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FTX Token
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FTT
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28.1876
FTT
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Explore FTT in Onchain
FTT may be available for swapping via Onchain, our official decentralised product. Try it now.
Explore FTT in Onchain
FTT may be available for swapping via Onchain, our official decentralised product. Try it now.
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FTT
$0.3548
-4.30%
Meme
+56.98%
DeFi
+16.46%
BTC-ETH Duo
+132.04%
Big 3
+199.8%
Market cap
$116.68M
Rank
#343
24H volume
$3.68M
Circulating supply
328.9M FTT
100% of total
All-time high
$85.02
-23861.9%
All-time low
$0.34
3.81%
Total supply
328.9M FTT
Max supply
352.17M FTT
Dogecoin
$0.108
-0.11% YTD
SHIBA INU
$0.000006766
-1.67% YTD
FTT is the native token for the FTX cryptocurrency derivatives exchange that provides futures, leveraged tokens, and OTC trading. Futures exchanges still have many crippling flaws that are holding the space back. FTX’s mission is to solve these problems and move the derivatives space toward becoming institutional grade. It offers a variety of applications that are intended to assist its users and enhance network effects across the platform.
FTX, a cryptocurrency derivatives exchange that debuted in April 2019, is a trading platform for futures and leveraged tokens on individual and baskets of crypto assets, over-the-counter (OTC) trading, and even binary options on the result of the 2020 American Presidential election. It was funded by Alameda Research, a trading business that handles between US$600 million and $1 billion in volume every day, or around 5% of worldwide activity at the time of writing.
FTX was created to avoid clawbacks by using a three-tiered liquidation strategy that closes holdings with rate-limited orders and uses an insurance fund to protect customers from losses. Collateral is pooled in a single universal stablecoin wallet rather than distributed among many tokens to replicate the conventional futures market.
With their leveraged tokens, FTX also lets traders take leveraged or short positions without trading on margin or futures, simulating the sensation of trading on spot markets but allowing 3x, -1x, or -3x on different tokens. Alameda powers the FTX OTC desk, which trades roughly $30 million each day with no expenses.
The FTT Token was launched privately on July 27 2019, with an initial supply of 350,000,000. Users earn trading fee savings and OTC refunds in a tiered scheme depending on their FTT holdings. Token Burn FTX will repurchase and burn tokens until half of the entire quantity has been depleted. The burns will be the same as 33% of all fees collected by the exchange, 10% of net insurance fund additions, and 5% of fees from other platform usages.
The team itself holds 31.25 million tokens which will be vested over a 3-year period: 50 million tokens purchased in Round 1 vested throughout the first three months, 6.5 million tokens purchased in Round 2 were vested over the first 1.5 months, and 2.8 million tokens purchased in Round 3 were vested over the first month.
FTX allows you to trade crypto derivatives such as futures and options. FTX employs leveraged tokens rather than conventional margin trading, which allows traders to quadruple their earnings or losses. Customers may use them to take a leveraged position without having to deal with the complexity of full margin trading. Because of the limits on retail derivatives trading, its US website, FTX.US, offers a restricted range of services. Derivatives are sophisticated trading instruments that entail trading contracts to purchase or sell a thing without owning the underlying goods themselves. They enable traders to predict whether a market will increase or decline.
FTX set intended to alleviate a variety of issues that existing derivatives exchanges experienced, such as time-consuming trading procedures, low liquidity, and so-called ‘clawbacks’. Clawbacks occur when money is seized from several investors to pay the bankruptcy of another individual.
The FTX trading platform's official currency is FTT, which can be used to get discounts and staking rewards from FTX. The FTX trading platform is a futures exchange that strives to solve the flaws of existing crypto exchanges by providing its customers with a platform that is simple to use and beneficial for all stakeholders everybody.
While the exchange and leveraged token costs on the FTX trading platform are kept to a minimum, FTT. It does, however, provide exclusions for innovative products like spot exchange, leverage trading, and options. Holders do not pay any, do not cost you any deposit or withdrawal fees, with the exception of ETH, ERC20 tokens, or BTC withdrawals (only 0.01 BTC withdrawals incur a cost).
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