Liquidity providers deposit funds into Camelot and receive trading fees from traders (supply-side fees).

Camelot is a non-custodial exchange protocol built on Arbitrum. Camelot was founded by the pseudonymous Myrddin and launched in 2022.

GRAIL tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Exchanges (DEX)

Camelot

# Camelot Token incentives Methodology

## 1. Overview

Token incentives for Camelot measures the total value of GRAIL and xGRAIL tokens distributed as incentives to liquidity providers on the Camelot exchange. This metric captures rewards paid through two different mechanisms: v2 NFTPool harvest events and v3 distributor claim events, both occurring on the Arbitrum blockchain. The calculation aggregates daily token incentive amounts and converts them to USD to provide a comprehensive view of the platform's liquidity mining program value.

## 2. Data sources

The metric relies on these raw data sources:
- **Arbitrum blockchain event logs**: Parsed `HarvestPosition` events from Camelot v2 NFTPool contracts that track GRAIL token rewards claimed by liquidity providers
- **Arbitrum blockchain event logs**: Parsed `Claimed` events from Angle v1 Distributor contracts, filtered specifically for xGRAIL token claims
- **End-of-day token price feeds**: Historical USD prices for GRAIL and xGRAIL tokens used for currency conversion
- **Token metadata**: Decimal precision information for GRAIL and xGRAIL tokens to ensure accurate amount calculations

## 3. Step-by-step calculation

### Component A: Camelot v2 incentives extraction
- **Purpose**: Captures GRAIL token incentives distributed through Camelot v2 NFTPool harvest mechanisms
- **Logic**: Extracts `HarvestPosition` events from Camelot v2 NFTPool contracts on Arbitrum. Events are filtered and processed to capture when liquidity providers harvest their GRAIL token rewards. The `pending` field from these events represents the amount of GRAIL tokens being claimed as incentives
- **Key fields**: `block_timestamp` for timing, `address` as the recipient account, `pending` as the GRAIL token amount being harvested

### Component B: Angle v1 xGRAIL incentives extraction  
- **Purpose**: Captures xGRAIL token incentives distributed through the Angle v1 distributor system
- **Logic**: Extracts `Claimed` events from Angle v1 Distributor contracts on Arbitrum, specifically filtering for claims where the token address matches xGRAIL (`0x3caae25ee616f2c8e13c74da0813402eae3f496b`). The `amount` field represents the quantity of xGRAIL tokens being claimed as incentives
- **Key fields**: `block_timestamp` for timing, `address` as the recipient account, `amount` as the xGRAIL token quantity, `token` field used for filtering to xGRAIL address

### Component C: Data standardization and union
- **Purpose**: Combines both incentive sources into a unified data structure with consistent business classifications
- **Logic**: Both event sources are standardized with common schema including business line classification as "Exchange AMM", market sector as "exchanges", business segment as "dex", and chain as "arbitrum". Version mapping assigns "v2" to NFTPool events and "v3" to Distributor events. Token addresses are mapped to GRAIL (`0x3d9907f9a368ad0a51be60f7da3b97cf940982d8`) for both sources, with amounts cast to bignumeric precision
- **Key fields**: Standardized `chain`, `business_line`, `market_sector_id`, `business_segment_id`, `version`, and `token_address` fields across both sources

### Component D: Daily aggregation
- **Purpose**: Groups incentive events by day to create daily totals
- **Logic**: Block timestamps are truncated to daily boundaries using day-level truncation. All incentive amounts within each day are aggregated by chain, business classifications, and token address to produce daily total incentive values
- **Key fields**: `timestamp` truncated to day grain, aggregated `amount` values representing daily incentive totals

### Final aggregation
- **Combining components**: The standardized and unionized data from both v2 NFTPool harvests and v3 Distributor claims are combined into a single daily aggregation, with all amounts treated as token incentive values
- **Currency conversion**: Token amounts are converted to USD using end-of-day price feeds, with automatic decimal correction applied based on token metadata to ensure accurate USD valuations
- **Time aggregation**: Daily boundary logic uses timestamp truncation to day level, ensuring all events within a 24-hour period are grouped together
- **Final calculation**: The metric represents the total daily USD value of GRAIL and xGRAIL token incentives distributed to liquidity providers across both v2 and v3 systems, with schema validation applied and any missing days forward-filled with zero values to ensure complete time series coverage

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of native tokens distributed as incentives.

CamelotGRAIL

Token incentives

Token incentives

Competitive landscape

Chain breakdown