FloorDAO was fair launched on a Copper Token Liquidity Bootstrapping Pool (LBP), on Ethereum mainnet, on February 22, 2022 for its valueless governance token aFLOOR.

There were no presale or investors, with the initial capital for the auction provided from a DAO-to-DAO loan from NFTX DAO.

aFLOOR or “Alpha FLOOR” will be used to vote in pre-launch governance. Critically, it will be used to vote on the deployment of the protocol, which if passed, will make aFLOOR redeemable 1:1 for FLOOR.

500,000 aFLOOR was available in the Copper launch and paired with 500 WETH.

Post LBP, a portion of the remaining aFLOOR/WETH liquidity was be moved to a Uniswap v3 pool to allow for ongoing price discovery. ETH added to the LBP was used to seed the FloorDAO treasury and kick-start the V1 rebase rewards and bond markets.

Floor was funded via a short-term loan from NFTX, as a result there has been no need for investors or a private sale as shown in the token distribution below.

Team allocations

In V1, Floor used the Olympus pOHM model which vested FLOOR tokens based on a fixed "supply share" of an increasing total supply (supply increased through regular rebases). Vesting users could mint FLOOR tokens by depositing 0.001 ETH per FLOOR token into the treasury.

In V2, rebasing was made redundant and the total supply of FLOOR became fixed (although still mintable by governance). For this reason, team, advisor and NFTX vesting has ended and any remaining claimable amounts still require a 0.001 ETH treasury deposit per token.

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