FTT FAQs
Do you have a specific question about FTT? If so, we’ve compiled a broad list of frequently asked questions (FAQ) to give you more information about the topic.
FTT is a cryptocurrency token that is used on the FTX exchange. It is an ERC20 token that allows users to trade on the platform and receive discounts on fees.
Some of the benefits of using FTT include:
Reduced trading fees
Access to exclusive features and tools
Allows users to engage in staking FTT
You can learn more about FTT by taking a look at the FTT whitepaper here.
You can use the FTX OTC portal to ask for a quote if you’re ready to buy FTT, as well as purchase on the FTX website.
All FTT tokens will unlock as soon as liquidity is feasible. The windows were July 29, 2019 ending on October 29, 2019 for the FTT Round 1 Token, July 29, 2019 ending on September 13, 2019 for the FTT Round 2 Token, July 29, 2019 ending on August 29, 2019 for the FTT Round 3 Token, and finally May 1, 2019 ending on May 1, 2022 for the FTT Team Token.
FTT is the cornerstone of the FTX system, providing the following capabilities:
FTX will buy and burn FTT equal to one-third of all exchange fees.
FTT will be accessible as collateral on FTX.
FTT will get socialized gains from the backstop liquidity fund on FTX.
Currently, there is a token supply of 350,000,000 FTT tokens. As such, token buying and burning will continue until at least half of all FTT is burned.
FTX allows users to earn interest and rewards for their locked up FTT tokens. Check out our FTT staking page for more information.
All FTX users will receive discounts based on the number of FTX tokens they hold. The table below provides more information.
| FTT Holding (USD) | Discount on FTX Fees | Other Privilege |
|---|---|---|
| $100 | 3% | N/A |
| $1,000 | 5% | N/A |
| $5,000 | 10% | N/A |
| $10,000 | 15% | N/A |
| $50,000 | 20% | N/A |
| $100,000 | 25% | N/A |
| $200,000 | 30% | N/A |
| $500,000 | 35% | N/A |
| $1,000,000 | 40% | Automatically become Tier 4 |
| $2,500,000 | 50% | Automatically become VIP 1 |
| $5,000,000 | 60% | Automatically become VIP 2 |
FTT prices are fluctuating every day, much like other cryptocurrencies. The FTX exchange has the most up-to-date prices.
Burning FTT is the process of destroying FTX tokens to remove them from circulation. This is done in order to increase the value of the remaining tokens.
