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Camelot V2 Review 2026: Arbitrum DEX and Orbit Hub

Camelot V2 is an Arbitrum-native DEX that now presents itself as a liquidity hub for Orbit chains. It has about 4.27 million USD in TVL, so check pool depth before trading size.

By the DappsAtlas editorial team · Updated Nov 4, 2026

DappsAtlas score

6.8/10

Good

Visit Camelot V2

Our verdict on Camelot V2

6.8/10

Camelot V2 suits users already on Arbitrum or its Orbit chains who want a native DEX with its own token and a customizable design. Its main strength is a long track record and a clear ecosystem focus. The caveat is modest TVL of about 4.27 million USD, plus unpublished fee and token details, so check pool depth, fees and GRAIL incentives before committing capital.

Score breakdown

How Camelot V2 scores

Security: 6.5/10
Ease of use: 7.0/10
Fees: n/a
Features: 7.0/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is Camelot V2?

Camelot V2 is a decentralized exchange that started on Arbitrum and calls itself an ecosystem-focused, community-driven DEX. Its homepage now describes an Orbital Liquidity Network, with Camelot acting as the liquidity hub for aligned Orbit chains.

DefiLlama has tracked it since November 2022 and lists it on Arbitrum, ApeChain, Xai, Reya Network, EDU Chain, DuckChain, Gravity, Rari and Superposition. Total value locked is about 4.27 million USD, down 3.9% over seven days. The project's token is GRAIL, and two audits are listed.

The project does not include fee schedules, volume figures or token economics, so this review sticks to what the project says about itself and the DefiLlama data.

How Camelot V2 works

Camelot is a decentralized exchange. Instead of an order book run by a company, trades happen against liquidity pools funded by users. Liquidity providers deposit token pairs and earn a share of trading fees, and swappers trade against those pools at prices set by the pool's formula.

Public sources describe the protocol as customizable and efficient, with a focus on composability so other projects can build on its liquidity. The homepage now frames Camelot as the liquidity hub of a network of Orbit chains, which are chains built using Arbitrum technology.

The GRAIL token is tied to the protocol, but the project does not describe its mechanics. Trades are signed from your own wallet, so you keep custody of your funds except for tokens you deposit into smart contracts.

6 features

Key features

Arbitrum-native DEX

Camelot began as a DEX on Arbitrum and describes itself as community-driven and built for that ecosystem.

Orbital Liquidity Network

The homepage positions Camelot as a liquidity hub linking aligned Orbit chains, branded the Orbital Liquidity Network.

Customizable liquidity infrastructure

The project says its protocol is customizable so builders and users can use its infrastructure for adaptable liquidity.

Multi-chain presence

DefiLlama lists nine networks, including ApeChain, Xai, Gravity and Superposition, beyond Arbitrum.

GRAIL token

GRAIL is the project's token, listed by DefiLlama. The project does not describe its exact role.

Composability focus

Camelot describes a design that goes beyond traditional DEXs and prioritises composability with other protocols.

Pros and cons

What we like

Long-running Arbitrum DEX, listed on DefiLlama since November 2022.
Clear focus on the Arbitrum and Orbit chain ecosystem.
Present on nine networks according to DefiLlama.
Two audits are listed on DefiLlama.
Non-custodial: trades are made from your own wallet.
Customizable design aimed at builders as well as traders.

Watch out for

TVL of about 4.27 million USD is modest for a DEX, so liquidity may be thin on less popular pairs.
TVL fell 3.9% over the past 7 days, per the DefiLlama data.
Fee levels, emissions and incentive details are not and must be checked in the app.
Spread across many smaller chains, which can fragment liquidity and add bridging steps.
Only two audits are listed, and the project does not say who did them or when.
Exposure to GRAIL token incentives and to the health of the Arbitrum and Orbit ecosystem.

Camelot V2 fees

Swap fees, liquidity provider fee splits and any protocol fee are not published. They are displayed in the app's swap and pool screens before you confirm a trade.

On top of any DEX fee you will pay network gas on the chain you use. Gas varies by chain and congestion, so check the wallet confirmation screen.

Is Camelot V2 safe?

DefiLlama lists two audits for Camelot, but the project does not name the auditors, dates or findings. Audits reduce risk without eliminating it, and users who deposit into pools face smart-contract risk and impermanent loss.

Camelot is non-custodial, so you hold your own keys. Wallet safety, correct site addresses and token approvals are the user's responsibility. Public sources mention no incidents, but they also do not cover the team, governance or bug bounty, so check the official documentation. Smaller chains in its network may carry additional bridge and chain risk.

6 steps

How to get started with Camelot V2

1
Install a self-custody wallet that supports Arbitrum and fund it with ETH for gas.
2
Open the official Camelot site and use the Launch App button, checking you are on the correct address.
3
Connect your wallet and select the network you want to use.
4
Choose the tokens to swap, review the quoted price, fees and slippage, and confirm.
5
To provide liquidity, pick a pool, understand impermanent loss, and start with a small amount.
6
Check the official documentation for GRAIL details and any incentive programs before staking.

Open Camelot V2

Who Camelot V2 is for

Camelot V2 fits Arbitrum users, liquidity providers and builders who want exposure to the Arbitrum and Orbit ecosystem. It is less suited to traders who need very deep liquidity across major pairs, or to anyone who wants fee and token details confirmed in advance.

Camelot V2 FAQs

What is Camelot V2?

Camelot is a decentralized exchange built on Arbitrum. It lets users swap tokens and provide liquidity from their own wallets. Its homepage describes it as a liquidity hub for the Arbitrum ecosystem and a network of Orbit chains.

Which chains does Camelot V2 support?

DefiLlama lists Camelot V2 on Arbitrum, ApeChain, Xai, Reya Network, EDU Chain, DuckChain, Gravity, Rari and Superposition. Arbitrum is the original home. Check the app for the networks currently supported.

What is the GRAIL token?

GRAIL is the token DefiLlama lists for Camelot. The project does not detail its utility, supply or emissions, so read the official documentation before buying or staking it.

Is Camelot V2 audited?

DefiLlama shows two audits listed for the project, but the project does not name the auditors. An audit lowers risk but does not remove it, and smart-contract bugs remain possible in any DEX.

How long has Camelot been around and how big is it?

Camelot V2 has been listed on DefiLlama since 23 November 2022. Its current TVL is about 4.27 million USD, down 3.9% over seven days at the time of the data.

What does it cost to use Camelot?

Swap fees and pool fees are not given publicly. They are shown in the swap interface and pool pages before you confirm a transaction, along with network gas fees.

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