The $FLC token is the native currency that powers the Floor Protocol ecosystem. It unlocks and fuels customized platform utilities for all users.
Enabling Safeboxes
By staking $FLC in their Floor Account, users can create personalized Safeboxes to reserve NFTs for custom time periods. Higher $FLC stakes allow longer max durations and greater benefits.
Unlocking VIP Perks
Staking $FLC also determines a user's VIP status tier. Higher tiers unlock exclusive perks tailored to strategies from swift cash-outs to long-term stability and collector retention.
Incentivizing Liquidity Providers
The protocol rewards liquidity providers who add to $FLC and μToken exchange pools with $FLC mining rewards proportional to their share of the pool. These incentives robust liquidity vital for ecosystem growth.
Managing the Treasury Reserve
The protocol treasury accumulates a portion of all $FLC expenditures like fees and bids. These reserves help fund ongoing development, provide collateral, and maintain $FLC value stability.Â
The treasury may also provide Eco-system contributor grants to worthy contributors and projects.
Maintaining Protocol Stability
Random Vault redemptions normally have no fees. But if reserves dip too low, a redemption fees in $FLC applies. This disincentivizes excessive withdrawals during periods of volatility.
In summary, $FLC constructs Floor Protocol's economic framework by incentivizing beneficial platform interactions. This enables a dynamic, utility-driven marketplace.
