What is FTT?
FTT is the native cryptocurrency of the crypto trading platform FTX. FTX is a cryptocurrency derivatives exchange. It offers futures, leveraged tokens and Over-The-Counter (OTC) trading, among other things. FTX’s mission is to solve the inefficiencies in crypto futures exchanges and move the derivatives market towards becoming institutional grade. The team behind the FTX exchanges comes from leading Wall Street funds and technology companies, including big names such as Facebook and Google. FTX has many innovative products, one of which is Leveraged Tokens, which allow traders to put on leveraged positions without having to margin trade. One third of all fees generated on FTX will be used for FTT repurchase, until at least half of all FTT is burned. FTT can also be used as collateral for futures, which increases utility, and therefore demand for FTT. As with many other exchange-issued tokens, customers who hold FTT can also be entitled to fee discounts.