What is FTT?
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 and
HOLD 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.
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, bestowing voting rights, and giving fee discounts to users who hold it.
FTT was built to serve the platform’s growing community and is central to the goal of providing first-class financial services.
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).
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.
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.
FTX repurchases and burns FTT at a rate equal to: 33% of trading fees generated on FTX markets 10% of net additions to the FTX backstop fund (‘Socialized Gains’) 5% of fees earned from other uses of the FTX platform (*1)
STEP 1
Choose a Good Cryptocurrency Exchange
This is where you’ll buy and sell your FTT. Exchanges such as FTX lists spot FTT/USD, FTT/USDT, and FTT/BTC markets! These markets are standard two-way spot markets that can be freely traded.
STEP 2
Create an Account and Verify your Identity
This process can take a few days or a couple of minutes, depending on the account.
STEP 3
Start buying FTT
Once your account is verified, you can deposit money into it and start buying.
STEP 4
Secure your Crypto
Finally, store it in a safe place such as a software or hardware wallet. This will help you keep them secure and protect them from malicious people.
Whitepaper
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.
