Mhairi
March 2, 2022, 12:31pm
1
This UMIP provisionally registers the ExpiringMultiParty template with the DVM. This financial contract template enables the creation of priceless synthetic tokens, as described here .
# Headers
| UMIP-4 | |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| UMIP Title | Register new financial contract with DVM |
| Authors | Matt Rice (matt@umaproject.org), Prasad Tare (prasad@umaproject.org), Chris Maree (chris@umaproject.org), Nick Pai (nick@umaproject.org) |
| Status | Approved 19 May 2020 |
| Created | April 30, 2020 |
# Summary
This UMIP provisionally registers the `ExpiringMultiParty` template with the DVM.
This financial contract template enables the creation of priceless synthetic tokens, as described [here](https://docs.umaproject.org/uma/synthetic_tokens/explainer.html).
Synthetic tokens are collateral-backed tokens whose value fluctuates depending on the tokens’ reference index.
The proposed contract design has the following features:
- Contract parameters can be customized by the initial deployer
- Anyone can mint synthetic tokens by depositing Dai as collateral
- Anyone can liquidate undercollateralized positions
- Anyone can dispute invalid liquidations within a 2-hour liveness period
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