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What is FTX Token

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What is FTX Token (FTT)?

FTX Token basic info

Name:FTX Token

Ticker:

FTTBuy now

Introduction:

What is FTX Token?

FTX was launched in 2019 by a team of experienced crypto traders who noticed issues with most mainstream crypto futures exchanges. The exchange is centralized and was founded by Sam Bankman-Fried, with support from prominent trading companies like Almeda Research, OTPP, Temasek, BlackRock, Coinbase Ventures, and Sequoia Capital. As of 2022, FTX has over a million registered members, and the daily trading volume has reached billions of dollars. As of November 11, 2022, FTX has filed for Chapter 11 bankruptcy protection in the U.S., and some of the information provided may not reflect the current state of the exchange. Thus, it's advisable to exercise caution when dealing with FTX.

What is FTT Used For?

FTT is a token that aims to reduce the expenses that traders and investors incur when participating in crypto activities on FTX's platform.

One of the benefits of FTX Token (FTT) is that it offers commission discounts to members, resulting in tighter spreads. Traders can also use FTT as collateral, and those who are active on FTX Exchange could see percentage differences of up to 60%. Additionally, traders are provided with insurance protection, which ensures a net profit in moments of market volatility and makes it possible to continue trading even without a margin call.

Moreover, FTT is useful for opening positions with leverage, and FTT staking offers perks, such as discounts, the opportunity to win NFTs, participation in airdrops, bonus votes, and IEO tickets. Besides, 1/3 of the commissions received from transactions on FTX are utilized to buy back FTT, which are burned. FTT tokens are also used to reduce trading fees and to secure futures positions. Profits from massive market movements are distributed among the holders. Institutions and investors can pay expenses in FTT tokens by purchasing a white label version of FTX’s OTC portal and futures market. Projects can pay listing fees with FTT by creating leveraged tokens.

What Makes FTX Unique?

Traders and investors can benefit from discounted fees and access to various strategies on FTX's platform by using FTT. Additionally, FTT is a tradable cryptocurrency that serves as a global digital payment method. With over 10 billion registered users, FTX is valued at $32 billion as of January 2022.

How Is the FTX Token Network Secured?

The FTT token is compatible with ERC-20 exchanges, and users can store and manage their FTT tokens securely using the Ethereum app on the Ledger Nano X/S hardware wallet. The Blockchain Consilium auditing firm has conducted security audits for both the FTT and the leveraged tokens.

What’s the Price Prediction of FTX?

The FTX Token is believed to have potential for growth in value due to its community of investors and traders. Experts predict that the FTX Token will have a bullish price in 2025. Based on current market trends, it is expected that the FTX Token will reach its maximum price of $7.79 in 2025. The average predicted price for the FTT Token in 2025 is forecasted to be around $7.30, while the minimum projected price for the FTX Token in the same year is $6.81, according to the same source.

Current price:

$2.16More price details

All-time high:$85.02

All-time low:$0.7763

FTT supply and tokenomics

Circulating supply:328,895,100 FTT

Total supply:328,895,103.81 FTT

Max supply:0 FTT

Market cap:$710.05M

Fully diluted market cap:$710.05M

Token allocation:

Other Investors

51.60%

Round 1

14.30%

Team Token (Locked)

8.90%

Others

7.20%

Team

6.00%

FTT Liquidity Pool

6.00%

Ecosystem

3.00%

User Acquisition Fund

3.00%

Tokenomics:

Token utility

Token Burn

One third of all fees generated on FTX will be used for an FTT repurchase, until at least half of all FTT is burned. Any FTT bought this way will be burned.

Collateral

FTT can be used as collateral for futures positions. This increases utility and demand for FTT. The same applies when we launch margin trading in the future.

Discount on Trading Fees

Customers who hold a certain amount of FTT for a period of time will receive lower FTX futures fees. This will further increase demand for FTT.

OTC rebates

Customers who hold enough FTT will receive rebates from all of their OTC trading on FTX.

OTC burn

There will be a repurchase and burning of FTT based on OTC volumes and revenue from the FTX OTC portal, powered by Alameda Research.

Socialized Gains

We’ve performed backtests and live simulations to see how FTX will fare during large market movements. While other futures exchanges suffered from clawbacks, FTX managed to net increase their insurance fund by a sizeable amount thanks to its unique backstop liquidity provider program. For instance, during a recent market move, Okex incurred ~$3 million of clawbacks. Meanwhile, our demo simulation which mirrored positions on OKEx demonstrated no clawbacks and a net gain of a million to our insurance fund.

We are confident in FTX’s ability to handle endangered accounts and will redistribute a portion of net insurance fund gains to FTT holders.

White Label Solutions

Several crypto institutions have expressed strong interest in purchasing a white label version of our OTC portal and futures exchange. We foresee that this trend will continue when we release other derivatives products like options. These white label solutions can be purchased in FTT.

Future Expansion

FTT is the backbone of the FTX ecosystem. There are many ways FTT will be used as we add more products and features to FTX. For instance, when we launch a spot exchange in the future, FTT will be used for initial exchange offerings.（The "we" in the text refers to the FTT project party）

Links

Whitepaper:https://docs.google.com/document/d/1u5MOkENoWP8PGcjuoKqRkNP5Gl1LLRB9JvAHwffQ7ec/view

X:https://twitter.com/FTX_Official

Buy FTX Token for $1Buy FTT now

What is the development prospect and future value of FTT?

The market value of FTT currently stands at $710.05M, and its market ranking is #119. The value of FTT is widely recognized by the market. When the bull market comes, the market value of FTT will likely continue to increase.

Moreover, if FTT can play a greater role in practical applications, such as FTX Token builders fully leveraging the potential of FTT, partnering with more businesses, and increasing its user base, the long-term value of FTT will be significantly enhanced.

What will the price of FTT be in 2025?

Based on FTT's historical price performance prediction model, the price of FTT is projected to reach $3.2 in 2025.

What will the price of FTT be in 2030?

In 2030, the FTT price is expected to change by -19.00%. By the end of 2030, the FTT price is projected to reach $4.12, with a cumulative ROI of +106.29%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of FTT and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

FTT price FTT price prediction FTT news

Is FTT worth investing or holding? How to buy FTT from a crypto exchange?

If you want to buy FTT, the following information may be helpful for your investment decisions:

In the last seven days, the price of FTT has risen by 5.17%, leading to positive returns for most FTT investors. The market is currently optimistic about the price trend of FTT.

It is important to note that the current price of FTT has retreated by -97.46% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether FTT is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in FTT or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of FTT, if you want to buy or sell FTT, you can consider Bitget for your trading needs. The best place to buy FTT is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in FTX Token has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy FTX Token. Here's a step-by-step guide on how to buy FTX Token on Bitget.

Buy FTT now Coin buying guide

How to get FTX Token through other methods？

Using cash to buy FTX Token is not the only way to obtain FTX Token. If you have the time to spare, you can get FTX Token for free.

Learn how to earn FTX Token for free through the Learn2Earn promotion.

Earn free FTX Token by inviting friends to join Bitget's Assist2Earn promotion.

Receive free FTX Token airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to FTX Token through Bitget Convert, Bitget Swap, or spot trading.

What is FTX Token used for and how to use FTX Token?

The use case of FTX Token may expand as the crypto market and the project itself develop. Currently, you can use FTT to achieve the following goals:

Arbitrage by trading FTT: Since FTT is a frequently traded cryptocurrency, the price of FTT is always fluctuating. Earn more FTT by buying low and selling high on the exchange. Bitget spot market provides a variety of FTT trading pairs to fully meet your needs.

Earn by staking FTT: You can also generate income through financial management methods such as staking FTT or lending FTT. Bitget Earn offers a variety of financial products designed to help you earn more income from your FTT.

Send or pay FTT: If you want to give FTT to your friends, a charity, or a fundraiser, or you want to pay someone with FTT, you can quickly and easily send FTT to the recipient through their payment address.

You can also go to the official website of the FTX Token project to learn more about the use cases of FTT. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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