UMIP 40 -Add BTC-BASIS-3M/USDC, BTC-BASIS-6M/USDC, ETH-BASIS-3M/USDC, ETH-BASIS-6M/USDC as price identifiers

Mhairi · March 2, 2022, 1:12pm

The DVM should support price requests for both BTC-BASIS-3M/USDC, BTC-BASIS-6M/USDC, ETH-BASIS-3M/USDC, ETH-BASIS-6M/USDC price indices. BTC-BASIS-3M/USDC is defined as: min(max(100.0 * [1 + (F-S)/S], 75.0), 125.0), where F references a basket of BTC futures that are set to expire in March and S represents a basket of BTC spot prices. ETH-BASIS-3M/USDC is defined in the same way, except the F and S correspond to ETH futures and spot. Similarly, the 6M BTC and ETH price identifiers would be the same formula except with futures that are set to expire in June instead of March .

github.com

UMAprotocol/UMIPs/blob/master/UMIPs/umip-40.md

## HEADERS
| UMIP-40     |                                                                                                                                          |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| UMIP Title | Add BTC-BASIS-3M/USDC, BTC-BASIS-6M/USDC, ETH-BASIS-3M/USDC, ETH-BASIS-6M/USDC as price identifiers              |
| Authors    | Bae (bae@youmychicfila.com), K (k@youmychicfila.com) |
| Status     | Approved                                                                                                                                    |
| Created    | January 18, 2020                                                                                                                           |
                                                                          
# SUMMARY 

The DVM should support price requests for both BTC-BASIS-3M/USDC, BTC-BASIS-6M/USDC, ETH-BASIS-3M/USDC, ETH-BASIS-6M/USDC price indices. BTC-BASIS-3M/USDC is defined as: min(max(100.0 * [1 + (F-S)/S], 75.0), 125.0), where `F` references a basket of BTC futures that are set to expire in March and `S` represents a basket of BTC spot prices. ETH-BASIS-3M/USDC is defined in the same way, except the `F` and `S` correspond to `ETH` futures and spot. Similarly, the `6M` `BTC` and `ETH` price identifiers would be the same formula except with futures that are set to expire in `June` instead of `March`.  

For closure:

BTC-BASIS-3M/USDC: min(max(100.0 * [1 + (F-S)/S], 75.0), 125.0), where F is a basket of 3 month BTC futures and S is a basket of BTC spot prices.
BTC-BASIS-6M/USDC: min(max(100.0 * [1 + (F-S)/S], 75.0), 125.0), where F is a basket of 6 month BTC futures and S is a basket of BTC spot prices.
ETH-BASIS-3M/USDC: min(max(100.0 * [1 + (F-S)/S], 75.0), 125.0), where F is a basket of 3 month ETH futures and S is a basket of ETH spot prices.
ETH-BASIS-6M/USDC: min(max(100.0 * [1 + (F-S)/S], 75.0), 125.0), where F is a basket of 6 month ETH futures and S is a basket of ETH spot prices.

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UMIP 40 -Add BTC-BASIS-3M/USDC, BTC-BASIS-6M/USDC, ETH-BASIS-3M/USDC, ETH-BASIS-6M/USDC as price identifiers

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