Static routes by default have an Administrative Distance of 1. NSX 6.2.x added the functionality to configure Administrative Distance for static routes.
A floating static route is a backup route which has an Administrative Distance greater than the Administrative Distance of the primary route.
These floating routes is only selected for the routing table when the primary route is unavailable. It is found that when route redistribution is enabled for static routes on an Edge, backup floating static routes are incorrectly preferred to OSPF dynamic routes. The floating routes enters the routing table.