UMIP 123 -Add `XSUSHI_APY` as a price identifier

Mhairi · March 3, 2022, 3:01pm

The DVM should support price requests for the xSushi APY derived from an arbitrary number of days of sushi yield data.

UMAprotocol/UMIPs/blob/master/UMIPs/umip-123.md

# Headers:

| UMIP-123            |                                                                                 |
| ------------------- | ------------------------------------------------------------------------------- |
| UMIP Title          | Add `XSUSHI_APY` as a price identifier                                          |
| Authors             | Jono (thevdm100@gmail.com)                                                      |
| Status              | Approved                                                                        |
| Created             | August 5th, 2021                                                                |
| Discourse Link      | https://discourse.uma.xyz/t/add-xsushi-7d-apy-as-a-price-identifier/1284 |

# Summary:

The DVM should support price requests for the xSushi APY derived from an arbitrary number of days of sushi yield data.

# Motivation:

Across Defi there exists no product in which traders can express views on the rate of change of market making yields in AMM’s in a non capital intensive way. As swap fees are a direct proxy for volume/volatility, there are many parties that would benefit if such a product existed. Two groups who would likely balance short and long interest, namely:

**Potential short party**: Market makers, miners, MEV searchers, Sushiswap and xSushi holders (assuming sufficient liquidity) could hedge revenues by shorting this synthetic if they believe that volume is likely to decline as all parties have revenues correlated to volume.

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UMIP 123 -Add `XSUSHI_APY` as a price identifier

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