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.
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.
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