UMIP 70 -Approve XIO As Collateral Type

Blockzero Labs proposes adding XIO as a collateral type to UMA Protocol in order to create an XIO Yield Dollar. The XIO Yield Dollar would play a pivotal role in our upcoming UMA DeFi Accelerator, where participants would be incentivized during a “Synthetic Mining” competition to mine for the XIO Yield Dollar. The underlying goals are to increase UMA TVL and to help onboard new users into the UMA ecosystem.

The first step in this process simply involves adding XIO as a collateral type. The second step will involve establishing a front-end UI for the minting of the XIO Yield Dollar.