FloorDAO is a decentralized NFT market-making protocol. It enables deep, sticky liquidity for all NFT collections contained in the FloorDAO treasury. FloorDAO uses the bond & rebase mechanisms pioneered by OlympusDAO to accumulate productive NFT liquidity, which is then deployed in strategies such as NFTX vaults to generate yield.

FLOOR is an ERC20 token backed by ETH and ETH-denominated NFT assets (eg. NFTX vault positions). The value of FLOOR is determined by a combination of assets owned by the treasury, with a minimum protocol-guaranteed value of 0.001, and a speculative premium on the continued growth of FLOOR. FLOOR must be staked with the FloorDAO protocol in order to receive rebase rewards. Staked FLOOR is represented as sFLOOR and automatically accrues with each rebase.

The primary mechanism with which FloorDAO accumulates liquidity is through "bonding". Users sell single or liquidity providing (LP) assets to the treasury, and in return acquire FLOOR at a discount, vested over a period of time.

FloorDAO will launch with the following assets:

• PUNK (NFTX vault)
• PUNKWETH (Sushi LP position).

Governance will determine additional assets to be accepted by the FloorDAO treasury.