Float Protocol Raises $1.2M from Strategic Partners like MCV and LAO to Create a Truly Decentralized, Non-dollar Stablecoin

Float protocol initiated its democratic launch on 7th February 2021 at 10:00 p.m. UTC. The objective of the float protocol was to bring in crypto’s own denomination, a truly decentralized unit of account for the Decentralized Finance economy – #DeFiMoney

Float Protocol had onboarded strategic partners like OxMaki of Sushiswap, Stani Kulechov of Aave, MCV, and the LAO in its treasury diversification round, and managed to raise $1.2 million!

What is Float Protocol?

A truly decentralized and non-dollar stablecoin is one of the most promising sectors in DeFi. That is where FLOAT comes in. It acts as a base pair and an exchange medium. We compare the crypto prices in dollars, and this is why most stablecoins try to be worth $1. Now, if crypto is reforming the financial systems, it is rational if crypto denominates itself in a currency of its own.

This protocol is trying to build the decentralized financial and monetary system of the future. The FLOAT Token was designed to be the first truly native internet currency.

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Strategic Partners Behind this Treasury Diversification Fundraising

Right from Float’s democratic launch, they have been trying to get supporters for the long haul. A few of the strategic partners contributing to this project were:

1. Re7 Capital (provides liquidity into DeFi)
2. OxMaki from Sushiswap
3. Batuhan Dasgin
4. Ivailo Jordanov (7percent Ventures)
5. The LAO (One of the DAOs supporting the blockchain ecosystem)
6. Sergei Chan (BlockScience)
7. Stani Kulechov (Founder and CEO of Aave)
8. Sunil Srivastava ( Founder and CEO of Saddle Finance)

What’s next at Float Protocol?

FLOAT’s goal is to become DeFi money, which is a truly decentralized currency for the crypto economy. The FLOAT Team is making connections like these strategic partners to help reach FLOAT where it wasn’t reachable before. 

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Float Protocol aims towards building the decentralized financial system of the future. The FLOAT Token was designed to be the first non-dollar stablecoin as a medium of exchange, a unit of account, and store of value.

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