This UMIP introduces two new price identifiers for a token referred to as uPUNK. The token is a synthetic index based on the recent trading prices of CryptoPunks.
The two price identifiers are PUNKETH and PUNKETH_TWAP.
PUNKETH will typically be used to measure the fair market value at expiration of uPUNK and is computed by taking the median most recent purchase price (in ETH) of each unique CryptoPunk traded in the last 30 days.
PUNKETH_TWAP will typically be used to measure the current value of uPUNK and is a “self-referential” price. It is computed from the 2-hour TWAP on the highest volume Uniswap ETH/uPUNK pool (for a specified iteration of uPUNK, i.e. uPUNK-0921)