What is FTX Token?

FTX Token, abbreviated FTT, is the native currency of the crypto derivatives exchange, FTX. A next-generation digital asset designed to be much more than simply a medium of transaction, FTX Token (FTT) brings state-of-the-art functionality and unique benefits to its users while acting as the backbone of the greater FTX ecosystem.

Buy FTT

Buying FTX Token (FTT) is the quickest and easiest way to invest in the greater FTX ecosystem. FTX is a US-regulated cryptocurrency and digital derivatives exchange created by veterans of traditional finance and some of the world’s leading tech firms. 

Launched in 2019, the platform was built to deliver a professional-grade trading experience to the crypto community and offer crypto investors financial products that were previously only available in the traditional finance space. 

Innovative financial products like leveraged tokens and perpetual futures, along with structural developments like the platform’s centralized collateral pool and clawback prevention mechanism, have attracted millions of retail and institutional investors to the platform.

Hold FTT

The FTT benefits include earning up to a 60% discount on trading fees across the platform. Additionally, holders of FTT can receive up to 40% referral rates and Maker fee rebates (that means you get paid to trade instead of paying fees!) of up to 0.003%, and participate in weekly airdrops of SRM. FTX Token (FTT) can be used as collateral on all FTX Futures markets, so users can take advantage of the token’s benefits while still employing their capital to facilitate trades.

Socialized Gains for FTT Holders

During periods of high volatility and large market movements, FTT holders will receive socialized gains from the platform’s backstop liquidity fund if the platform’s liquidation engine is triggered. This means that while other exchanges may need to requisition their users’ funds, FTT holders can benefit from the market’s volatility.

FTX Token Buy & Burn

With a fixed supply of FTT set at 350,000,000 tokens, the platform has adopted a weekly FTT burn schedule to continually limit the amount of FTT in circulation as the ecosystem grows. By triggering weekly deflationary events, FTX returns value to token holders the same way a company might buy back stocks to return value to its shareholders (*2). FTX repurchases and burns FTT at a rate equal to:

  1. 33% of trading fees generated on FTX markets
  2. 10% of net additions to the FTX backstop fund (‘Socialized Gains’)
  3. 5% of fees earned from other uses of the FTX platform (*1)

What Does FTX Token Do?

FTX Token (FTT) is the most direct vehicle for FTX to give value back to its community and users. The token has many uses across the platform including being used for collateral, and giving fee discounts to users who hold it. This functionality drives demand for the token which contributes to its increasing valuation. By buying and burning FTT on a weekly basis, FTX further supports the asset’s deflation and returns value to the community. Users can increase their benefits by staking the token on the platform.

Where Can You Buy FTT?

In addition to being readily available from FTX.com, FTX Token (FTT) can also be purchased on a variety of cryptocurrency exchanges. Currently, FTT is listed on Binance, BitFinex, Huobi Global, and AscendEX. As the physical and digital worlds become more intertwined, FTX Token (FTT) has also become available for purchase through crypto ATMs on the Coinhere network.

As adoption of the FTX ecosystem continues to grow, FTT will continue to debut in new markets in the months and years to come. 

*FTX Token (FTT) is not available in the United States or other prohibited jurisdictions.

What is FTT Used For?

FTX Token (FTT) is used for a variety of purposes on the platform. One of the most popular uses as collateral for leveraged trading in derivatives markets. FTT can also be used to participate in Initial Exchange Offerings, earn SRM airdrops, and increase voting rights for the FTX DAO. (FTTDAO are still working on the governance mechanism).

When did FTT Launch?

FTX Token (FTT) was built to be an integral part of the FTX ecosystem from the platform’s inception. The token launched on May 8, 2019, and has seen rapid growth on par with the expansion and adoption of the broader ecosystem.

FTX Token Outlook

FTX was built by traders for traders, and as such, FTX Token (FTT) was built to serve the platform’s growing community of institutions, enthusiasts, and first-timers alike. Driven by a passion for innovation, FTX is on a mission to provide first-class financial services to the world at large, and FTX Token (FTT) is central to that goal. You can learn more about FTX Token (FTT) by reading the FTX Token Whitepaper or checking the current price of FTT here

 If you’re ready to dive in, you can start earning rewards from your crypto by purchasing FTX Token (FTT) on the FTX Exchange today.