Charm Finance LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/charm-finance-ltipp-application-draft/21625

Council - 3/4 Yes Votes

Feedback

404 DAO Feedback Charm Finance presented a solid application that scored well across alignment, security and general merits as their strategy targets growing the WBTC/WETH pie on Arbitrum. This application benefitted from being very straightforward in their plan and purpose. While we felt their milestone orientation were weak and grant ask was relatively high to their TVL, we are supportive of this endeavor to drive this liquidity/capital to Arbitrum. The grant ask is pretty small and feel the risk is worth pushing this to the DAO.

Karel Feedback "Vote AGAINST Charm Finance's proposal.

Well-written proposal but the justification for grant size focused on a single vault that exceeds total amount of TVL on Arbitrum is insufficient. There's indeed a large market to be tapped into but it seems unrealistic that this will be possible for the duration of the grant."

GMX Feedback The Charm Finance proposal aims to bring some of the 600 million in Mainnet Liquidity they have for their WETH/WBTC vault over to arbitrum using 55k of ARB. Given the relatively small ask of the grant and the need for more wBTC liquidity on Arbitrum I would be in support of this proposal. This incentive program's KPIs will depend on how much they can attract new users to the lower cost L2 environment.

For a fairly small grant this has the potential to deepen wBTC liquidity on Arbitrum and make it so users no longer need to leave the ecosystem to swap larger amounts.

GFX Feedback

The request is small, the execution plan simple. This is at the upper bounds of what we consider appropriate for more experimental and speculative grants. We recommend approving this grant, as it scored well overall.