Monolithic GaN power IC has been regarded as the ultimate solution to unlock the full potential of the wide bandgap GaN technology for next-generation high-speed, high-efficiency and high-density power circuits. However, with scarce power device options, the current development of monolithic GaN power ICs faces severe design challenges. A critical example can be found in the design of one of the most important circuit modules – the voltage level shifter, which is the enabler to drive any kind of high-side power switch in a power circuit. To overcome this challenge, this paper proposes a new circuit structure and a novel operation concept of a dynamic floating voltage level shifter to reduce propagation delays, improve dynamic slew rates and attain superb dv/dt noise immunity for both speed and reliability improvements. Implemented on a 200V, 180nm, n-type only, GaN-on-SOI process, the proposed voltage level shifter only occupies a die area of 0.12mm2 and achieves 2.81ns rising and 3.44ns falling propagation delays at room temperature with a slew rate of 100V/ ns.