Float — a new protocol that creates an efficient, code-driven internet asset marketplace that allows anyone around the world to participate.
How does Float work?
Float's vision - to provide decentralized and trusted exposure across different asset classes. Traditional financial markets are often complex, opaque and geographically separated, making it difficult for a user to own a diversified basket of assets. In addition, traditional markets cover layers of different service providers, each incurring a negligible commission, which tends to reduce much of the end user's investment returns.
Smart contracts provide a reliable and efficient coordination of the financial system, where user access to various assets can be built on a peer-to-peer market.
"Short" and "long" tokens:
| 1. | For each market, users can create "long" or "short" tokens of that market. |
| 2. | Holding long tokens allows you to benefit from the rise in the price of the underlying market. |
| 3. |
Holding short tokens allows you to benefit from the decline in the price of the underlying market. |
Oracle - a channel that transfers information from the real world to the blockchain. For the purposes of trading internet assets, oracle will provide price information for the underlying asset. Float has integrated Chainlink's incredible price channels into the protocol to provide the most accurate and efficient data for the magical interne.
Similar to token buybacks, fees, earned by the protocol that are not paid to holders in exchange for helping to balance liquidity pools, will help to buyback FLT tokens on the open market, thereby reducing the supply in circulation and increasing their value.
Project token
Float — a platform management token. They are earned by staking any Internet Float token in a staking contract. The number of floats you earn depends on the length of time and value of your bets, which side of the market you are betting on, and other parameters. The Float clause is intended to increase the size of the protocol.
Float token holders will be in control of important protocol decisions such as fee parameters and deciding which new markets to create. The protocol fee and interest, earned from the protocol collateral, will also help to purchase Float on the open market, creating price support for the Float token.