Start using Camelot
In this tutorial, we will guide you through the process of swapping and farming on Camelot
If you would like to learn more about the Camelot and the detailed explanations of all its features, we encourage you to visit the documentation, guides, and FAQ
The following guide uses VELA as an example, but the principles are the same for other assets as well
How to swap on Camelot?
Go to the ‘’Trade -> Swap’’ tab
2. Select ‘’Token that you want to swap for Vela’’
3. Click on swap and confirm the transaction in your wallet (if you are transacting a token for the first time, your wallet will ask you to approve it first)
How does farming work on Camelot?
By creating a staked position, you automatically earn LP swap fees and farm incentives, which can be boosted with locks and xGRAIL’s yield booster
The staked position can be deposited into the Nitro pool to earn additional rewards
As a result, your position would earn swap fees + farming incentives (which can be boosted) + Nitro rewards
Consequently, there is no need to deposit the position in a yield farm, only participation in the nitro pool requires depositing
A brief overview of Camelot's farming emissions
GRAIL is Camelot's native token and xGRAIL is a non-transferable illiquid token, corresponding to staked GRAIL. The xGRAIL value is directly correlated to the GRAIL value. One xGRAIL equals one GRAIL
The majority of farming emissions are in xGRAIL which requires redeeming in order to be traded. In the following guide, you can learn more about how redemption works
The farm incentives provide an 80%/20% GRAIL ratio, while in this case, the nitro pool provides VELA incentives
It is best to check incentives on the Nitro pool page since they may vary based on the pair
How to create a staked position on Camelot?
Go to the ‘’Trade -> Liquidity’’ tab
2. Check that "Position" is selected
3. Select VELA and ETH and approve/initialize
4. Choose the lock duration
5. Click create a position
6. Confirm the transaction once the wallet window appears
How to deposit position into a nitro pool?
Upon creating a staked position, go to the '’Earn -> Nitro pools’’ tab
2. Select the VELA-ETH pool, or click on the ‘'Matching Nitros'’ button on your VELA-ETH position management panel
3. Look for the deposit button next to compatible positions on the Nitro pool dashboard
How to boost farming emissions existing APR?
The staked positions farming incentives can be boosted through time locking or yield booster. The boosts are based on multipliers, the max total multiplier that can be achieved is 3x
LP trading fees and nitro pool rewards won't be affected by either of the boosts, only existing farming incentives APR will be increased
What is the impact of multipliers on farming incentives?
2x Multiplier = 100% Boost
3x Multiplier = 200% Boost
Time locking
It's possible to specify a lock duration when creating a position or lock it directly in the position management panel after the position was already created
By setting a six-month lock, the maximum boost from time locking can be achieved, but any number of days can be set
Max lock multiplier 2x
In order to open the position management panel and lock an already created position: Go to ‘’Earn -> My positions tab -> Select position’’
Yield Booster
Through the Yield Booster plugin, you can allocate xGRAIL to a staked position in order to increase existing APR yield earned from farming incentives
As more users allocate xGRAIL to a pair, the APR will be lower for the amount you allocated. The process works in both directions.
Max boost multiplier x2
How does yield booster work?
(The rates are fictional and are only intended to serve as an example)
Squire staked position is currently earning 50% APR from VELA-ETH farming incentives
Squire allocated 1 xGRAIL through yield booster to the staked position, which boosted his position's bonus multiplier to 1.5
Squire position is now earning 75% APR from farming emissions
More knights allocated xGRAIL to the VELA-ETH pair, effectively reducing the squire position bonus multiplier to 1.25
Now the staked position is earning 62.5% APR from farming emissions
More knights de-allocated xGRAIL from the VELA-ETH pair, effectively increasing the squire position bonus multiplier to 1.5
Now the staked position is earning 75% APR from farming emissions
An overview of the yield booster modal:
How to earn a real yield on Camelot?
xGRAIL can be allocated to the dividends plugin to earn a share of the protocol earnings in real yield, primarily in ETH-USDC LP and xGRAIL chunks. The following guide provides a more in-depth look at it
If you have any questions, please do not hesitate to ask them in the official Camelot discord or telegram
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