Arbitrum DeFi continues to mature with Campie’s Phase 1 Mainnet deployment, marking the beginning of Magpie’s Meta-Governance layer on Camelot.
We are pleased to share that holders of GRAIL from Camelot DEX are now able to stake their assets on Campie as mGRAIL. This functionality allows them to generate income from the Dividends Plugin on Camelot via Campie’s xGRAIL allocation, without any required lockup period. The fundamental mechanism of Campie’s services involves the strategic gathering and lockup of GRAIL tokens as xGRAIL within Camelot DEX. Presently, Campie has amassed 1,796 xGRAIL, accounting for over 7% of the total xGRAIL, making it the top holder in the DeFi space.
Here’s an overview of what users can do on Campie:
mGRAIL Claim
Participants in the GRAIL RUSH who have converted their GRAIL into mGRAIL can retrieve their mGRAIL through the “Claim” page on Campie. Users will be able to claim their mGRAIL based on their participation in GRAIL RUSH events. After claiming mGRAIL, users have the option to deposit their mGRAIL into the mGRAIL Staking Pool. This enables participants to receive a share of the revenue generated by Campie, which is generated by allocating xGRAIL in the Dividends Plugin.
mGRAIL Staking
mGRAIL holders now have the opportunity to earn passive income derived from Campie’s xGRAIL holdings. To start receiving rewards, they must deposit their assets into Campie’s mGRAIL Staking Pool. The mGRAIL Staking Pool will distribute 100% of the revenue generated from xGRAIL that Campie allocates in the “Dividends” Plugin.
Convert GRAIL
GRAIL holders from Camelot can convert their tokens into mGRAIL at a 1:1 ratio through Campie, allowing them to earn passive income without any lock-up period required.
The deployment of Campie’s Phase 1 Mainnet marks a significant step in the progress of Camelot DEX, the Magpie Ecosystem and Arbitrum. Campie is committed to supporting Camelot’s long-term growth by offering participants both cost-effective and efficient opportunities.
With almost 1,800 xGRAIL secured, Campie has become the leading choice for GRAIL holders looking to increase their flexibility. The security and safety of our users’ funds are our top priority. This development represents Campie’s initial rollout on Arbitrum’s Mainnet, and we are excited about the upcoming addition of the Yield Boosting Plugin, which is designed to provide improved yields for Camelot liquidity providers without requiring them to hold any xGRAIL through our platform. Thank you for your support; stay tuned for more updates.
About Campie: Campie is a groundbreaking SubDAO, created by Magpie, that is dedicated to supporting the long-term development of Camelot Exchange. Built under the principles of Camelot’s design, it amplifies the platform’s central functionalities. The primary focus of Campie is to lock GRAIL tokens as xGRAIL, which provides access to numerous benefits within the Camelot Ecosystem. Thanks to this approach, the platform is able to offer enhanced passive income for liquidity providers, cost-effective governance power for Camelot voters, and the opportunity for GRAIL holders to earn passive income without any mandatory lock-up period.
