Mhairi
March 3, 2022, 11:12am
1
This UMIP will add iFARM as approved collateral currency. This will involve adding the iFARM token to the whitelist and adding flat final fees to charge per-request. More information on FARM and iFARM can be found here .
## HEADERS
| UMIP-88 | |
|------------|-------------|
| UMIP Title | Add iFARM as a supported collateral currency |
| Authors | EAsports and gruad |
| Status | Approved|
| Created | 4/17/2021|
| Discourse Link: | https://discourse.uma.xyz/t/adding-ifarm-as-collateral/922 |
# SUMMARY
This UMIP will add iFARM as approved collateral currency. This will involve adding the iFARM token to the whitelist and adding flat final fees to charge per-request. More information on FARM and iFARM can be found [here](https://farm.chainwiki.dev/en/home).
# MOTIVATION
iFARM is the interest-bearing receipt of the cash flow token FARM from Harvest Finance. All FARM staked in the SP pool either directly or through iFARM receives the benefit of a portion of all profits across all Harvest vault strategies. The Harvest community is interested in utilizing their capital more efficiently and borrowing against their iFARM while their FARM is still earning and exploring additional use cases within the UMA ecosystem such as KPI options.
# TECHNICAL SPECIFICATIONS
To accomplish this, two changes need to be made:
show original