FLOAT, issued by the Float Protocol smart contracts under the governance of BANK tokenholders, is an algorithmic stablecoin token presented by its issuer as carrying a variable target price rather than a fixed peg to any single fiat currency.

The asset registry record identifies the underlying as the Float Protocol FLOAT unit itself, described as an algorithmic stablecoin with a variable peg whose target price is maintained through a two-token mechanism rather than through reserves of a named fiat currency. Holders therefore receive economic exposure to that variable target price as governed by the protocol. The reference fiat currency and peg ratio, the payout or accrual mechanism, and any fees borne by the holder are recorded as unavailable.

FLOAT is presented in its registry record as an algorithmic stablecoin and is not issued by a single identified corporate entity; the asset is recorded as governed by protocol smart contracts and tokenholders rather than a named legal issuer. As of June 22, 2026, no substantive page could be retrieved from the issuer's in-scope domain, so the issuer legal entity and jurisdiction of formation, any applicable regulator or license regime, the legal form of the tokenholder's claim, eligibility and offering restrictions, redemption rights, and any custodial or security-interest arrangement protecting tokenholders are recorded as unavailable in the structured fields below.

The asset registry record characterizes FLOAT as an onchain algorithmic stablecoin operated through smart contracts. As of June 22, 2026, no issuer-sourced disclosure could be retrieved, so the token standard, the named blockchain networks supported, the mint and redeem mechanics, settlement timing, and any oracle or price-publication mechanism are recorded as unavailable in the structured fields below.

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Stablecoins

Float uses a two-token model (FLOAT and BANK) with Dutch auctions to stabilize the FLOAT price around a variable target index.

Float Protocol issues FLOAT, a non-pegged stablecoin that targets a variable price index determined by market conditions rather than a fixed fiat currency peg.

Float Protocol is a DeFi team that built an algorithmic monetary system on Ethereum.

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Stablecoin issuers

Float Protocol

Float Protocol FLOAT (FLOAT) is a Yield strategy stablecoin issued by Float Protocol.

Holders can mint and redeem directly with Float Protocol.

FLOAT has been issued on Ethereum as an ERC-20 token since May 2021.

Float Protocol FLOATFLOAT

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