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BRB, going multichain.

· 4 min read
Float <> Avalanche

We’re deploying on Avalanche

BRB, our alpha is going multichain.

Float Capital is bringing Magic internet Assets to Avalanche.

We couldn’t be more stoked.

We’ll be going live with AVAX market with 2x leverage. Following that, we’ll be shipping more degen markets for Avalanche native tokens.

Now Avalanche users can trade in Float Capital, mint and switch positions, stake and mine alphaFLT tokens, and to build Float positions into existing strategies for even more degenerate effects.

The degen traders on Avalanche just got a lot more options.

To see what’s possible, check out our case study on hedging staked OHM using Float. With Olympus DAO deploying on Avalanche too, we might even look at shipping something new for Ohmies.

What’s different on Avalanche

Because our markets need liquidity to balance, we’re being very careful about relaunching markets that we’ve already deployed on Polygon.

In the next few weeks we’ll be shipping some absolutely degenerate markets for protocols running on Avalanche. These will allow users to trade, hedge, and mine rewards without leaving Avalanche.

No hints yet, but you’ll be able to open leveraged shorts on some of these assets for the very first time, and create tons of new trading and hedging opportunities.

We may even experiment with different payment tokens. Currently all our markets accept DAI, but we’re going to use Avalanche to test out some new payment tokens. Say no more for now, but we aren’t talking about stablecoins.

All of our Avalanche markets will have a 30 minute heartbeat – meaning that they receive price updates and process trades at least every 30 minutes. If the price deviation hits a certain threshold, this process will occur sooner.

As always our Avalanche markets will be powered by Chainlink price feeds. The Chainlink team has been incredible in helping us bring new feeds to Avalanche, and speeding up the existing ones for our markets. To read more about how we build our markets around Chainlink feeds, click here.

Using Float

Float Capital allows users to mint Magic Internet Assets with unbelievable ease.

Our markets track the price of an underlying asset, and allow you to get long and short exposure in a matter of clicks.

To take the pain out of trading, we’ve built a system that removes the need for collateralized debt positions or liquidations.

We use a genius set of incentives to help balance markets, by feeding additional rewards to users in underbalanced positions.

By staking your position, you can earn alphaFLT as a reward. The token issuance scales with the market balance, so underbalanced APYs get another layer of dank rewards.

If you’re a DeFi beginner looking for hands on experience, watch our tutorial series here.

Float Capital is currently in our alpha deployment. That means we’re live, with real money, but our contracts, mechanism and token aren’t final.

In the coming months, when we have a perfect model for Float we’ll ship our V1 product and our FLT token.

Until then, you’re perfectly safe to trade within Float and help us grow the protocol. In the meantime you’ll earn alphaFLT, which you’ll be able to redeem for FLT when it launches.

Start trading now at avalanche.float.capital.

Or, if you want to learn more, check out our docs, read our whitepaper, or join our Discord.

Having money in DeFi is risky. This piece should not be considered financial advice. To learn more about Float Capital and the risks you could be exposed to by using the protocol, read more here.

This piece was written by Campbell Easton, with input from JonJon Clark, Denham Preen, Woo Sung Dong and Jordyn Laurier.