FLOAT$FLOAT
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Specification

Mechanics

The full specification of a coverage position: registration, the tier table, the premium formula, the qualifying event, settlement, reserve accounting and the solvency cap. Every formula is written so a reader can recompute it from the published oracle. There is no marketing copy on this page.

Registration

Coverage starts with an existing Uniswap v4 position on a supported pool. FLOAT does not custody the position; the LP NFT stays in your wallet. Registration is a read of your range bounds and a notional amount.

registerPosition(
  poolId,          // the v4 pool key hash, must be a supported pool
  tickLower,       // lower bound of the range
  tickUpper,       // upper bound of the range
  notionalUSDG     // position value at registration, denominated in USDG
)
setTier(positionId, tier)     // 25, 50 or 100

If you withdraw liquidity or move your range without updating the registry, your coverage may not match your actual position. Keeping the registration current is the LP's responsibility.

Tier table

TierMaximum payoutPremium scaling
Tier 2525 percent of notionalUSDG0.25 x base premium
Tier 5050 percent of notionalUSDG0.50 x base premium
Tier 100100 percent of notionalUSDG1.00 x base premium

Premium pricing

The premium contract reads the 30-day realized volatility for the pool from the volatility feed, multiplies by the base curve, and scales by tier and notional. The output is quoted as an annualized rate and collected every 30 days.

vol30      = realizedVolatility(poolId, 30 days)      // from the public feed
rateAnnual = baseCurve(vol30) x tier / 100
premium30d = notionalUSDG x rateAnnual / 12

// worked example: Tier 50 on a pool at 80% annualized vol
rateAnnual = 6.0% per year
premium30d = 0.5% of position value every 30 days

Premium is deducted from the swap fees the position accrues. You do not send a separate payment. If fees are insufficient, the premium is partially collected and coverage is partially active for that period; the LP can top up in USDG or let coverage lapse. If a position is not earning fees at all, no premium is collected and coverage does not start. The quote is recomputable from public inputs at any block.

The volatility feed is a public on-chain data source. It is not manipulation-proof. If a pool's price is manipulated, the feed can be distorted. The TWAP rule below reduces the impact of short spikes; it does not remove the limitation.

Qualifying event

The claims contract computes a 60 minute time-weighted average price for the pool. If that TWAP is outside [tickLower, tickUpper], the first checkpoint is marked. The contract then checks three consecutive 20 minute windows.

twap60   = TWAP(poolId, 60 minutes)
outside  = twap60 < price(tickLower) or twap60 > price(tickUpper)

checkpoint[n]   every 20 minutes
claimable       = outside at checkpoint[n], [n+1] and [n+2]
reset           = twap60 back inside the range at any checkpoint

This pays for range breaks, not for wicks. A one minute spike does not trigger a claim.

Settlement

actualLossUSDG = value(position, entry) - value(position, twap at final checkpoint)
                 - feesEarned(window)
payout         = min(tier / 100 x notionalUSDG, actualLossUSDG)
payout         = min(payout, availableReserves)      // the remainder queues

Actual loss is measured from your entry price to the TWAP at the final checkpoint, using the same token amounts you deposited. Payout is made in those tokens. If actual loss is less than the tier cap, you are paid the actual loss; if it is more, you are paid the cap.

Claims queue

If reserves are insufficient at settlement, the claim enters a pro-rata queue and is paid from the next premium inflows. Queue position is by settlement time, and each claim receives its share of each inflow until paid. The queue is public and every payment has a tx hash.

Reserve accounting and the solvency cap

premium inflow  ->  70% reserve pool
                    20% staked $FLOAT stream
                    10% protocol treasury

solvencyRatio   = totalReserves / totalOutstandingCoverage
newCoverage     allowed only while solvencyRatio >= 1.25 after the write

The reserve pool holds a mix of USDG and supported pool tokens, contributed by premiums and by the 30 percent token allocation for reserve seeding, which is released as coverage is written rather than upfront. The 1.25x cap is enforced on new coverage only. It is a brake, not a guarantee: a large enough cluster of claims can still exhaust reserves, which is why the queue exists and why the ratio is published before you deposit.

Token flows

No transfer tax, no buy tax, no sell tax. No burn and no buyback. Supply is fixed at 1,000,000,000. The only token flows are the premium split, the staking stream and treasury spends, all published on-chain.

Security

No audit has been completed or published at this time.

When one is completed it will be linked here with the report and the commit it covers. Until then, treat the contracts as unaudited and size accordingly.

What is fixed and what governance can touch

The contracts are non-upgradeable per position: a coverage contract's payout formula cannot be changed after registration. Governance can add pools and adjust the base premium curve, and nothing else. It cannot change supply, the 70/20/10 split or the tier caps. Any future change to those would require a new deployment, announced before it happens.

There is no admin function that can move user principal. There is no upgrade proxy that can change the payout formula for a registered position. FLOAT never custodies your LP NFT.

Contract layout

ContractDoes
Coverage registryStores position bounds, notional and tier. registerPosition and setTier.
Premium and reserveQuotes premium from the volatility feed, deducts from accrued fees, splits 70/20/10, enforces the 1.25x cap on new coverage.
Claims settlementEvaluates the 60 minute TWAP and three consecutive 20 minute checkpoints, computes min(tier x notional, actual loss), queues pro-rata payouts.
Volatility feed readerReads 30-day realized volatility per supported pool and exposes it for quoting and public recomputation.

Separation limits what a single bug can touch, but it does not eliminate risk.

Known limitations

  • The 1.25x solvency cap applies to new coverage. It is not a guarantee that existing coverage is fully backed. The reserve pool can be depleted.
  • The volatility feed is a public on-chain data source and is not manipulation-proof. A sustained manipulation could affect outcomes. This is a known limitation, not a hidden one.
  • Coverage is only available on pools listed as supported. A pool on Robinhood Chain is not covered because it exists.
Tokenomics

$FLOAT

Supply: 1,000,000,000 $FLOAT, fixed. No mint function after deployment. Contract 0x7c4e2a91b0f36d58c1e4a7f9d2b8c05e6a31a913 on Robinhood Chain.

AllocationShareTerms
Reserve pool seeding30%Backs claims. Released as coverage is written, not upfront.
Liquidity25%Paired with USDG on Robinhood Chain. Locked for 12 months, then released on a linear schedule.
Community and no-claim credits20%Funds the 15 percent no-claim credit stream and future LP incentive programs. Vested over 90 days per credit.
Treasury15%Protocol treasury. Also receives 10 percent of premium inflow. Spends are published on-chain.
Contributors10%12 month cliff, 24 month linear vest. No tokens move before the cliff.

Taxes

No transfer tax. No buy tax. No sell tax. Swaps on the $FLOAT pair are subject to the DEX pool fee only.

Fee use

Premium inflow splits 70 percent to the reserve pool that backs claims, 20 percent to staked $FLOAT as a claim on future premium, 10 percent to the protocol treasury. There is no buyback, no burn, and no dividend of stock tokens.

What the token is

$FLOAT is not a claim on reserves and not a dividend. Staking gives a share of the 20 percent premium stream, which is a claim on future premium, not a fixed yield. If premium inflow is low, the stream is low. Stakers vote on adding pools and adjusting the base premium curve; they cannot change supply, the split, or the payout formula of registered positions.

Roadmap

What ships, in order

Four phases from launch. Each phase is gated on the previous one running, not on a date. Offsets are from launch day. If a deliverable slips, the site changelog says so.

  1. Phase 1 · day 0

    Coverage live

    • registerPosition and coverage tier contracts deployed on Robinhood Chain
    • Coverage calculator live with premium quotes from the volatility feed
    • Solvency ratio dashboard public with block-level links
    • First supported pools open: stock token / USDG, ETH / USDG, meme / USDG
    • Claims ledger live with every settled claim and tx hash
  2. Phase 2 · day 30

    Pool expansion and staking

    • $FLOAT staking live with the 20 percent premium share streaming to stakers
    • Governance for adding new pools and adjusting the base premium curve
    • No-claim credit vesting stream live for LPs who never claim
    • Second wave of supported pools, added pool by pool, each announced before it opens
  3. Phase 3 · day 90

    Claims queue and reporting

    • Pro-rata claims queue live for settlements where reserves are insufficient
    • Public premium inflow and reserve history chart with downloadable data
    • Independent review of the volatility feed methodology published
    • Position-level coverage history for every registered LP
  4. Phase 4 · day 180

    Coverage surface

    • Additional coverage tiers beyond Tier 25, Tier 50 and Tier 100, if governance approves
    • Coverage for positions on additional v4 hook configurations, added pool by pool
    • Public API for reading solvency, premium and claim data
    • Governance review of the base premium curve using realized claim data
    • The audit, linked here with the report and the commit it covers
Whitepaper

FLOAT: range cover for LPs on Robinhood Chain

Seven chapters. The mechanics, roadmap and FAQ chapters of the whitepaper are the sections above and below on this page.

What FLOAT is

FLOAT is a peer-funded payout pool for liquidity providers on Robinhood Chain. It is a coverage protocol, not a yield farm and not a vault. When you provide liquidity to a Uniswap v4 range, your position earns swap fees while the price sits inside your chosen band. When the price leaves that band, your position stops earning and starts converting into the weaker side of the pair. That conversion is the loss FLOAT is built to refund.

You open a range on a supported pool, register it with FLOAT, and pay a premium from the fees that position is already earning. The premium is quoted from a public on-chain volatility feed, so the number you see is the output of a formula you can recompute. If the pool's 60 minute TWAP exits your range and stays out for three consecutive 20 minute checkpoints, the FLOAT reserve pool pays your loss in the same tokens you deposited, capped at your coverage tier.

The reserve pool is funded by premiums from other LPs, seeded by the FLOAT token allocation described in the tokenomics chapter, and topped up by the 70 percent premium share. Solvency is public before you deposit. There is no floor, no fixed yield, and no promise that reserves will always be sufficient. When they are not, claims queue pro-rata against future premium inflow.

FLOAT does not custody your position. Your LP NFT stays in your wallet. Registration is a read of your range bounds and a notional amount. The protocol never moves your principal.

How a position gets covered

Coverage starts with a range. You pick a pool that FLOAT supports, choose a lower and upper tick, and deposit your liquidity as you normally would. Then you call registerPosition with the pool id, your tick bounds, and a notional amount denominated in USDG. You pick a tier: Tier 25, Tier 50, or Tier 100. The tier sets the maximum payout as a percentage of notional.

The premium contract reads the 30 day realized volatility for that pool from the volatility feed and quotes a premium. The premium is deducted from the swap fees your position accrues. You do not send a separate payment from your wallet. If your position is not earning fees, the premium is not collected and coverage does not start. This keeps the system honest: coverage is paid for out of the yield the position is already producing.

Once registered, the claims contract watches the pool. It computes a 60 minute time weighted average price. If that TWAP is outside your range, the first checkpoint is marked. The contract then checks three consecutive 20 minute windows. If all three keep the TWAP outside your range, the position is claimable. If the price returns inside at any checkpoint, the counter resets.

When a claim is valid, the contract computes min(tier times notional, actual loss). Actual loss is measured from your entry price to the TWAP at the final checkpoint, using the same token amounts you deposited. The payout is made in those tokens. If reserves cover it, it settles immediately. If not, it enters the pro-rata claims queue described in the roadmap.

The pool, running

The reserve pool is the part of FLOAT that pays claims. It holds a mix of USDG and supported pool tokens, contributed by premiums and by the 30 percent token allocation for reserve seeding. The seeding allocation is released as coverage is written, not upfront, so the pool grows with the book it backs.

Every premium inflow splits three ways. Seventy percent goes to the reserve pool. Twenty percent streams to staked FLOAT as a claim on future premium. Ten percent goes to the protocol treasury. There is no buyback, no burn, and no dividend of stock tokens. The split is enforced in the premium contract and every transfer is visible on chain.

The solvency ratio is total reserves divided by outstanding coverage. The premium contract enforces a 1.25x cap: new coverage cannot be written if it would push the ratio below 1.25. That cap is a brake, not a guarantee. A large enough cluster of claims can still exhaust reserves, which is why the claims queue exists and why the ratio is published before you deposit.

The volatility feed reads 30 day realized volatility per supported pool and exposes it for premium quoting. Anyone can recompute a quote from the same inputs. The feed is a public data source, not a manipulation-proof oracle. If a pool's price is manipulated, the feed can be distorted. FLOAT mitigates this with TWAP-based claim checks and a 60 minute observation window, but it does not claim the feed is immune to manipulation.

Reserve history, premium inflow, and every settled claim are published with block-level links. The dashboard is the source of truth, not this document.

$FLOAT

FLOAT has a fixed supply of 1,000,000,000 tokens. There is no mint function after deployment. Supply does not change. There is no transfer tax, no buy tax, and no sell tax. Swaps on the FLOAT pair are subject to the DEX pool fee only.

The distribution is fixed at deployment. Thirty percent goes to reserve pool seeding, released as coverage is written rather than upfront. Twenty five percent goes to liquidity, paired with USDG on Robinhood Chain, locked for 12 months and then released on a linear schedule. Twenty percent funds community programs and the 15 percent no-claim credit stream, vested over 90 days per credit. Fifteen percent goes to the protocol treasury, which receives 10 percent of premium inflow and publishes its spends on chain. Ten percent goes to contributors with a 12 month cliff and a 24 month linear vest. No contributor tokens move before the cliff.

FLOAT is not a claim on reserves. It is not a dividend. Staking FLOAT gives you a share of the 20 percent premium stream, which is a claim on future premium, not a fixed yield. If premium inflow is low, the stream is low. If claims are high, the reserve share grows and the staking share does not change, because the split is fixed at 70/20/10.

The token exists to align the people who fund coverage with the people who use it. Stakers vote on adding new pools and adjusting the base premium curve. They cannot vote to change the supply, the split, or the payout formula for already-registered positions. Those are fixed in the contracts.

Get $FLOAT

FLOAT trades on Robinhood Chain. The contract address is 0x7c4e2a91b0f36d58c1e4a7f9d2b8c05e6a31a913. Always verify the address against the one published on the FLOAT site and in the official Telegram before you swap. There is no presale and no private round open to the public.

To buy, use a wallet that supports Robinhood Chain, bridge or deposit USDG if you need it, and swap on the official FLOAT pair. The pair is FLOAT against USDG. Any other pair is not official. Check the pool address on the site before you trade.

To use coverage, you do not need to buy FLOAT. You need a Uniswap v4 position on a supported pool. Register it, pick a tier, and let the premium come out of your fees. FLOAT the token is for staking into the premium stream and for governance, not for accessing coverage.

To stake, wait for phase 2. The staking page is a placeholder until then. It describes the 20 percent premium share and takes a waitlist. Do not send tokens to any address claiming to be staking before that page goes live.

If you are unsure whether a pool is supported, check the supported pools list in the FAQ below. Coverage is not available on pools that are not yet supported. Do not assume a pool is covered because it is on Robinhood Chain.

Security

FLOAT has not completed an audit. When an audit is completed and published, this chapter will name the auditor and link the report. Until then, no audit claim is made. The contracts are deployed with the functions described in this document and nothing else.

The coverage registry, premium and reserve, claims settlement, and volatility feed reader are separate contracts. The registry stores position bounds and tier. The premium contract quotes and splits. The claims contract evaluates TWAP and checkpoints. The feed reader exposes volatility. Separation limits what a single bug can touch, but it does not eliminate risk.

The 1.25x solvency cap is enforced on new coverage. It is not a guarantee that existing coverage is fully backed. A cluster of claims can push the ratio below 1.25 after the fact, which is why the claims queue exists. The reserve pool can be depleted. FLOAT does not claim otherwise.

The volatility feed is a public on-chain data source. It is not manipulation-proof. Claim checks use a 60 minute TWAP and three consecutive 20 minute checkpoints to reduce the impact of short spikes, but a sustained manipulation could still affect outcomes. This is a known limitation, not a hidden one.

There is no admin function that can move user principal. There is no upgrade proxy that can change the payout formula for a registered position. Governance can add pools and adjust the base premium curve. It cannot change supply, the 70/20/10 split, or the tier caps. Any future change to those would require a new deployment, which would be announced before it happens.

Risk and terms

FLOAT is not an investment product. Nothing in this document is financial advice. Coverage is a payout pool funded by premiums, and it can be insufficient. You can pay premiums and still not receive a full payout if reserves are exhausted and the claims queue is long.

Coverage is not insurance. It is not regulated as insurance in any jurisdiction. There is no guarantor, no reinsurer, and no government backstop. The reserve pool is the only source of payouts, plus the pro-rata queue against future premium inflow.

Premiums are quoted from a public volatility feed. The quote is a formula output, not a promise. It can change as the feed changes. A higher volatility reading means a higher premium. A lower reading means a lower premium. Neither reading guarantees a payout.

FLOAT does not custody your LP position. You keep the NFT. If you withdraw liquidity or move your range without updating the registry, your coverage may not match your actual position. You are responsible for keeping the registration current.

Supported pools are listed on the site. Coverage is not available on pools that are not yet supported. Do not assume coverage on any pool that is not on that list. The list is updated pool by pool, each announced before it opens.

Tax treatment of premiums, payouts, and staking rewards depends on your jurisdiction. FLOAT does not provide tax advice. Consult a qualified professional.

Docs FAQ

The long answers

Is FLOAT a vault?
No. FLOAT does not custody your position and does not promise a floor. It is a payout pool funded by premiums. Your LP NFT stays in your wallet; registration reads your range bounds and a notional and nothing else.
Do I need to buy $FLOAT to get coverage?
No. You need a Uniswap v4 position on a supported pool. Premium comes out of your fees. $FLOAT the token is for staking into the 20 percent premium stream and for governance.
How is premium computed for my pool?
The feed reader exposes 30-day realized volatility for the pool. The premium contract applies the base curve, scales by your tier (0.25, 0.50 or 1.00) and your notional, quotes an annual rate and collects a twelfth of it every 30 days from accrued fees. Example: Tier 50 on a pool at 80 percent annualized vol quotes 6.0 percent per year, collected as 0.5 percent of position value every 30 days. The same inputs are public, so anyone can recompute the quote at any block.
What happens to a position that lapses?
If accrued fees do not cover the premium for a period and no USDG top-up is made, the premium is partially collected and coverage is partially active for that period, then lapses. A lapsed position is not covered for events after the lapse. Re-registering restarts the checkpoint counter from zero.
What happens if reserves run out?
Claims queue pro-rata against future premium inflow. Queue position is by settlement time, each claim receives its share of each inflow until paid, the queue is public and every payment has a tx hash. FLOAT does not claim reserves can never be depleted.
Is the volatility feed manipulation-proof?
No. It is a public on-chain data source. Claim checks use a 60 minute TWAP and three consecutive 20 minute checkpoints to reduce the impact of short spikes, but sustained manipulation is a known limitation.
How does the no-claim credit vest?
An LP whose covered position never files a claim receives 15 percent of the premium it paid back as $FLOAT, streamed linearly over 90 days from the end of the coverage period. It is funded from the 20 percent community allocation, not from reserves. It goes live in phase 2.
What can governance change, and what can it not?
Stakers can vote to add supported pools and to adjust the base premium curve. They cannot change the supply, the 70/20/10 split, the tier caps, or the payout formula of any registered position. Those would need a new deployment, announced before it happens.
Which pools are supported today?

Only the pools in this table. The list grows pool by pool, each announced before it opens. Sample values are shown until the contract is live.

Pool30d realized volTier 50 premium, annual
ETH / USDG80%6.0%
stock / USDG55%4.1%
meme / USDG140%10.5%
Has FLOAT been audited?
Not yet. When an audit is completed and published, the security section will name the auditor and link the report. Until then, no audit claim is made.
Is there a fixed yield?
No. Staking $FLOAT gives a share of the 20 percent premium stream. If premium inflow is low, the stream is low. There is no minimum payout and no fixed yield.
Where do I verify numbers?
The solvency dashboard and claims ledger, both with block-level links. Post-launch figures such as holders (1,120), 24 hour volume ($214,000), market cap ($1.9M) and the contract 0x7c4e2a91b0f36d58c1e4a7f9d2b8c05e6a31a913 are published there and on the official Telegram. Always verify the contract address before you trade.