Bullish on non-pegged stablecoins like FLOAT but want more of the upside? Heard about BANK and want to load up?
You can obtain slippage free BANK via the Dutch Auctions held by the Protocol at least two times a day, here is a quick rundown:
In the event that the market price of FLOAT is below target price and the Basket of the Protocol is not well supported the Protocol needs to mint new BANK to help support the Basket during a contraction. This situation is specifically known as a down contraction case.
You can obtain this newly minted BANK via the Dutch Auction.
🎁 Purchase FLOAT from the market.
✅ Sell the FLOAT to the Protocol via the Dutch Auction at a profitable price relative to the market.
💰 Receive WETH and BANK from the Protocol slippage free.
(🏦 ,🏦 ) Convert the WETH received for BANK on the open market (subject to DEX slippage).