We consider the problem of solving floating-point constraints obtained from software verification. We present UppSAT -an new implementation of a systematic approximation refinement framework [24] as an abstract SMT solver. Provided with an approximation and a decision procedure (implemented in an off-the-shelf SMT solver), UppSAT yields an approximating SMT solver. Additionally, UppSAT yieldsincludes a library of predefined approximation components which can be combined and extended to define new encodings, orderings and solving strategies. We propose that UppSAT can be used as a sandbox for easy and flexible exploration of new approximations. To substantiate this, we explore several approximations of floating-point arithmetic. Approximations can be viewed as a composition of an encoding into a target theory, a precision ordering, and a number of strategies for model reconstruction and precision (or approximation) refinement. We present encodings of floating-point arithmetic into reduced precision floating-point arithmetic, real-arithmetic, and fixed-point arithmetic (encoded into the theory of bit-vectors in practice). In an experimental evaluation we compare the advantages and disadvantages of approximating solvers obtained by combining various encodings and decision procedures (based on existing, state-of-the-art SMT solvers for floating-point, real, and bit-vector arithmetic).The first form of approximation uses floating-point operations of reduced precision, i.e., with a reduced number of bits for the significant and exponent. Approximations of this kind have previously been studied in [23,24], and found to be an effective way to boost the performance of bit-blasting-based SMT solvers, since the size of FPA circuits tends to grow quickly with the bit-width. The change of the actual formula lies in decreasing the number of bits used for each variable and operator.Example 2. We assume reduction to the floating-point (3, 3) format, i.e., the format in which 3 bits are used for the significant, and 3 bits for the exponent. The approximate formulaφ 3,3 is obtained by replacing the variables x and y with re-typed variants x 3,3 , y 3,3 , casting all floating-point literals to the new format, and replacing the addition operator + and comparison predicate ≤ with the operator + 3,3 and the predicate ≥ Even thoughφ 3,3 is satisfiable the models are not guaranteed models for the original formula, but only satisfies the reduced precision formula because of over/under-flows and rounding errors when working with only three precision and three significand bits. For example,m = {x → 2.0, y → 4.0}), satisfieŝ φ 3,3 because 2.0 3,3 + 3,3 1.75 3,3 = 4 3,3 .