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- UMIP title: Add miMATIC, VOL, BIFI, ICE, IRON and IF as supported collateral currencies
- Author: Chandler (email@example.com)
- Status: Last Call
- Created: 13 September 2021
## Summary (2-5 sentences)
This UMIP proposes adding **miMATIC**, **VOL**, **BIFI**, **ICE**, **IRON** and **IF** for use as collateral in UMA contracts.
The addition of this collateral currency offers additional functionality to the UMA protocol and increases the range of contracts that can be built.
miMATIC also known as MAI is a soft pegged stablecoin that is backed by other assets in the Polygon network.
## Technical Specification