FTT is the native cryptocurrency token of the FTX crypto derivatives trading platform launched on May 8, 2019.
The team behind FTX is made up of some of the biggest crypto traders who decided to launch their own platform after discovering the problems with most crypto futures exchanges over the past few years. FTX claims to be distinguished by features such as clawback prevention, centralized collateral, and universal stablecoin settlement.
FTX is a centralized cryptocurrency exchange founded in 2019 by Sam Bankman-Fried and is backed by major trading companies in the industry, including Almeda Research, OTPP, Temasek, BlackRock, Coinbase Ventures, and Sequoia Capital. As of 2022, the platform has more than a million members and daily trading volume has reached billions of dollars.
What Is FTX Token (FTT)?
FTT is the native cryptocurrency token of the FTX crypto derivatives trading platform launched on May 8, 2019.
The team behind FTX is made up of some of the biggest crypto traders who over the last few years have decided to launch their own platform after discovering the problems with most crypto futures exchanges. FTX claims to be distinguished by features such as clawback prevention, centralized collateral, and universal stablecoin settlement.
FTX is a centralized crypto exchange founded in 2019 by Sam Bankman-Fried and is backed by some of the biggest trading companies in the industry, including Almeda Research, OTPP, Temasek, BlackRock, Coinbase Ventures, and Sequoia Capital. As of 2022, the platform has over a million members and daily trading volume has reached billions of dollars.
In order to prevent reversal risk, a large amount of client money has been invested in socialized losses on other derivatives exchanges. FTX minimizes this by using a three-step withdrawal model.
On existing crypto futures exchanges, collateral is divided into separate token wallets; This can be difficult for traders as it prevents positions from being liquidated. On the other hand, FTX derivatives have stable coin payouts and require only one universal margin wallet.
Another feature of FTT is leveraged tokens, which allow traders to place leveraged positions without having to trade on margin. If a trader wants to short Bitcoin with 3x leverage, they can buy 3x Short Bitcoin Leverage Tokens on FTX. These tokens are ERC20 compatible and can be listed on any spot exchange. FTX currently offers XRP, BNB, TRX, BTC, ETH, EOS, USDT and LEO leveraged tokens.
A year after its establishment, FTX Exchange introduced an exchange token called FTX Token or FTT. FTT coin is an ERC-20 standard token actively used by ecosystem participants.
Who Are the Founders of FTX Token?
FTX Token or FTT was founded by Sam Bankman-Fried and Gary Wang. Sam Bankman-Fried is the founder and CEO of FTX: Cryptocurrency Derivatives Exchange. He is also the Executive Director of Almeda Research and Director of Development at the Center for Effective Altruism. He was also a trader at Jane Street Capital from 2014 to 2017.
Bankman-Fried studied physics and received her BA from the Massachusetts Institute of Technology.
Gary Wang is the Founder and Chief Technology Officer of FTX: Cryptocurrency Derivatives Exchange. He is also Chief Technology Officer at Almeda Research. Prior to that, he worked as a software engineer at Google after transitioning from a software engineering intern. He was also a software engineering intern at Facebook.
He holds a bachelor’s degree in mathematics and computer science from the Massachusetts Institute of Technology.
FTX Token (FTT) Price Prediction
| Name | Price | 24H (%) |
|---|---|---|
 Tether (USDT) | $1.00 | 0.05% |
 FTX (FTT) | $1.89 | -21.50% |
What Makes FTX Tokens Special?
FTX is backed by Almeda Research, one of the leading crypto trading companies and one of the largest liquidity providers.
Therefore, FTX is a product developed by experts with proven experience in the field. They cover a wide range of services: collateral, maintenance, liquidation processes, and even product listings. FTX focuses on a fast development cycle, enabling crypto trading systems to be deployed at a competitive pace.
How Many FTX Token (FTT) Coins Are in Circulation?
FTX is a cryptocurrency derivatives exchange offering futures, leveraged tokens and OTC trading with a focus on institutional-level solutions.
The FTX token is the backbone of the FTX ecosystem and aims to increase network influence and demand for FTT, as well as reduce circulating supply.
FTT has a circulating supply of about 94 million tokens as of February 2021, with a total supply of about 345 million.
How Is the Ftx Token Network Secured?
FTT is an ERC-20 compatible exchange token. The Ledger Nano X/S hardware wallet allows users to securely store and manage FTT tokens through their own Ethereum app.
Security audits of FTT and leveraged tokens are performed by Blockchain Consilium auditing company.
Where Can You Buy FTX Tokens (FTT)?
FTX tokens or FTT can be bought, sold and traded on several exchanges including:
- Binance JEX
- HitBTC
- FTX
- Huobi Global
- Binance
