Introduction and methods

FloorDAO is a decentralized NFT market-making protocol. It enables deep, sticky liquidity for all NFT collections contained in the FloorDAO treasury. FloorDAO uses the bond & rebase mechanisms pioneered by OlympusDAO to accumulate productive NFT liquidity, which is then deployed in strategies such as NFTX vaults to generate yield.

FLOOR is an ERC20 token backed by ETH and ETH-denominated NFT assets (eg. NFTX vault positions). The value of FLOOR is determined by a combination of assets owned by the treasury, with a minimum protocol-guaranteed value of 0.001Ξ, and a speculative premium on the continued growth of FLOOR.

New FLOOR is minted when FLOOR is greater than backing, which results in a "rebase" of new tokens following the current APY inflation, distributed every 8 hours to staked FLOOR and/or when eligible assets are “bonded” to the FloorDAO treasury, which sells new tokens to the bonder at a discount.

In this dashboard we are gonna investigate what users have been doing with their FLOOR tokens over the past 90 days. We will try to evaluate their staking actions as well as if they are swapping FLOOR for other tokens or getting it from others. Finally, we will analyze if the rebase rewards received from staking FLOOR are enough to incentivize users to continue staking.

Results

Looking at the first chart, we can see how the staking activity decreased over time. Since the beginning, the amount of stakers seems to be higher than the amount of unstakers, what is a good sign. However, as said, the activity decreased over time what is a bad sign. The same occurs with the amount of active users, if we take a look at the third image, a similar trend is generated.

Looking at the cumulative numbers, it can be seen how during April and May, the growth of both transactions and users was constant in both directions, however, during June, the curve has been smoother. Here it can be seen as well how the amount of staking actions and the amount of stakers has been higher than the unstaking and unstakers amounts respectively.

Finally, in this charts we can see as well the rebase actions. It seems like the amount of rebase actions increased over time. While during the first month a few rebase actions were done, it seems like now it happens at least once a day.

Going deeper with staking actions, in this chart it can be seen how there is a positive correlation between staking and unstaking actions, what represents that when the staking activity increased, the unstaking activity increased as well.

Conclusions and insights

In this dashboard we have investigated about the FLOOR token. In this case, we have tracked the staking and swapping activity in terms of numbers and evolutions. The main insights extracted are:

• The staking activity decreased over time.
• Since the beginning, the amount of stakers seems to be higher than the amount of unstakers, what is a good sign.
• There is a positive correlation between staking and unstaking actions.
• The amount of rebase actions increased over time. While during the first month a few rebase actions were done, it seems like now it happens at least once a day.
• The swapping activity decreased over time.
• There are more users swapping from other tokens to FLOOR than swapping FLOOR for other tokens.

Regarding swapping activity, we can see how the activity also decreased over time. The main drop can be found since May. Again, there are more users swapping from other tokens to FLOOR than swapping FLOOR for other tokens, then more users are getting FLOOR than selling them. It is a good signal for the token performance.