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Rank #26FLOATAlgorithmic
Float Protocol
Pegged to
USD
Market Cap
$5.00M
24h Volume
$100.0K
Circulating Supply
5.00M FLOAT
Total Supply
5.00M FLOAT
Peg Target
USD
Collateral Type
Algorithmic
Issuer
Float Protocol
Launch Date
01-02-2021
About Float Protocol
Float Protocol is an experimental monetary system that aims to create a truly decentralised and non-dollar-denominated stablecoin. Unlike traditional stablecoins that peg to $1, FLOAT targets a stable but floating value determined by market forces and protocol mechanics. The system uses a dual-token model with FLOAT (the stablecoin) and BANK (the governance/absorption token). It draws inspiration from central bank monetary policy, using basket-based and auction mechanisms to manage supply and demand.
Supported Blockchains
Pros
- Novel approach to stable value
- Not pegged to any fiat currency
- Experimental monetary policy
- Fully decentralised
Cons
- Very experimental with minimal adoption
- Extremely small market cap
- Complex mechanism hard to understand
- Not suitable as dollar substitute
Key Features
Non-dollar-denominated stablecoin
Floating target price mechanism
Dual-token model (FLOAT + BANK)
Central bank-inspired monetary policy
Basket factor for price targeting
Auction-based supply adjustment
Stablecoin Information
Category
AlgorithmicCollateral Type
AlgorithmicIssuer
Float Protocol