Contract-guaranteed minimum sell-back price. Only goes up.
The floor is the contract-guaranteed minimum sell-back price. On-chain, it can only go up. It maps to the flat bottom segment of the internal curve and is constrained by the Market vault's reserve accounting.
A portion of each trade's fee stays in the contract. When accumulated backing can support a higher floor, the contract raises it. Before any raise, it checks that the contract still has enough funds to cover all tokens. If not, the old floor holds.
There are two sell paths: regular sell prices on the curve; redeemAtFloor exits at the floor. During the frozen-before-graduation window, the Router falls back to floor redemption. If ordinary liquidity is insufficient, the transaction reverts and users can choose the floor redemption path.
At graduation, floor backing becomes a single-sided PancakeSwap V3 buy wall. Contract redemption closes; the buy wall takes over.