Mhairi
March 2, 2022, 1:50pm
1
The DVM should support requests for the price of 1 BAL token in USD, or the price of 1 USD in BAL. The canonical price identifiers on-chain should be BALUSD and USDBAL.
## Headers
| UMIP-73 | |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| UMIP Title | Add BALUSD and USDBAL as supported price identifiers |
| Authors | Mhairi McAlpine (mhairi@UMAproject.org) |
| Status | Approved
| Created | March 30, 2021
| [Discourse Link](https://discourse.uma.xyz/t/add-balusd-usdbal-as-supported-price-identifiers/512) |
## SUMMARY
The DVM should support requests for the price of 1 BAL token in USD, or the price of 1 USD in BAL. The canonical price identifiers on-chain should be BALUSD and USDBAL.
## MOTIVATION
The DVM currently does not support these price identifiers. BAL is also being proposed as a supported collateral type and using BAL as collateral together with these price identifiers would allow BAL holders to get leverage on their holdings by minting yield-dollar type stablecoins. Adding BAL/USD will also allow for the creation of synthetic BAL, or more bespoke contracts such as covered call options backed by BAL.
## MARKETS & DATA SOURCES
- Contract Addresses:
show original