The Floor protocol is an NFT-Fi liquidity layer, powered by FLOOR, that automates weekly sweeps of collection floors and earns yield by deploying these assets to DeFi. This yield is then sent back to the Floor Wars to create larger and larger weekly sweeps.
The goal of the DAO is 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 the power to decide what NFT collections gets swept and supported.
FLOOR holders decide the outcome of the weekly Floor Wars
Each week FLOOR holders vote on which collection to sweep with the week’s yield. But not all NFT collections can be swept - only those that have made it through an initial New Collections Vote can move forward into the weekly Sweep Votes.
These votes have become so heated and fought over that they have been given the name, “The Floor Wars”. From here on these votes are referred to as the New Collection War and the Sweep War.
A collection that has won a New 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 and Sudoswap
A vote market also operates alongside the Wars, where FLOOR holders can sell their votes to willing buyers for yield.