Market cap
$178.53K
-0.89 %
Volume (24h)
$284.95
-0.89 %
Circulating supply
1,141,050 FLOAT
Float Protocol: Float (FLOAT)
$ 0.16
-0.89 %
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Key data
updated $0Market cap$178.53K
Volume 24h$284.95
Circulating supply1.14M
Float Protocol: Float (FLOAT) is a DeFi project built around a low-volatility synthetic currency designed to move opposite to market fluctuations. Its native token, FLOAT, is used to mint and redeem the protocol's stablecoin-like asset, which floats gently rather than being pegged to a fixed value. In simple terms, it's an attempt to create a currency that holds purchasing power without a hard peg to the US dollar.
Frequently asked questions
What is FLOAT and how is it different from a stablecoin?
FLOAT is the governance and utility token of Float Protocol, while the protocol itself issues a synthetic currency also called FLOAT. Unlike stablecoins, which are hard-pegged to a fiat currency like the dollar, Float's currency is designed to float within a target range that adjusts to market conditions. This means it can slowly appreciate or depreciate rather than staying at exactly $1.
How does Float Protocol work?
The protocol uses a two-token system: the floating currency and BANK, a governance token that absorbs volatility. When demand for the floating currency rises, the protocol expands supply and distributes value to BANK holders; when demand falls, BANK acts as a buffer. All operations run through Ethereum smart contracts, so everything is transparent and verifiable on-chain.
How is FLOAT supply and issuance managed?
The floating currency is minted and redeemed through the protocol's Dutch auction mechanism, which discovers a fair price based on current demand. Supply expands when the market price is above target and contracts when it's below. The BANK token captures the difference, which is how the system balances itself without a central issuer.
How can I store and use FLOAT tokens?
Since FLOAT is an ERC-20 token on Ethereum, any wallet that supports Ethereum works — MetaMask, hardware wallets like Ledger, or mobile wallets. You can interact with the protocol directly through its official interface to mint or redeem the floating currency. Always verify contract addresses before making any transactions.