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New Listing: Crypto Derivative Exchange FTX Token (FTT)
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We are excited to announce that the FTX exchange token - FTT, is now available on Liquid!
FTX is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens, and an OTC desk. FTX strives to be an intuitive yet powerful platform for all kinds of users and to be the most innovative exchange in the industry.
FTX Token - FTT is the backbone of the FTX ecosystem. See the FAQ and whitepaper for more details. FTT is an ERC20 token, you can find it on etherscan here. For more information about FTT, please visit https://ftx.com/intl/ftt.
FTT weekly Buy & Burn
FTT's supply is reduced gradually via a weekly repurchase and burning mechanism. FTX will be repurchasing and burning tokens equal to:
- 33% of fees generated on FTX markets
- 10% of net additions to the backstop fund ('Socialized Gains')
- 5% of fees earned from other uses of the FTX platform
FTX will buy FTT on its FTT/USD market. Bought FTT will be burned on a weekly basis in accordance with a schedule adopted by FTX. The current schedule typically starts at 10 pm SGT each Monday, with purchased tokens burned by 11:59 pm, SGT Tuesday. The above fees are less promotional discounts, payment processor fees, referral fees, and third-party costs associated with such revenue.
Staking FTT on FTX gives the following benefits:
- Increased referral rates: referrers that stake FTT are paid a higher fraction of their referees' fees
- Maker fee rebates: stakers get maker fee rebates (in addition to the standard FTT fee discounts)
- Free swag NFTs: stakers can spin the non-fungible swag wheel for a chance to win a free NFT, redeemable for FTX-themed swag, or resellable at the NFT marketplace.
- Bonus votes: stakers get bonus votes in our polls (in addition to the standard number of votes, based on FTT held and trading volume)
- Increased airdrop rewards: stakers get increased SRM airdrops (and potentially later other airdrops and yields)
- Waived blockchain fees: stakers get a number of free ERC20 and ETH withdrawals per day
- IEO tickets: stakers get tickets for IEOs hosted in FTX
See here for more information.
*Please note: FTX Token (FTT) is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated or otherwise established in, or a resident of the United States of America, you are not permitted to transact in FTT.
FTT Listing Details
Listing Date: February 15th, 2022 at 3 PM (JST).
From 15th of February, 2022 - 1st of March, 2022 we offer 0 fees for trading FTT pairs on Liquid.
For more info about FTX, check out the links below.
Telegram community: https://t.me/FTX_Official