Float Protocol
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Float Protocol

[Weekly Wrap up] — What is going on at Float Protocol

TLDR

  • Treasury diversifying
  • Pool Party with OHM
  • New pools (incl. FLOAT-USDC)

It’s been an interesting few weeks in crypto. Whispers of stablecoin regulation and markets are moving but at FLOAT we have continued to build and spread the word. Read on below to catch up on what has been going on a Float Protocol.

Treasury Diversification

The treasury diversification is well underway. This was voted on by the Float Protocol DAO as we have looked to get more and more strategic partners into the Float ecosystem to aid with the Protocol’s growth. You can catch up on the snapshot vote results here — those who voted, don’t forget to claim your POAP. Just the last few partners to come through before this initial treasury diversification comes to a close and we can release a more formal announcement.

The diversification will be important moving forward as the Protocol allocate funds without additional price pressure on BANK. We look to onboarding developers and community members rapidly in a more formal manner as we show the world how great FLOAT is 🔥. If you are interested, reach out via telegram or discord — please let us know what you would like to work on at Float Protocol.

Pool Party

Paul and John with fellow yellow-submariners, FLOATers and BANKsters went to a little pool party. Olympus DAO is looking at expanding their Rari Fuse Pool Party and had a community call with Float Protocol alongside Rari Capital, Fei Labs, Alchemix and Reflexer. Just a quick summary of the call: intro to Rari Fuse, what makes it different from Compound, FEI’s and Reflexer’s experience so far with Rari Fuse, mechanisms of Float and what makes it special, some alpha leaks 👀, challenges in DeFi including pool2 incentivisation and inter-DAO governance. It was great to hop on the call with the Ohmies. To catch up on the full monty, the link to the Community call is here.

Keep your eyes peeled for a proposal on Rari Fuse as we prepare for the first lending and borrowing of FLOAT and BANK.

Phase 4 (III) is a go

Starting on the 1st of August, Phase 4 (III) began. We released an exciting set of new distribution pools including multipliers on staked deposits, and an incentivised Uniswap v3 low fee FLOAT-USDC using Gelato. This should really aid with onboarding new users into the Float ecosystem as people start to explore alternatives to traditional stablecoins. You can explore the new BANK distribution pools at https://floatprotocol.com/#/pools. So far we have already seen over $4.4 million total value locked in the G-UNI USDC/FLOAT pool. It is possible to add FLOAT + USDC liquidity on Zerion or Sorbet for G-UNI. Plus, FLOAT is now verified on Zerion ✅.

until next time, Keep floating.

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Float Protocol is building the decentralised monetary system of the future. At the heart of the protocol is the FLOAT token. It is designed to be the first truly native internet currency, one whose value changes over time as demand for it, and crypto, changes.

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