A semi-floater axle is one that all the vehicals weight and rotational torque are placed on the outside bearing and axle.
A full-floater axle has a separate bearing assembly on the end of the axle housing to support the weight of the vehical and rotational torque is the only load on the axle shaft. A full floating axle is easy to spot because the bearings protrude through the center of the wheel.
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