How it works

Launch

A creator names the coin, adds an image and makes a first buy of about $10 in ETH. The coin's floor price is set at launch and its first coins sell at that price, so nearly all of that payment goes into the floor reserve. All 1,000,000,000 coins start in the pool, so the creator gets none for free.

For the first 3 minutes, an anti-snipe fee sits on top of the trading fee: 30% in the first minute, 20% in the second and 10% in the third. All of it goes to the Floor Wars pot, so a sniper cannot win it back through the coin's own floor. Details: Launching a coin.

Bonding

The first 53% of the supply sells at the floor price set at launch, so those coins are fully backed. After that the price climbs along the pool's curve. When 80% of the supply has sold, the coin bonds: half of everything buyers paid is in the floor reserve and half is in the pool, and on a $50k raise target the floor is about 12.5% of the price. Nothing moves at bonding, so the price does not jump.

Trading

Every trade pays a 1.25% fee, and 0.50% of the amount traded goes into that coin's floor reserve. Fees only ever add to the reserve, so the floor rises as the coin trades. A coin nobody trades keeps the floor it has.

Buys also move floor price × coins bought into the reserve, which backs each new coin at the current floor. Details: Trading and fees.

Selling into the floor

Sellers trade against the pool, and the price falls as they sell. When it reaches the floor, the reserve pays the floor price for the coins offered, and those coins go back into the pool for the next buyer. In its Hardfloor pool, a coin cannot trade below its floor. Details: The floor.

Borrowing (phase 2)

Holders will be able to lock coins and borrow floor price × coins locked, at 0% interest, for up to 90 days. Repay to get the coins back. If you do not repay, you keep the cash and the locked coins are sold when the term ends: the sale pays the loan back, so the floor does not fall, and the profit above the loan buys and burns $FLOOR. There is no oracle and no liquidation price. Details: Borrowing.

Other chains and Floor Wars

• Buy with ETH on Ethereum, Base or Arbitrum in one Relay order, with the coins delivered on Robinhood Chain (phase 1).
• Hold the coin on other chains and sell into its floor from there (phase 3). Both are covered in Any chain.
• Compete in Floor Wars, a weekly pot paid into the floors of the three winning coins (phase 2).