Mhairi
March 2, 2022, 1:58pm
1
This UMIP will add SGT as an approved collateral currency. This will involve adding the governance token to the whitelist and adding a flat final fee to charge per-request. The proposed final fee is 30 SGT per request.
The tokenomics of SGT are continuously evolving, with the DAO driving innovation. Reference Tokenomics - SharedStake to learn more about the tokenomics and distribution of SGT.
## Headers
| UMIP-80 | |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| UMIP Title | Add SharedStake(SGT) as Collateral |
| Authors | Warren Muffett (wmuffet@yahoo.com) and Chimera |
| Status | Approved |
| Created | April 9th, 2021 |
| Discourse Link | https://discourse.uma.xyz/t/add-sgt-as-an-approved-collateral/813 |
## Summary (2-5 sentences)
This UMIP will add SGT as an approved collateral currency. This will involve adding the governance token to the whitelist and adding a flat final fee to charge per-request. The proposed final fee is 30 SGT per request.
The tokenomics of SGT are continuously evolving, with the DAO driving innovation. Reference https://docs.sharedstake.org/sgt/tokenomics to learn more about the tokenomics and distribution of SGT.
## Motivation
SharedStake is an initial custodial staking service that allows anyone to stake their ETH without having to maintain or monitor validator nodes. Simply put, SharedStake removes friction associated with ETH 2 staking
By adding SGT as collateral, Sharedstake will be able to create derivative contracts such as KPI options that will be proposed shortly after. This is an opportunity to incentive growth of the SharedStake platform alongside the usage of KPI options.
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