Mhairi
March 2, 2022, 1:45pm
1
This UMIP will add Sushi and xSushi as approved collateral currencies. This will involve adding these to the whitelist and adding a flat final fee to charge per-request. The proposed final fee is 25 SUSHI and 22 xSUSHI per request.
## Headers
| UMIP-67 | |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| UMIP Title | Add SUSHI and xSUSHI as approved collateral currencies |
| Authors | Sean Brown (@smb2796) |
| Status | Approved |
| Created | March 10, 2021 |
| [Discourse Link](https://discourse.uma.xyz/t/add-sushi-and-xsushi-as-collateral-types/335) | |
## Summary (2-5 sentences)
This UMIP will add Sushi and xSushi as approved collateral currencies. This will involve adding these to the whitelist and adding a flat final fee to charge per-request. The proposed final fee is 25 SUSHI and 22 xSUSHI per request.
## Motivation
SUSHI and xSUSHI are both ERC-20 tokens used by the SushiSwap community. SUSHI is the governance token of SushiSwap and is also used for staking. When SUSHI holders stake SUSHI, they receive xSUSHI in return. Each xSUSHI is thus exchangeable for a certain amount of staked SUSHI tokens.
Adding SUSHI and xSUSHI as collateral types will allow for a variety of contract deployments. These could be used with the SUSHI/xSUSHI price identifiers that are also being proposed, to create SUSHI/xSUSHI backed yield dollars, or SUSHI/xSUSHI covered calls.
## Technical Specification
To accomplish this upgrade, two changes for each currency need to be made:
show original