The Float Capital alpha release is an early release of the audited Float Capital protocol on the Polygon network. Users can inject real money into the alpha platform and long and short the launch markets to gain enhanced yield on their positions.
The alpha launch will take place on the 17th of Sept 2021 2pm UTC.
Although the code has been audited, usage of the alpha protocol is recommended for only experienced DeFi investors.
More on the security steps taken to ensure user safety on the Float protocol can be read here.
The alpha release will be launched with the alphaFloat(alphaFLT) token. The Float Governance token (FLT) will be launched during the main release of the Float Capital protocol. For the alpha launch, the alphaFloat token will be non-transferable, however, it will be convertible for value accrued to the system.
Users who stake early can earn increased alphaFloat tokens when the alpha launches. AlphaFloat Token issuance will launch with a 2x multiplier on tokens earned which decreases linearly to 1 over 60 days! Stake early to maximize your alphaFloat earned!
The alpha Float protocol will provide users with a direct link to bring their cross-chain assets to the Polygon chain via the Polygon Bridge. Users can then bridge their DAI from other chains to the Polygon network to use on the alpha Float protocol.
The alpha Float protocol will launch with an initial market of the Flipp3ning, a 3x leveraged version of the Flippening, which is based on the market cap of Ethereum vs. the market cap of Bitcoin.
Additional markets will be added throughout the Alpha in a two week cadence. Users can make suggestions for each new market on the Float Capital discord .
The alpha launch will feature an asset trading competition, and unique bonuses for members of the Float community.
Users can compete to see who can grow their position the most over the next month, with the winners receiving unique NFTs and DAI prizes.
The competition will go live on Friday the 24th of September. To be eligible for entry, users will have to stake at least 100 DAI within the alpha protocol by 12pm on 24 September, 2021.
The competition will run until 12pm on October 24. Winners will be judged based on who was able to make the highest percentage gain on their position when the competition ends.
The alpha Float protocol will go live with 0% fees for holders of Rumble Kongs NFTs.
The alpha protocol only charges a fee for unstaking positions within the dApp, but for users with Rumble Kongs held in the wallet linked to the protocol, this fee will be waived.
This discount for Kong holders is part of a longer partnership, bridging the gap between synthetic assets and NFT communities.
Users of the alpha Float protocol can collect Gems when interacting with the protocol. Read more on Gems here.
To collect Gems users must do one of the following actions every 24 hours:
- mint a long or short position on a market
- redeem long or short synthetic tokens
- stake synthetic tokens
- unstake synthetic tokens
Keep your daily streak 🔥 going and see how many gems you can collect by interacting with the protocol every 24 hours!💠
Not all alphas are made the same. In many cases when a team refers to an alpha, they mean an MVP, or an untested release. The Float alpha is production ready.
By launching as an alpha the aim is to field test the protocol before making any of its mechanisms immutable. This will help guarantee that the protocol has maximum utility for users.
The alpha protocol has already passed a range of smart contract audits, including by community driven audit platform, Code 423n4, and users will be able to inject capital and stake positions with confidence in the safety of their assets.
Get ready to trade and ape in with our simple how to guide detailing everything you need to know on getting started with the Float Capital protocol: