What are the goals of Floor?

We aim to create a fully on-chain governance mechanism for sweeping and deploying NFTs to profitable NFT-Fi strategies, as well as testing and managing our own products and services in the growing NFT-Fi ecosystem. FLOOR token holders will have ultimate control over which collections are swept on a weekly basis, imbuing the FLOOR token with voting power that can be traded for yield on vote markets. Our primary goal is to drive as much ETH as possible to the sweeping mechanism, scaling the treasury with desirable, yield-generating collections and becoming a major player in the inevitable metaverse future.

What does FLOOR do?

The FLOOR token acts as the gatekeeper of the Floor Treasury, allowing holders to decide which collections are added to and swept by the DAO. Ultimately, FLOOR is a token that coordinates capital to solve the inherent liquidity and financial utility issues of NFT collections.

What does the FLOOR token vote on?

The two core features of Floor governance are:

  • New Collection Wars

  • Sweep Wars

New Collection Wars determine which collections are added to the Floor Treasury, enabling them to be swept every other week in Sweep Wars. These two votes exist under the umbrella of the Floor Wars.

Sweep Wars were previously called Gauge Votes, and work the exact same way: 50% of the yield from the subsequent 14 days after the vote is directed to the top voted choices on the Floor Snapshot.

Is FLOOR backed by the Treasury?

Floor's mission is to be an NFT liquidity layer, and the FLOOR token is a governance token that will be used for on-chain voting in V2. FLOOR is currently used in off-chain voting through Snapshot to help signal community interests. FLOOR has no strict requirement for market cap vs treasury parity, but as the DAO contracts become further decentralized and move on-chain these ideas can be explored.

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