📖 INTRO
Camelot, a decentralized exchange on the Arbitrum network, has experienced significant growth in a short period of time since its launch. The data shows that the volume of daily transactions of this exchange has increased by 369% compared to the first day of February.
According to CoinDesk, in addition to the growth in the number of transactions and users, the price of GRAIL, the native token of the Camelot exchange, has increased by about 520% in February. Also, Nansen's analytical company announced in a report that the number of Camelot users and transactions experienced a significant growth in February.
The increase in the number of users and trading volume of the Camelot exchange this week is due to the release of TROVE, the governance token of the Arbitrove protocol. The public sale of TROVE tokens started on Friday, February 17 on the Camelot decentralized exchange and end Monday, February 20 at 9:00 am EST.
🎯 GOAL
The purpose of creating this dashboard is to review Camelot Dex from the beginning of 2023. We intend to see how the transactions and users of this decentralized exchange have grown since the beginning of the year and how the swap transactions are in this DEX.
In this dashboard, we will review the activity of this dex in terms of swapping stablecoins of the Arbitrum network and the native token of this dex, Grail. We will also take a look at the new swappers of this dex from the beginning of 2023, and we will take a look at the status of the Trove token swap in this dex.
🔧 METHOD
To check the Camelot platform, we used the contract of this exchange in the arbitrum.core.fact_event_logs
table as ORIGIN_TO_ADDRESS
. The contract of this platform is 0xc873fecbd354f5a56e00e710b90ef4201db2448d
. By extracting swap transactions from the arbitrum.core.fact_event_logs
table by Swap
Event Name and joining with the arbitrum.core.fact_token_transfers
table, we called the tokens exchanged in this exchange and using the arbitrum.core.dim_contracts
table, We calculated the decimals of the exchange tokens and called the statistics related to these assets using the stablecoin address contract, Grail token and Trove token.
👓Insights
As we can see, since the beginning of February, the number of executed transactions and the number of active users in Camelot Dex is increasing. The largest number of users of this platform is on February 21 with more than 9,000 users. The number of transactions executed in this DEX has reached more than 27,000 transactions on February 22.
Since the beginning of February, more than 248,000 transactions have been executed on this DEX, which was done by more than 112,000 users.
As we can see, most of the transactions executed on this platform are swap transactions, and about 230,000 transactions are related to swaps, and about 105,000 transactions have been performed by the swappers of this platform.
The number of new Camelot platform users has grown significantly since the beginning of the year. As we can see, more than 50,000 new users have joined this platform since the beginning of the year.
The largest number of new users joined the platform on February 21, exactly one day after the TROV Token Public Sale ended.
👓Insights
In the daily chart, we see a significant increase in the amount of input and output of stablecoins from the Arbitrum network to the camelot platform. The highest volume of input was on February 21, one day after the completion of the public sale of Trove tokens. February 14 had the highest volume of output. Of course, the volume of output on February 21 should not be ignored.
USDC Stablecoin has the largest volume of input and output, followed by USDT Stablecoin.
👓Insights
The increasing trend of swappers who exchange stablecoins in camelot Dex can be seen. The largest number of swappers exchanging stablecoins can be seen between February 20 and 22.
The largest number of swappers have had two stablecoins, USDC and USDT. Of course, the distance between USDC and USDT swappers is very large, and about 19,000 swappers have exchanged this asset on the camelot platform.
👓Insights
The growth of the Grail Token swap can be seen in the daily charts in terms of swap volume and the number of swappers. The increasing trend of the volume and number of swappers of this token is more impressive since the beginning of February.
As we can see, since the beginning of the year, about 50,000 units of this token have been purchased by users, and this amount is about 1,000 tokens more than the sales volume.
Since the beginning of the year, the number of buyers of this token has been about 2 times the number of its sellers on the Camelot platform.
👓Insights
As we can see, the sales data of this token is more on camelot platform. It seems that the buyers of Trove tokens have sold their tokens on camelot platform after the end of the public sale. Of course, the buyers of this token should not be ignored, as we can see that one day after the end of the public sale, the volume of swaps and the number of swappers of this token have reached a high level. More than 90 million units of this token were sold and more than 70 million units of this token were bought on February 21.
🔑Conclusion
With its significant growth since the beginning of 2023, the camelot decentralized exchange has shown that it can be a tough competitor for the GMX decentralized exchange, yet no exchange has been able to dominate the Arbitrum ecosystem (like Velodrome in the Optimism ecosystem). But it is not out of mind that camelot decentralized exchange can become the number 1 DEX in the Arbitrum network with this growing trend.