Mhairi
March 2, 2022, 1:23pm
1
This UMIP registers the Perpetual
template with the DVM. This financial contract template enables the creation of non-expiring priceless synthetic tokens, through the use of the optimistic oracle and a funding rate mechanism.
# Headers
| UMIP-53 | |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| UMIP Title | Register new Perpetual financial contract with DVM |
| Authors | John Shutt (john@umaproject.org) |
| Status | Approved |
| Created | February 16, 2021 |
## Summary (2-5 sentences)
This UMIP registers the `Perpetual` template with the DVM. This financial contract template enables the creation of non-expiring priceless synthetic tokens, through the use of the optimistic oracle and a funding rate mechanism.
# Motivation & Rationale
The Perpetual contract template will allow for the creation of non-expiring synthetic assets, which are useful for a wide variety of use cases. A simple example would be a synthetic asset that tracks the price of a stock index without an expiration date. This can be easier for token holders, token sponsors, and liquidity providers to manage, as it does not require them to roll over to a new token on some expiration date.
# Technical Specification
To accomplish this upgrade, a new financial contract template must be deployed.
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