BANK token
🏦 Are you ready to become a BANKster, anon?
BANK is a token that serves three purposes:
- 1.To take the profit created in times of excess demand for FLOAT.
- 2.To sometimes support the price of FLOAT in times of too little demand.
- 3.Governs the Float protocol.
In general, BANK's price is affected by stabilisations in the FLOAT price. For instance, if the price of FLOAT is too high, this excess demand is captured and transferred to BANK. Similarly, if the price of FLOAT is too low, BANK is used to support the FLOAT price.
More detail is available in the next section.
Last modified 1yr ago