Mhairi
March 3, 2022, 11:20am
1
Due to necessity and after discussing with the UMA team, their ExpiringMultiParty contract was modified to support variable expiration from an application specific authorized DAO address. Other projects such as Synthereum have needed a custom solution for this use case in the past. This financial contract template will be available for any projects on UMA to use. The main contract that was modified is PricelessPositionManager.sol.
## Headers
- UMIP-99
- UMIP title: Add Variable Expiring MultiParty (VEMP) financial contract template
- Author: Prelaunch Team, dev@prelaunch.finance
- Status: Approved
- Created: April 14, 2021
- Discourse Link: https://discourse.uma.xyz/t/add-variable-expiring-multiparty-financial-contract-template/883
## Summary (2-5 sentences)
Due to necessity and after discussing with the UMA team, their ExpiringMultiParty contract was modified to support variable expiration from an application specific authorized DAO address. Other projects such as Synthereum have needed a custom solution for this use case in the past. This financial contract template will be available for any projects on UMA to use. The main contract that was modified is PricelessPositionManager.sol.
## Motivation
The current implementation of the ExpiringMultiParty (EMP) contract accepts a fixed expiration at the time of creation, which cannot be modified. In our use case, we needed the Prelaunch DAO to be able to expire the contract at a specific unknown future time in response to unpredictable events and factors. With the Variable EMP contract proposed, the Prelaunch DAO will be able to expire the contract at a final price after a vote of token holders votes favorably. As a backup, the contract will still expire at the expiration time set at creation.
## Technical Specification
The main contract that was modified is PricelessPositionManager.sol, Available here: https://github.com/PrelaunchFinance/VEMP/blob/main/contracts/PricelessPositionManager.sol
The diff files showing the modifications of all files compared to the EMP contract can be found here: https://github.com/PrelaunchFinance/VEMP/tree/main/diffs
Below is an overview of the significant changes made in PricelessPositionManager.sol.
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