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apeing in responsibly

Float Capital Presents: A New Era of Magic Internet Assets

The Float Capital Alpha is going LIVE on the Polygon network!

Our official launch party is happening TODAY at 4pm GMT+2 (Friday, 17th Sept '21).

Expect big things. Tell your friends at the bar and library to join us on YouTube, because we'll be taking the Float protocol live to the public for the first time.

Before you embark on this mission and make onchain asset history, this article covers everything you need to know about the Alpha release, including some sneak peeks and degen hints!

To make it simple, we've broken it down into 3 main categories: GENERAL, HYPE and TECH.


What is Float Capital?#

Float is a community governed magic internet asset protocol utilizing novel mechanisms to prevent liquidations, while creating asset markets that scale.

You can use DAI (a USD pegged stable coin) to mint magic internet assets in a few clicks and leave the rest up to the code. Crypto, equities, commodities, forex, specialized assets (the flipp3ning)… we got you.

float capital app

Why use Float Capital?#

Float allows you to very easily hold a wide variety of assets while being simple, safe and efficient. The smooth UX will allow you to effortlessly create a position in a matter of seconds, while not having to stress about Collateralized Debt Positions (CDPs) and liquidations. Our perpetual smart contracts are designed to algorithmically react to market liquidity, ensuring your capital is used efficiently at all times.

How do I use the Float Alpha?#

The Float Alpha is exclusively deployed on the Polygon network to make use of the lightning-quick and near-free transactions. Simply head over to our website,, click the app button and follow the instructions. Bridge funds over to Polygon from Ethereum using the button on the bottom left of your screen.

If you are a web3 native, you'll know what to do. If you're not, don't stress — you can learn everything you need from our beginner's YouTube series here.

Can I get involved with Float?#

Absolutely. Float = Community.

Become an active member of our community and shape the future of the protocol.

Follow us on Twitter and join our Discord to get involved. Share some memes with us and tell us your thoughts about the protocol.

Why are we launching an Alpha?#

We are building an extremely complex product and believe real interaction is now needed to battle test the mechanism, so that we can further improve on aspects of the protocol.

We don't want to try and perfect our tech before ever releasing. That's a recipe for continuous delays and a product that no-one actually ever wants.

We ship fast and iterate. We want to build something that works and that people want. This Alpha is centered around user feedback.

What are the risks of using the Float Alpha?#

There are various different risks at different levels. It is important to understand these before participating in the Alpha.

Please read this article to understand the full list of risks.

As always, we call on all degens to AIR (Ape in Responsibly).

apeing in responsibly


$1,000 Alpha Launch Party + POAP#

The Float Capital Alpha virtual launch party is going down! Join us for the livestream on YouTube here (4pm GMT+2, Fri, 17th Sept '21).

Besides getting this super legendary POAP NFT for attending the historic alpha launch, we are also giving away $1,000 DAI in prizes during the launch party! You'll be able to use these to mint your very first positions in Float. Details for the giveaway will be announced on the call.

apeing in responsibly

Degen trading competition#

You heard right. Eternal glory, bragging rights, and some cold hard crypto are up for grabs to the best trader during our Alpha!

Stay tuned for more details about when this comp is going to kick off, we don't want to leak all our secrets at once.

alphaFLT generation multiplier#

Perhaps one of the least known and most underrated parts about the Alpha launch!

There is an initial 2x multiplier on earning alphaFLT tokens when staking! This multiplier steadily decreases to 1x over 60 days.


Collect 250 GEMS every day when you interact with the Float.


What can you do with your gems?#

Get exclusive profile unlocks, NFTs, trading perks, skins, early access, elite leagues, discord roles, dark mode…

Watch this space…

Legendary NFT drop for $1,000+ positions minted

Yes, yes. The alpha that keeps on giving.

We are going to be dropping a Legendary tier Float NFT to users minting and holding $1,000+ positions during the Float Alpha.

Details are still being finalized, so stay tuned, and hold onto your horses.

Zero fees to various NFT holders#

Who says NFTs and DeFi can't be friends?

In an industry first, we've cross-protocol partnered with Rumble Kong League to give all Kong NFT holders ZERO fees during the Alpha.

Also, a new partnership is coming soon. It may or may not be with an OG NFT protocol that has raised more than $150k for animal conservation.


alphaFLT vs FLT#

We are launching an Alpha to iterate quickly and gain valuable user feedback on the protocol. alphaFLT allows us to release a token with incentives, without committing or locking in to a final tokenomic design for FLT (which will likely change as we gather insights from the Alpha). This is in a similar vein to how we can release the Float Alpha without locking into a final smart contract design and hence allowing us to avoid large amounts of legacy so we can react quicker in future.

What will alphaFLT give you? At a very minimum, alphaFLT will entitle you to a proportional share of the Float Alpha treasury that will be accruing value throughout the Alpha. There are other possibilities which are still being modeled by the team. alphaFLT will initially be non-transferable while liquidity grows.

alphaFLT issuance#

alphaFLT will be issued throughout the Float Capital Alpha phase. Currently 75% of all alphaFLT issued is going to users who stake magic internet assets and provide liquidity. 25% of alphaFLT issuance is accruing to a separate smart contract earmarked for the team, investors, advisors and founders, along with a few other strategic uses.

Importantly, alphaFLT is only ever issued based on the dollar value of your magic internet asset that you have staked, and the length of time which you have staked. Therefore, these tokens are only gradually generated over time as valuable actions occur in the platform.


There are no fees associated with minting, staking or redeeming magic internet assets. The only fees being levied in the Alpha are on unstaking your magic internet assets. This is currently set at 50 basis points or 0.5%. These fees accrue to the DAO treasury contract governed by Float Capital users.

Where to find out more#

As much as we've gone through already, this is only the tip of the iceberg. There are so many interesting things happening under the hood, it's an oasis for economists, computer scientists, mathematicians, financial engineers and statistical scientists.

The best way to understand the nuts and bolts is to join our Discord server and simply send a message.


Only deposit money you can afford to lose#

This is a highly innovative and complex protocol that does not exist on any other chains or in any other galaxies. There is an element of risk involved, and it's important you do not invest money that you cannot afford to lose.

Team holdings and positions in the Alpha#

It's important we are transparent. Given we will initially be playing a large role in deciding what becomes of alphaFLT tokens and how it connects with FLT tokens in the future, we want to remain impartial and choose only what is best for the protocol and not for personal gains.

Given this insight, it's important we disclose the following internal trading restrictions: Float team members in their personal capacity should not be staking more than $2,000 of their personal capital initially. This target might change and we reserve the right to increase it. Any alphaFLT that is earned on staked positions over $2,000 will be redistributed in some form to benefit the protocol at large.

Additionally we are also running a team trading competition where every team member has been given $100 to trade. You will notice the protocol was actually deployed and went live on Monday. To ensure a smooth launch and have rigorous testing, we have been using these $100 amounts to test the protocol. Note that we have limited test staking to $1 of capital, over short periods, to ensure no one is earning alphaFLT unfairly ahead of the release.

Learn more#

If you want to learn even more about Float, you can visit the docs section of our website.

If you want breaking news, memes and announcements, follow us on Twitter.

If you want to join the community, meet the team and get involved in the future of Float, join our Discord.