The Floor protocol is an NFT-Fi liquidity layer, powered by FLOOR, that automates regular sweeps of collection floors and earns yield by deploying these assets to DeFi. This yield is then sent back to the Floor Wars with a goal to create larger and larger weekly sweeps.
The DAO aims to create a perpetual sweeping protocol that funds itself through NFT-Fi strategies and protocol owned products to deliver powerful governance value by handing over Sweep Power to FLOOR holders - giving them control over what NFT collections get swept and supported.
FLOOR voters decide what collections are swept or liquidated to maximize value to the DAO
Every epoch (14 days), FLOOR holders decide which collection to sweep with the epoch’s yield. But not all NFT collections can be swept - only those that have made it through an initial Collections Vote can move forward into the weekly Sweep Votes.
These votes have become heavily fought over giving rise to the Floor Wars. From here on these votes are referred to as the Collection War and the Sweep War.
A collection that has won a Collection War and made it into the Floor protocol receives a number of benefits:
Eligible for weekly buy pressure from the Sweep War
Integration into DeFi products to extend the utility of the collection
Instant buy/sell protocol owned liquidity deployed to NFTX
A third party vote market also operates alongside the Wars, where FLOOR holders can sell their votes to willing buyers for yield.