Floor Protocol, the pioneer behind BT404, the world’s first NFT index that allows 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.
DAO Model Powers Floor Protocol’s Continuous NFT Sweeping
Floor Protocol is an NFT-Fi liquidity layer that is based on the FLOOR token. It performs daily sweeps of NFT collection floors and earns yield by putting these assets to work in DeFi. The generated yield is then fed back to the Floor Wars, the ultimate goal being to achieve larger weekly sweeps.
The protocol is based on a DAO model. The DAO aims to create a continuous sweeping mechanism backed by NFT-Fi strategies and protocol-owned 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 to sweep and support.
New V2 Beta Release Advances Floor Protocol
Similarly, Floor Protocol enhances the sweeping and yield-earning to facilitate the fluidity and capitalization on NFTs. This same thing also benefits the NFT ecosystem and also gives FLOOR token the power to vote on the future of the protocol as well as areas of interest.
This marks a good progress for decentralized projects such as Floor Protocol and other projects tied to the realms of NFT and DeFi through the release of the V2 beta. V2 will encourage the advancement and success of this unique concept.
