Float Protocol and the FLOAT stablecoin - a floating, low-volatility cryptocurrency designed to be true crypto money. Routine "Dutch auctions" maintain FLOAT's short-term market value and reduce volatility, while a basket of cryptocurrencies held by the Protocol support FLOAT's value over the long-term, allowing the currency to gradually change value over time. This enables users to maintain their purchasing power independent of the fiat market, while transacting freely without concerns of short-term speculation and market volatility, thus providing a crypto-native unit of account.
