot thank you for your application! Your submission meets all requirements to be considered for a snapshot vote.
Pearl would like an answer to this question:
Very cool that my last two posts got removed
Here is the edit:
The ask for 3 million ARB for a DEX that is consistently underperforming other Arbitrum DEXs with lower TVL in the Volume / TVL efficiency metric is crazy to me. The Camelot team has acted in negative ways from teams I have associated with so I cannot respect them or the ask for ARB incentives. I hope the community comes up with a standardized ARB incentive for DEXs, a flat award for all projects, and lets competitions / efficiency win out.
Send it Camelot has a lot of support from prominent native builders and has fleshed out multiple successful innovations that allow protocols to customize their liquidity needs and rewards.
I think Ice’s xARB token distribution methodology would be a great potential future addition FWIW.
@Camelot Please note that funding will be streamed linearly. This means you will receive the same amount of funding every two weeks. If you would like to increase or decrease the incentives you distribute we recommend requesting the maximum amount you will need and then returning all ARB you do not use at the end of the program. An example of this can be seen below in Radiant’s application.
Please adjust your proposal to better fit the linear streaming process and please let me know if you have any questions regarding the topic.
I absolutely support this grant proposal for several compelling reasons, but most importantly because it holds great promise for making a positive impact on the arbitrum ecosystem.
I appreciate how it stands out as a meticulously crafted initiative that avoids tired, copied templates. Their distribution plan is well conceived, with a significant focus on the ecosystem, which is a very big plus. I disagree with some comments above. The amount requested is super reasonable, especially when compared to other projects like GMX, which is requesting 14m.
In terms of setup, IMO Camelot is a frontrunner. They have a cool set of tools and pairs on their DEX to incentivize the entire ecosystem, not just core pairs. Their implementations of V2 and V3, spNFTs, Nitro pools, along with the recently introduced market maker rewards system and CL automated vaults, make it an excellent place to distribute incentives. Also, worth noting that current TVL and trading volume already look robust and sustainable.
Maintained liquidity consistently, setting it apart from other dexes, unlike multiple 3.3 DEXes that reached 100m+ TVL only to disappear a few months later. I would say is already proven secure place to park liquidity, something that newcomers to the ecosystem will appreciate.
Camelot has already achieved the remarkable status of being the number 1 native DEX on Arbitrum and one of the top 3 dexes overall on the chain. With their consistent efforts and contributions to the ecosystem, approving this proposal should be a straightforward decision for delegates.
Camelot has pushed a lot of activity on Arbitrum, and become a role model of what a “Native Project” should be aiming for.
The grant request seems in line with what I would expect to be used for a native project, that has proven what innovative tokenomics, met with strong partners can do.
Boosted APYs on LP pools will allow money legos like Abracadabra to leverage up on this spurred activity.
Looking forward for voting this, it has my full support!
Overall one of the more detailed proposals, although i am still trying to work out if the amount is fully justified.
Similar to GMX, i think anyone being honest with themselves will admit the role Camelot has played in the ecosystem, even if there have been some flaws. Its merit is clear.
A spread of 1.87m min and 3.09m max is quite a big difference, i would be curious to know how the team is going to manage this?
EDIT because i read too fast, my mistake… i did not see they split Camelot v2 and v3
Standardize DEX rewards across all Arbitrum DEXs.
Let competition win out.
Let’s not have a Velodrome situation on Arbitrum (kills competition)
@lolno Just look at the comments above ~ your statement is incorrect. How can you claim that they are underperforming in every metric when they have remained the number one native DEX on Arbitrum for many months now? Surely, there must be a reason for their success…
No disrespect but your response doesn’t come across as very convincing. So when you mention that the Camelot team has acted negatively toward teams you are allegedly associated with, I believe you may be lying for some undisclosed reason. If you scroll up, you’ll find complementary comments from reputable individuals in the space that contradict your statement. And if they were truly difficult to work with, how did they manage to forge so many partnerships and attract numerous new teams to the ecosystem? If that were the case, they wouldn’t hold the position of the number 1 protocol on Arbitrum when it comes to onboarding projects from other chains and fresh aspiring teams.
Are you trying to say that every DEX that applied for the grant should receive the same amount, regardless of their size and contributions to Arbitrum? I’m not sure if you realize this, but at this point, several DEXes have applied for STIP, and the idea that every one of them should receive an equal amount of ARB doesn’t make sense.
Camelot has consistently delivered substantial value to Arbitrum since day one, and ever since it became the number 1 native DEX on the chain, it has maintained that position. No other native DEX comes close to them. A few DEXes come to mind, like Zyber, Chronos, and Solidlizard, that tried to dethrone them and had a good go at it but look where they are now compared to Camelot.
Camelot has proven that they have everything it takes to become the flagship DEX of the ecosystem. Quite frankly, for the native flagship DEX of the chain, 3m ARB out of a 50m pot is hardly anything when you consider their accomplishments, sustainability, and all the contributions they’ve made to the ecosystem.
It’s not like they are asking for a ridiculous amount sucked out of the finger, many already agreed that this is a very reasonable request considering all the aspects related to Camelot. In fact, I saw many people all over the discord servers saying that Camelot should have asked for more, and to be quite honest with you I wouldn’t blame them if they did.
As far as I know, Velodrome was heavily incentivized pretty much right from the moment they launched. In contrast, Camelot never received any grants, they built their reputation and protocol position through pure grind. This certainly isn’t a fair comparison when you evaluate OP and Velodrome against Camelot and Arbitrum. The game was fair right from the start on Arbitrum and every DEX participating in the ecosystem had the same fair chance to prove their worth.
Im not going to repost what I said. My posts have been remove three times already.
Camelot falls behind in the Volume / TVL metrics.
3 million ARB? No thanks
you already admitted you have a personal grudge against Camelot, don’t try to pretend it’s about metrics now. you’re free to have your opinion but it seems obvious from the comments here that most builders and community members disagree, both about the platform and about the team.
As the biggest native DEX on Arbitrum, The Magpie Ecosystem acknowledges the role of Camelot DEX. Our collaborations with Camelot include initiatives like the PNP token IDO and the upcoming integration with Campie. With the support of the STIP, Camelot has the potential to enhance community growth and engagement within Arbitrum. The Magpie Ecosystem stands behind their long-term objectives and we seek to amplify their ecosystem.