Fostering liquidity on Arbitrum using Demeter on Camelot
TLDR of AMA on Sperax Twitter Spaces - April 26, 2023
Speakers:
Low-Poly Duck/Saddle (host), Subh/Sperax, Sir IronBoots/Camelot, BigK/Plutus, Train/L2DAO, Max Ermilov/USD+, Waffle/Lodestar
Sperax USD is a stablecoin and a yield automation protocol. Sperax DAO created a Demeter launcher that allows anyone to launch farms on top of Uniswap v3 without any coding experience. Demeter is planned to be integrated with Camelot very soon. An add-on product is a gauges-and-bribes mechanism incorporated into the protocol. Any Demeter farm which is launched and paired against USDs or SPA can be added to the Sperax gauge and become eligible to receive SPA emissions based on the voting from the veSPA holders. Sperax is hoping to become the primary liquidity distributor in the Arbitrum ecosystem.
The Sperax-Camelot integration is coming. Any token on any chain needs liquidity and Camelot is an Arbitrum-native DEX that prioritizes the builders who need to have long-term liquidity over mercenary, short-term capital.
Camelot is not just one more DEX integrated with Demeter in addition to UniV3. This will be a special integration because it's not like any other ERC20 LP token. The integration of Demeter with Camelot v3 (atm in beta stage) is coming soon.
Sperax has a framework in place, which allows any new protocols to launch their Demeter farms having their tokens paired against USDs or SPA - on top of their Camelot pools. These farms can be seamlessly connected to Sperax Gauge.
The partner protocols could encourage veSPA holders to direct SPA emissions to their farms - this will reduce sell pressure on their native token. Based on the current prices for every $1 bribe, a partner protocol could expect ~$4 worth of SPA emissions at this point on top of regular xGrail rewards. All the steps like adding liquidity, staking, claiming, APR, and emissions tracking will be available on Sperax UI.
PlutusDAO was successfully bribing the Demeter Farms on Uniswap V3. Plutus has recently moved liquidity to Camelot from SushiSwap and it is looking forward to the Demeter Camelot launch. Overnight Finance, L2DAO, and Lodestar plan to create farms paired with USDs on Demeter/Camelot and connect the farms to the Gauge.
Sperax invites all the protocols that plan to build their long-term liquidity on Arbitrum to join Demeter on Camelot.