Float Protocol
Float Protocol is a new type of non-pegged stablecoin protocol, started with ETH as a reserve asset. The protocol uses a dual token mechanism, FLOAT and BANK token. FLOAT is a non-pegged stablecoin whose value is supported by a basket of cryptocurrencies (v1 only supports ETH). Reserve assets are assets for users to purchase FLOAT, not collateral. The price of FLOAT is floating and the initial target price is set at $1.618. BANK is its governance token. It can take the profit created in times of excess demand for FLOAT and support the price of FLOAT from time to time.
Float Protocol is a new type of non-pegged stablecoin protocol, started with ETH as a reserve asset. The protocol uses a dual token mechanism, FLOAT and BANK token. FLOAT is a non-pegged stablecoin whose value is supported by a basket of cryptocurrencies (v1 only supports ETH). Reserve assets are assets for users to purchase FLOAT, not collateral. The price of FLOAT is floating and the initial target price is set at $1.618. BANK is its governance token. It can take the profit created in times of excess demand for FLOAT and support the price of FLOAT from time to time.
