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Back to Stablecoins
Float Protocol
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

Ethereum

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

Algorithmic

Collateral Type

Algorithmic

Issuer

Float Protocol

Community & Socials

Website Twitter / X Discord GitHub

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