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.

<Sources
  retrievedAt="2026-06-22"
  items={[

  ]}
/>


# Asset mints methodology

## 1. Overview

Asset mints is a metric that represents the total value of new assets minted onchain. Daily mint volumes are tracked across supported blockchains to quantify the issuance of tokenized assets. Gross mint events are identified from native token transfer logs and transaction-level supply changes. To ensure accuracy for assets with pre-minted supplies, corrections are applied by subtracting non-circulating allocations. The final metric is normalized by decimal precision and converted to USD using end-of-day price feeds.

## 2. Data sources

- **EVM chain events**: ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token `Mint` instructions
- **Non-EVM chain events and transactions**:
 - Algorand: Asset Configuration (`acfg`) transactions and token transfers
 - Cardano: UTXO-derived mint and burn events
 - Near: Token mint events
 - Polkadot Asset Hub: `Issued` events from `assets` pallets
 - Ripple: Transaction-level issuer net flows
 - Stacks: Token transfers with null senders
 - Sui: `TreasuryCap` object total supply changes
 - Stellar: SEP-41 `sep41_mint` events

- **Asset metadata**: Token addresses and decimal precision retrieved from token metadata
- **External data**: End-of-day price feeds sourced from market data providers

## 3. Step-by-step calculation

### Component A: Gross mint extraction

- **Purpose**: Extract raw mint events across all supported blockchains
- **Logic**: On EVM-compatible chains, ERC-20 `Transfer` events are parsed where the sender address is the zero address. On Solana, SPL token `Mint` instructions are extracted. On Algorand, withdrawals from asset configuration addresses are identified as gross mints. On Cardano, positive supply deltas are derived from transaction UTXO inputs and outputs. On Near, token mint events are extracted. On Polkadot Asset Hub, `Issued` events from `assets` pallets are parsed. On Ripple, transaction-level net flows are calculated, and positive net flows from issuer accounts are classified as mints. On Stacks, token transfers with a null sender address are extracted. On Sui, total supply changes are decoded from `TreasuryCap` objects. On Stellar, SEP-41 `sep41_mint` events are parsed.
- **Key fields**: `amount` (raw token quantity), `token_address` (asset contract or token identifier), `timestamp` (block timestamp)

### Component B: Premint correction

- **Purpose**: Adjust gross mints to exclude pre-minted tokens that do not enter active circulation
- **Logic**: For supported assets, a correction is applied to distinguish between gross mints and circulating supply changes. Mints that are sent directly to designated non-circulating premint addresses are classified as premints. Conversely, transfers from these premint addresses to circulating addresses are classified as premint issuances. Corrected mints are calculated by subtracting premints from gross mints and adding premint issuances.
- **Key fields**: `amount` (corrected token quantity), `token_address` (asset contract), `account_address` (premint address)

### Component C: Decimal normalization

- **Purpose**: Normalize raw token quantities into standard units
- **Logic**: Raw token amounts are normalized by decimal precision. Decimal precision is retrieved from token metadata for each specific asset.
- **Key fields**: `amount` (normalized token quantity), `decimals` (decimal precision)

### Component D: Final aggregation and USD conversion

- **Purpose**: Aggregate daily normalized mints and convert the values to USD
- **Logic**: Normalized daily mint amounts are aggregated by asset and blockchain. Daily USD values are calculated by multiplying the daily normalized mint amount by the end-of-day price feed for the respective asset. If no mint events occur on a given day, the daily value is filled with zero values.
- **Key fields**: `amount_usd` (daily minted value in USD), `price_usd` (end-of-day asset price)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Asset mints

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.

website

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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