FTX Token (FTT) - The FTX token that has returned after the late 2022 escrow.
FTX Token (FTT) is the token of what used to be the FTX exchange.
It was primarily used to pay commission rebates on the platform, but is now a token available on most cryptocurrency exchanges.
It was launched in 2019 with a token burning policy that allows it to preserve its value over time.
Key Metrics FTX Token (FTT)
Recent Price | $2.10 |
Market Cap | $687,615,332 |
Circulating Supply | 328,895,104 FTT |
Total Supply | 352,170,015 |
Maximum Supply | 352,170,015 |
What is FTX Token (FTT)?
FTX Token (FTT) is a cryptocurrency developed by FTX, a cryptocurrency and derivatives exchange platform founded by Sam Bankman-Fried in 2017. FTX was one of the leading trading platforms, which gained popularity due to its focus on innovative products and wide range of trading options. This just before the November 2022 scandals.
FTX Token (FTT) was launched by FTX in May 2019 as the native cryptocurrency of its exchange platform. FTX was founded by Sam Bankman-Fried and his team with the goal of providing a professional and advanced trading platform for cryptocurrency traders.
The launch of the FTT token was undertaken with the goal of enhancing the functionality and ecosystem of FTX. Over time, FTT has gained relevance in the crypto ecosystem and has become one of the top cryptocurrencies by market capitalization.
FTX has experienced significant growth in recent days following the exchange scandal, expanding its product and service offerings.
FTX Token (FTT): What makes it different and why invest?
The FTT token is used as the native cryptocurrency of the FTX platform. It has multiple functions and benefits associated with it, although for now many of them are paused:
Commission discounts: FTT holders can benefit from trading commission discounts on what used to be the FTX platform. The more FTTs they have, the greater the discounts available.
Membership program: FTT is used in the FTX membership program, which offers additional benefits to users who own and maintain a certain amount of tokens. These benefits include reduced trading fees, access to exclusive products and premium services.
Governance participation: FTT holders have the opportunity to participate in decision making on the FTX platform through voting on governance proposals. This allows users to have a voice in the direction and evolution of the platform.
Token burning: FTX commits to use a portion of its revenue to periodically purchase and burn FTT tokens, which reduces the total supply and can potentially increase their value.
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