This UMIP re-introduces the price identifier previously called PUNKETH and updates it for use in an Long/Short Pair token referred to as uPUNKS. The token is a synthetic index based on the recent trading prices of CryptoPunks. The previous price identifier PUNKETH-1221 found in UMIP 130 is not being re-used due to the fact that it was built for the EMP contract. This UMIP re-uses the logic of the previous PUNKETH price identifier from UMIP 84 and uses the expiry timestamp per contract deployment to allow the creation of multiple overlapping uPUNK contracts. The PUNKETH_TWAP price identifier is ignored as the LSP is un-liquidatable and this logic is not necessary.
The DVM should support requests for a price that resolves to the median most recent purchase price (in ETH) of each unique CryptoPunk traded in the last T seconds, as specified in the contract’s ancillary data.