ETH chain ecosystem token FLOOP's market cap breaks $5 million, surging over 500% intraday

Odaily Planet Daily reported that according to GMGN data, the market cap of the ETH chain ecosystem token FLOOP briefly surged past $5 million, and is currently reported at $4.09 million, with an intraday increase of over 500%.

FLOOD is a yield-bearing constant product token built on the Uniswap V4 Hook. With a total supply of 50 million tokens, all tokens were deployed at genesis into three single-sided liquidity pools: FLOOD/WETH, FLOOD/USDC, and FLOOD/USDT. There is no team allocation, treasury, or airdrop. Asset reserves generated from user purchases will flow into corresponding Aave v3 markets to generate yield, while transaction fees are retained within the pool to increase reserves and influence the token price.

Odaily reminds users that this token is highly volatile, and investors should be aware of the risks.