Le Florain

IM-01 3, IM-02 5, IM-03 3, IM-04 5, IM-05 5 (avg 4.2). Nothing is borrowed into existence: a florain exists because a euro was handed over at a counter, and it disappears when a professional reconverts. Supply is fully elastic in both directions, and the contraction leg gets used: about 730,000 of the million florains ever issued have been reconverted. IM-01 is held to 3 because one association is the only issuer, even though the rule it follows is mechanical and open to any member.

SPS-01 3, SPS-02 3, SPS-03 3, SPS-04 5, SPS-05 3, SPS-06 2 (weighted 3.3). The 1:1 rule has held without deviation since October 2017, which is what earns SPS-04 5. The benchmark is the euro and nothing else, and the mechanism is a full euro reserve rather than any index, so nothing above 3 is available on SPS-01 or SPS-02. SPS-06 is 2 because the stability only exists for people inside one French department.

FI-01 1, FI-02 1, FI-03 2, FI-04 1, FI-05 1, FI-06 2, FI-07 1, FI-08 2 (weighted 1.3). This is the honest arithmetic for a currency that is a euro by definition, holds euros as its entire reserve at La Nef, and needs that bank account to honour reconversion. A euro failure has a direct transmission path into every florain balance. FI-08 gets 2 rather than 1 only because the association joined the national Mouvement SOL network in 2021.

TR-01 5, TR-02 4, TR-03 1, TR-04 3, TR-05 2, TR-06 4, TR-07 4, TR-08 3, TR-09 4, TR-10 4, TR-11 4 (weighted 3.0). Real and growing: 220 partner businesses, the City of Nancy signing a convention in August 2025, and 258 accepting shops mapped in OpenStreetMap with 38 of them edited in 2026. The brake is TR-03 at 1, because the only published user figure is 'a little over 300', and TR-05 at 2, because every price in the network is still a euro price.

SO-01 2, SO-02 2, SO-03 2, SO-04 3, SO-05 4, SO-06 3, SO-07 2, SO-08 3, SO-09 1 (weighted 2.2). One French association holds the reserve, the digital ledger and the power to close the system. SO-04 is 3 rather than lower because the paper notes are bearer instruments that need no operator. SO-09 is 1: the rules live in the statutes, and nothing in the technology stops the association changing them.

GO-01 4, GO-02 4, GO-03 3, GO-04 4, GO-05 3, GO-06 2, GO-07 3, GO-08 3 (weighted 3.2). A six-person steering committee is chosen by election without candidates, one member one vote, with published statutes, a charter of values and open working groups. What is missing is any separation between monetary and operational decisions: the general assembly can change the parity rule the same way it changes anything else.

RE-01 3, RE-02 2, RE-03 3, RE-04 5, RE-05 4, RE-06 3, RE-07 3, RE-08 4, RE-09 1 (weighted 2.8). The design is simple enough to explain on one page and the paper leg keeps working with no power or network, which is what carries RE-04 and RE-08. RE-07 is 3 because the association runs on membership dues, grants and about twenty volunteers with two part-time paid staff. RE-09 is 1: joining requires a human membership and a vetting committee.

IN-01 2, IN-02 3, IN-03 3, IN-04 5, IN-05 4, IN-06 3, IN-07 4 (weighted 3.4). IN-04 is the standout at 5: the association takes no seigniorage, 1% of every exchange is donated to a local association, and the reserve makes La Nef lend twice its value back into the same territory. IN-01 is 2 by the plain wording of the band, because the currency is restricted to one geography by design.