Floor Protocol, the pioneer behind BT404, the world’s first NFT index that allows users to earn returns 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 is here ✨
The user can access their V1 assets via https://t.co/eK7nt566DO pic.twitter.com/pGq2UDt8fj
— Floor Protocol (@vloerprotocol) June 24, 2024
The DAO model powers Floor Protocol’s continuous NFT swiping
Floor Protocol is an NFT-Fi liquidity layer based on the FLOOR token. It runs daily checks on the NFT collection floors and earns returns by using these assets in DeFi. The revenue generated is then fed back into the Floor Wars, with the ultimate goal of achieving larger weekly sweeps.
The protocol is based on a DAO model. The DAO aims to create a continuous swiping mechanism, supported by NFT-Fi strategies and proprietary protocol products. The goal of this approach is to provide substantial governance value by granting Sweep Power to FLOOR token holders. This means FLOOR holders can decide which NFT collections they want to swipe and support.
New V2 beta release improves the floor protocol
Similarly, Floor Protocol enhances sweeping and yield earning to facilitate the liquidity and capitalization of NFTs. The same also benefits the NFT ecosystem and also gives FLOOR token the power to vote on the future of the protocol and areas of interest.
This marks good progress for decentralized projects like Floor Protocol and other projects related to the NFT and DeFi realms through the release of the V2 beta. V2 will encourage the progress and success of this unique concept.