Floor Protocol, the company behind the groundbreaking BT404, the world’s first NFT index that enables users to earn yield on NFTs, has announced the launch of its V2 beta. Users can access their V1 assets through the platform at v1.fp.io.
The V2 beta release is an exciting development for Floor Protocol, a liquidity layer for NFT-Fi that operates on the FLOOR token. It conducts daily sweeps of NFT collection floors, generating yield by putting these assets to work in DeFi. The resulting yield is then reinvested in Floor Wars, with the ultimate aim of achieving larger weekly sweeps.
The protocol is built on a DAO model, with the objective of creating a continuous sweeping mechanism supported by NFT-Fi strategies and protocol-owned products. This approach offers substantial governance value by granting Sweep Power to FLOOR token holders. As a result, FLOOR holders have the authority to determine which NFT collections to sweep and support.
The new V2 beta release represents a significant advancement for Floor Protocol. It enhances the sweeping and yield-earning processes, promoting liquidity and capitalization on NFTs. This not only benefits the NFT ecosystem but also empowers FLOOR token holders to vote on the protocol’s future and areas of interest.
The introduction of the V2 beta is a positive development for decentralized projects like Floor Protocol and others operating within the NFT and DeFi realms. It is expected to drive progress and success for this innovative concept.
Tags: DeFi, NFT