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

# Circulating supply Methodology

## Overview

Circulating supply measures the number of tokens that are currently available for trading on the open market. It excludes tokens that are locked, unvested, or held in the project’s own treasury.

Number of tokens currently available for trading on the open market.

Float ProtocolBANK

Circulating supply

Circulating supply

Competitive landscape