Mhairi
March 2, 2022, 2:00pm
1
This UMIP will add LON, BANK, MASK, VSP, SFI, FRAX, ORN, BOND and PUNK-BASIC as approved collateral currencies.
## Headers
| UMIP-82 | |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| UMIP Title | Add LON, BANK, MASK, VSP, SFI, FRAX, DEXTF, ORN, BOND and PUNK-BASIC as approved collateral currencies |
| Authors | John Shutt (john@umaproject.org) , Deepanshu Hooda (deepanshuhooda2000@gmail.com) |
| Status | Approved |
| Created | April 19, 2021 |
| [Discourse Link](https://discourse.uma.xyz/t/add-ohm-lon-bank-mask-vsp-sfi-frax-mir-orn-and-bond-as-approved-collateral-currencies/919) | |
# Summary (2-5 sentences)
This UMIP will add LON, BANK, MASK, VSP, SFI, FRAX, ORN, BOND and PUNK-BASIC as approved collateral currencies.
This will involve adding each of these tokens to the whitelist and adding flat final fees to charge per-request.
# Motivation
Adding a collection of popular and liquid ERC20 tokens as collateral types will allow for a variety of contract deployments. These could be used with ERC20/USD price identifiers that are also being proposed to create yield dollars or covered calls collateralized by each of these tokens, among many other use cases.
Proactively approving these collateral types and price feeds will make it easier for development teams and protocol treasuries to create new products using these ERC20 tokens.
# Proposed Collateral Currencies
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