Review FTX Token ($FTT) – TOP 1 potential exchange token?

FTT (FTX Token) is a token that serves as the backbone of the FTX ecosystem. The token is intricately designed to increase network effects and demands for the token, while also helping to decrease its circulating supply. FTT is a Utility Token, also a Native Token used in FTX Exchange, it has two versions in ERC-20 (Ethereum) and SPL (Solana).

 

What is FTX Token (FTT)?

FTX Token (FTT) is the exchange token of the FTX ecosystem and will serve as collateral for futures positions, getting discounts on trading fees, receiving OTC rebates, and more. The FTX trading platform provides leveraged tokens, OTC, and futures trading, and plans to become the top crypto derivatives exchange in the blockchain world. FTT is the utility token for the big international crypto derivatives exchange, FTX, which has attracted a lot of attention recently. FTX customers can use the token to reduce fees and earn interest. But if you’re not an FTX customer, does it make sense to buy the coin? Here are some things to bear in mind.

Outstanding Features

What is the project trying to achieve?

FTX is a cryptocurrency derivatives exchange that offers futures, leveraged tokens, and OTC trading. Currently, futures exchanges have many crippling flaws holding the space back. Our mission is to solve these problems and move the derivatives space toward becoming institutional grade. We launched FTX in April and already have among the world’s most liquid order books.
FTX futures have traded more than $100m per day recently, and FTX OTC has traded another $30m. Our goal is to become as profitable as Bitmex and OKEx within a year. This is not an easy feat, but we’ve received overwhelming support from top industry players who have reaffirmed the demand for a well-designed derivatives exchange. We want to scale up as quickly as possible and build a community of strong supporters, so we are conducting a token raise for people who want to help grow FTX. 

What is the unique selling point?

FTX was built with a lot of features to differentiate us from our competitors, but its greatest strength lies in the team behind it. We are confident that FTX has massive potential to rise to the top because we have proven time and time again our ability to enter a crowded market, disrupt the status quo and become one of the dominant players. We have consistently demonstrated our ability to innovate, execute and grow rapidly.
These qualities have served us well in helping us stay one step ahead of the competition. There is enormous untapped potential in the derivatives market, and we are excited to repeat our success with FTX. We’d be ecstatic for investors and supporters to join us on this journey.

FTX is backed by Alameda Research, a ~$100million AUM quantitative cryptocurrency trading firm. Within a year, Alameda Research became the largest liquidity provider and market maker in the space. Alameda trades $600 million to 1 billion a day, accounts for roughly 5% of global volume and is ranked 2nd on the BitMEX leaderboard.

One-third of all fees generated on FTX will be used for an FTT repurchase until at least half of all FTT is burned.  Any FTT bought this way will be burned.

FTT can be used as collateral for future Customers who hold a certain amount of FTT for a period of time and will receive lower FTX futures fees. This will further increase demand for FTT. For more information please click here. positions. This increases utility and demand for FTT. The same applies when we launch margin trading in the future.

Roadmap

There is no publication from the FTX team. Coincu will update when it has news.

Technical Data

Token Metrics

• Token Name: FTX Token
• Ticker: FTT
• Contract: 0x50d1c9771902476076ecfc8b2a83ad6b9355a4c9
• Decimal: 18
• Blockchain: Ethereum
• Token Standard: ERC-20
• Token Type: Utility Token, Exchange Token.
• Total Supply: 332,767,892 FTT
• Circulating Supply: 251,835,445 FTT

Token Allocation

Token Sale

Token Release Schedule

Token Use Case

• Trading Fees: FTX futures trading fees are less and OTC spreads are tighter as compared to other crypto exchanges.

• White Label Solutions: A white label variant of the FTX OTC site and futures market has piqued the curiosity of crypto institutions and large investors for which the purchase will be offered in FTT token.
• FTT as Collateral: To increase the demand for FTT in the long run, it can be used as collateral in futures trading.
• FTT Token Value: The value of the FTT token is directly proportional to the future expansion and upgrades of the FTX platform. Holders of the FTT token can expect a rise in their holdings as the price of FTT increases.
• Create Leveraged Token Listing: Upcoming projects can pay a fee and generate leveraged tokens with their coin.
• Token Burn/Revenue Share: The FTT that is bought from FTX will have a transaction fee, one-third of which will be utilized to repurchase FTT tokens and later become a part of the burning process.

• Extra Gains For FTT Holders: When big market fluctuations will occur in the crypto market, FTT holders will profit from the FTX backup liquidity fund.
• Staking FTT: Receiving IEO tickets; Free fee transferring ERC-20 Token; Higher Referral Rate; e.t.c

Backers

Investors

The most notable backer is, of course, Alameda Research.

Team

FTX is led by Sam Bankman-Fried, the most influential KOL in cryptocurrency and he is one of the richest people in this market.

Verdict

So far FTX has been offered exclusive partnerships and acquisition interest from various crypto institutions. They have turned down these opportunities because they strongly believe in our ability to make FTX a success.

Find more information about FTT:

Website: https://ftx.com/

Whitepaper: https://docs.google.com/document/d/1u5MOkENoWP8PGcjuoKqRkNP5Gl1LLRB9JvAHwffQ7ec/view

Twitter: https://twitter.com/FTX_Official

Telegram: https://t.me/FTX_Official

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do

your own research before investing.

Tony

Coincu Ventures