Floor-backed bonding curves aren't new — Tuna did zero-loss exits with 60-min lockups back in December — but bolting a lending layer on top changes the game theory entirely. Instead of panic-redeeming at floor and draining the reserve pool, holders borrow against their floor collateral and stay exposed to upside, which in theory reduces cascading sell pressure at the exact moment it matters most. Smart mechanism design, but the second-order question nobody's asking: if a token trends toward floor and most holders have already borrowed against it, who's left to absorb the bad debt when those loans go underwater? With only ~13k followers at launch, the real stress test hasn't happened yet — floor protection is easy to promise when inflows exceed redemptions.

Top comment by @Benthic