An UMIP number will be assigned by an editor. When opening a pull request to submit your UMIP, please use an abbreviated title in the filename. The file name should follow this format - "umip_add_priceidentifiername.md". Please remove this and all italicized instructions before submitting your pr. All bolded fields should be filled in before submission.
| UMIP | |
|---|---|
| UMIP Title | Add Price Identifier Name as a supported price identifier |
| Authors | Name |
| Status | Draft |
| Created | Today's Date |
| Discourse Link | Create a post in UMA's Discourse and link here |
The DVM should support price requests for Price Identifier Name. Price Identifier Name reflects the Summary of Price Identifier.
Please explain why you want to add this price identifier. What types of synthetics are you intending to create with this?
How should voters access the data necessary to calculate the value of this price identifier? What specific markets or data sources should be referenced?
If proposing multiple price identifiers, please add markets or other data sources for each.
- Price identifier name: First Price ID Name
- Base Currency: BASE - ETH - May not apply if this is not a typical Base/Quote price
- Quote Currency: QUOTE - USD - May not apply if this is not a typical Base/Quote price
- Markets & Pairs: Markets & Pairs - Example: Binance ETH/USDT, Coinbase Pro ETH/USD. This might not apply to all price identifiers
- Example data providers: Provider to use - Cryptowatch, TraderMade, Quandl, the Graph
- Cost to use: Explanation or link to provider pricing plan
- Real-time data update frequency: Frequency - 60 seconds
- Historical data update frequency: Frequency - 5 minutes
To allow for the creation of bots that can programmatically calculate prices off-chain to liquidate and dispute transactions, you must create a price feed following the UMA Protocol format (outlined below). This price feed is also necessary to calculate developer mining rewards.
If using existing price feeds from the UMA protocol repo, please list the price feeds used and write a price feed configuration following the examples here.
Existing price feeds include: (Please remove before submission)
- Balancer
- Uniswap/SushiSwap
- CoinGecko
- CoinMarketCap
- CryptoWatch
- DefiPulse
- TraderMade Forex rates
- ExchangeRate Forex rates
- LP tokens
- Vault tokens
- Quandl
- Any combination of these
This is an optional section. If your price identifier is not intended to use ancillary data, you can remove this section entirely. You can read a full explanation of the expected ancillary data format here. An UMIP example of this section can be seen here.
The section should describe why price identifier design decisions were made, as well as any alternative designs that were considered.
Describe how UMA tokenholders should arrive at the price in the case of a DVM price request. Document each step a voter should take to query for and return a price at a specific timestamp, including rounding instructions. This should include an example calculation where you pick a specific timestamp and calculate the price at that timestamp.
Some optional questions to consider: (Please remove before submission)
- How could pricing data manipulation occur?
- How could this price ID be exploited?
- Do the instructions for determining the price provide people with enough certainty?
- What are current or future concern possibilities with the way the price identifier is defined?
- Are there any concerns around if the price identifier implementation is deterministic?