Description
Charm LST is a product from Charm, launched after Polygon Labs selected Charm as the market maker for sPOL, the official liquid staking token for POL. The product's flagship offering is the wPOL/sPOL vault, an LST liquidity vault that automatically manages concentrated liquidity positions in the wPOL/sPOL 0.01% pool on Uniswap (Polygon), capturing trading fees for depositors. Users deposit into the vault in one click, and the vault maintains tight price ranges, automated rebalancing, and low risk by only holding tightly correlated pairs, charging a 2.5% performance fee on captured fees with no AUM fee. The vault's strategy was backtested using three years of swap data from the wstETH/WETH 0.01% pool on Ethereum Mainnet (chosen for similarity to the sPOL/wPOL pool), estimating net APRs between roughly 13% (worst case) and 28% (best case). Charm LST uses Charm's liquidity-management smart contracts, which have operated for nearly five years without security incidents, managed over $300M in TVL since their May 2021 launch, and undergone four audits. The product serves DeFi users and liquidity providers on Polygon seeking real yield from LST trading activity.Technology & Skills
Uncover the hard and soft skills and tools employed by the organization, and gain insight into the technologies that drive their success