Track Bank (BANK) — Live Price & Historical Data

What is Bank?

Bank is the native governance token of Float Protocol, a decentralized finance project that launched in mid-2021 with a novel dual-token architecture designed to create a floating, low-volatility crypto-native currency. The protocol was built by a small pseudonymous team of developers who coordinated through a DAO structure from the earliest days, distributing Bank to community members who participated in the 'Phase 1' yield farming programs across Yearn, Sushi, and other DeFi ecosystems. Bank serves as the governance and value-capture asset, while FLOAT is the protocol's floating stablecoin whose price is algorithmically targeted to a basket rather than a hard peg, making the system distinct from Maker's DAI or Terra's former UST model. Holders of Bank direct treasury allocations, adjust auction parameters, and vote on protocol upgrades through on-chain proposals, giving the token a direct utility tied to the economic engine rather than purely speculative demand. Float Protocol gained attention during the 2021 algorithmic stablecoin wave for its unusual fair-launch approach — there was no venture capital allocation, no team premine beyond a modest development fund, and the initial supply was distributed entirely through liquidity mining to existing DeFi participants. The protocol uses periodic Dutch auctions to expand or contract FLOAT supply, and Bank holders either absorb system debt during contractions (in exchange for future rewards) or receive excess value during expansions, aligning governance incentives with protocol solvency. Notable integrations have included listings on Uniswap V2 and V3 as the primary liquidity venue, and the token trades on several centralized exchanges including Gate.io and MEXC, though it is not currently listed on Binance's spot market. The broader ecosystem has faced the same challenges as other algorithmic stablecoin projects following the May 2022 Terra collapse, which cooled investor appetite for non-fully-collateralized stable assets and pressured Bank's market capitalization significantly from its early-2021 highs. Despite this, the project has continued operating without major security incidents, and its DAO treasury remains active, with governance forums hosting ongoing discussions about parameter adjustments and potential protocol extensions. The Bank token is ERC-20 based, lives on Ethereum mainnet, and has contract address verifiable through Etherscan, with audits conducted by firms including Quantstamp during the initial launch phase. Controversies around Bank have been relatively limited compared to peers — no exploits, no rug pulls, no major governance attacks have been publicly documented — though critics have pointed out that trading volume and active governance participation have declined substantially as DeFi narratives shifted toward liquid staking, restaking, and real-world assets. For users researching Bank price action, it's worth noting that the token's thin liquidity profile makes it sensitive to relatively small buy or sell orders, and price discovery happens primarily on decentralized venues rather than deep centralized order books. The name 'Bank' is shared by several unrelated crypto projects including Bankless DAO's BANK token, so verifying the correct contract address before any transaction is essential to avoid confusion between assets that appear under similar tickers on aggregators like CoinGecko and CoinMarketCap.

Key Features of Bank

• On-Chain DAO Governance: Bank holders can submit and vote on proposals that directly modify Float Protocol parameters, including auction frequency, target basket composition, and treasury deployment. Voting weight is proportional to Bank held or delegated, and execution happens through a timelocked smart contract for security.
• Debt Auction Participation: When the protocol needs to contract FLOAT supply, Bank is minted and auctioned to absorb system debt, and participants who buy this debt receive future protocol revenue. This mechanism gives Bank a unique recapitalization role that pure governance tokens lack.
• Surplus Value Capture: During supply expansions when FLOAT trades above target, excess value flows to Bank holders through buy-and-burn or direct distribution mechanics voted on by the DAO. This creates a direct link between protocol usage and token holder returns, rather than relying solely on speculative demand.
• Fair-Launch Distribution: Bank was distributed entirely through public liquidity mining with no VC allocation, insider premine, or private sale tranches. This distribution model is rare among DeFi governance tokens and has historically attracted holders who prioritize decentralized ownership.
• Ethereum-Native Composability: As an ERC-20 token on Ethereum mainnet, Bank integrates seamlessly with Uniswap, 1inch aggregators, multisig wallets like Safe, and standard DeFi infrastructure. Holders can use it as collateral or pair it in liquidity pools wherever protocols accept standard tokens.

Bank Use Cases

• Protocol Governance Voting: Long-term Bank holders use the token to shape Float Protocol's economic parameters, including how aggressively the system responds to FLOAT price deviations. Active governance participants often join Discord and forum discussions before casting on-chain votes.
• Liquidity Provision on Uniswap: Users pair Bank with ETH or USDC on Uniswap V3 to earn trading fees from the token's spot volume. Concentrated liquidity positions allow more capital-efficient fee generation for providers willing to actively manage their ranges.
• Arbitrage Around Auctions: Traders monitor Float Protocol's auction schedule and bid strategically when Bank is minted at a discount during debt events, profiting when secondary market prices converge back to fair value. This requires understanding the smart contract auction mechanics in detail.
• Treasury Diversification for DAOs: Other DAOs interested in governance of stable-asset infrastructure have held Bank as part of diversified crypto treasuries. This is common among funds and collectives seeking exposure to algorithmic stablecoin primitives without direct FLOAT exposure.
• Long-Term Speculation on DeFi Revival: Investors who believe algorithmic stablecoins will see a second wave of adoption accumulate Bank at depressed valuations as a call option on that thesis. The thin liquidity means position sizing must be careful to avoid significant slippage.

Bank Tokenomics

Total Supply

Bank has a capped maximum supply established at launch, with additional issuance only possible through governance-approved debt auctions designed to recapitalize the protocol during FLOAT contractions. Dynamic — see CoinGecko for live figures.

Circulating

Circulating supply reflects tokens distributed through the 2021 liquidity mining phases plus any auction issuance since then, minus any tokens removed through buy-and-burn governance decisions. Dynamic — see CoinGecko for live figures.

Utility

Bank's primary utilities are DAO governance voting, absorbing protocol debt during FLOAT supply contractions, and capturing surplus value during expansions. It is not required for using the protocol as an end user but is essential for anyone wanting a stake in its economic direction.

Emission

Initial emissions were front-loaded through the Phase 1 liquidity mining program and have since tapered, with new Bank entering circulation only via debt auctions when protocol conditions require it. This makes the emission schedule state-dependent rather than following a fixed inflation curve.

How to Buy Bank

1. 1

   1. Create a Binance account

   Go to binance.com and complete registration with your email or phone number. Pass identity verification (KYC) by uploading a government ID and completing the facial verification step in the 'Identification' section of your account dashboard, which unlocks higher deposit and withdrawal limits.

2. 2

   2. Deposit funds to Binance

   From the 'Wallet' menu, select 'Fiat and Spot' and choose 'Deposit' to fund your account via bank transfer, card, or P2P trading. Alternatively, deposit USDT or ETH from an existing wallet by copying the Binance deposit address for the correct network and confirming the transaction on-chain.

3. 3

   3. Swap to USDT or ETH

   Because Bank is not listed directly on Binance spot markets, convert your balance to USDT or ETH on the Binance 'Convert' or 'Spot' trading interface. These assets will be used to bridge to a decentralized exchange where Bank actually trades.

4. 4

   4. Withdraw to a self-custody wallet

   Set up MetaMask or another Ethereum-compatible wallet, then go to 'Withdraw' in Binance, select ETH or USDT on the Ethereum network, and paste your wallet address. Double-check the network selection to avoid losing funds, and account for Ethereum gas fees before confirming the withdrawal.

5. 5

   5. Swap for Bank on Uniswap

   Connect your wallet to app.uniswap.org, paste the verified Bank token contract address from the official Float Protocol documentation or CoinGecko, and execute a swap from ETH or USDT. Set slippage tolerance appropriately given Bank's thin liquidity, and confirm the transaction in your wallet.

Frequently Asked Questions