FTX Token

About FTX

FTX is a cryptocurrency derivatives exchange founded in 2019 that offers a wide range of trading products, including futures, options, leveraged tokens, and spot markets, and supports trading for over 100 cryptocurrencies. FTX also offers industry-leading features such as low fees, high leverage, and innovative trading products like pre-IPO futures and event contracts. Additionally, FTX has established partnerships with major sports franchises and leagues, including the NBA and MLB, and has also launched its own token, FTT, which provides users with additional benefits on the platform.

About $FTT token

FTT is the native cryptocurrency of the FTX exchange, used for various purposes such as providing users with discounted trading fees, staking rewards, and governance rights. FTT holders can also receive additional benefits such as increased leverage, airdrops, and other exclusive features. In addition, FTX uses a portion of its revenue to buy back and burn FTT tokens, which can potentially increase the value of the remaining tokens in circulation.

How to buy $FTT with a payment card

1. Enter the amount of $FTT and fiat currency that you wish to purchase.

2. Verify your phone and email.

3. Enter or create $FTT wallet

You are given the option to enter your $FTT wallet address or create one using the Swipelux widget.

4. Pass KYC flow

This verification process helps protect you from fraud and other malicious activities.

5. You're now ready to buy $FTT with a credit and debit card.

$FTT analytics

Market Position and Adoption: FTT token currently ranks at #215 among all cryptocurrencies by market capitalization, with a market cap of $419,031,413 USD and a fully diluted market cap of $448,684,998 USD. The token is used primarily on the FTX exchange, which has gained significant traction in the cryptocurrency derivatives market since its launch in 2019. FTX has also established partnerships with major sports franchises and leagues, such as the NBA and MLB, which has helped to increase the visibility and adoption of the FTT token.

2. Technology and Platform: FTT is built on the Ethereum blockchain and is an ERC-20 token. It is used as the native currency on the FTX exchange, which offers a wide range of trading products, including futures, options, leveraged tokens, and spot markets. The FTX platform is known for its low fees, high leverage, and innovative trading products, such as pre-IPO futures and event contracts.

3. Team: The FTX exchange and FTT token were founded by Sam Bankman-Fried and Gary Wang, both of whom have significant experience in quantitative trading and cryptocurrency markets. The team behind FTX also includes a number of other experienced developers and traders, as well as advisors such as the former CFTC chairman Christopher Giancarlo.

4. Competition: FTX operates in a highly competitive market, with other well-established cryptocurrency derivatives exchanges such as BitMEX, Deribit, and Binance Futures. However, FTX has differentiated itself from competitors by offering innovative trading products and features, as well as establishing partnerships with major sports franchises and leagues.

5. Supply: The total supply of FTT tokens is 328,895,104, with a maximum supply of 352,170,015. As of May 1, 2022, 100% of the FTT tokens have been fully unlocked. FTX uses a portion of its revenue to buy back and burn FTT tokens, which can potentially increase the value of the remaining tokens in circulation. Currently, FTT has a circulating supply of 328,895,104 tokens, representing 93% of the total supply.

$FTT risks

1. Market Volatility: As with any cryptocurrency, the value of FTT tokens is subject to market fluctuations and volatility. The price of FTT tokens can be impacted by a wide range of factors, including market sentiment, regulatory developments, and macroeconomic conditions.

2. Regulatory Risks: Cryptocurrencies and cryptocurrency exchanges are subject to regulatory risks, as governments around the world are still grappling with how to regulate this emerging asset class. Any adverse regulatory actions or restrictions could have a negative impact on the adoption and value of FTT tokens.

3. Centralized Exchange Risks: FTT tokens are primarily used on the FTX exchange, which is a centralized exchange. This means that the exchange has custody over users' funds and tokens, which could potentially be subject to hacking or theft. Any such incidents could have a negative impact on the value of FTT tokens.

4. Competition: As mentioned earlier, FTX operates in a highly competitive market with other well-established cryptocurrency derivatives exchanges. Any new entrants or disruptive innovations from competitors could potentially impact the adoption and value of FTT tokens.

5. Technical Risks: FTT tokens are built on the Ethereum blockchain and are subject to technical risks associated with the underlying technology. These could include security vulnerabilities, network congestion, or other technical issues that could impact the usability and value of FTT tokens.

Potential market development triggers

1. Expansion of the FTX Exchange: FTX has been rapidly expanding its offerings and features, and continued growth of the exchange could lead to increased adoption and use of FTT tokens.

2. Increasing Adoption of Cryptocurrency Derivatives: As the cryptocurrency market continues to mature, more investors are turning to derivatives products as a way to manage risk and gain exposure to the market. This could potentially lead to increased demand for FTT tokens, which are used as the native currency on the FTX exchange.

3. Partnerships with Major Institutions: FTX has already established partnerships with major sports franchises and leagues, which has helped to increase the visibility and adoption of FTT tokens. Further partnerships with major financial institutions or other prominent companies could also help to drive adoption and value of FTT tokens.

4. Expansion into New Markets: FTX has already expanded into the US market, and further expansion into new markets could lead to increased adoption and value of FTT tokens.

5. Introduction of New Features and Products: FTX has already established itself as an innovative player in the cryptocurrency derivatives market, and continued development and introduction of new features and products could help to drive adoption and value of FTT tokens. For example, the recent launch of the decentralized exchange Serum, which is built on the Solana blockchain and uses FTT as a governance token, could potentially drive demand for FTT tokens.