What is FTX?

What is FTT? FTX is an upcoming cryptocurrency derivatives exchange that offers futures, leveraged tokens, and OTC trading. The current futures exchanges have quite frequent clawbacks that often lead to losses in the millions due to the poorly designed risk management system. With FTX, it will reduce the likelihood of these clawbacks by using a three-tiered liquidation model. Hence, FTX hopes to become a leading exchange outcompeting BitMEX and OKEx within the coming years. 

Key Features of FTX:

  • Stablecoin settlement (TUSD/USDC)
  • New index futures (ALT, MID, SH*T along with USDT, BNB, etc.) 
  • Automated OTC trades
  • Backstop liquidity provider to stop clawbacks
  • One universal margin wallet
  •  Low fees, tight spreads, deep orderbooks, and a complete API

What is FTT?

FTT is a token that serves as the backbone of the FTX ecosystem. The token is intricately designed to increase network effects and demands for the token, while also helping to decrease its circulating supply. 

How does FTT work?

Users who trade on the FTX platform can utilize FTX to earn discounts on trading fees. This allows lower fees for trading on FTX futures and also tighter spreads for OTC. This token can also be utilized as a collateral for future positions which would also increase the utility and demand for FTT. During large market movements, instead of having clawbacks, FTX’s insurance fund will provide a net gain and this portion of gain will be socialized among its holders. Moreover, for those wanting to create leveraged tokens, they can use FTX’s token to do so. Crypto institutions who are looking to purchase a white label version of the OTC portal and the futures exchange can also purchase this via FTT. As the backbone of the FTX ecosystem, FTT will become more and more useful as more derivative products are added. The below graphic shows the trading fee discounts for holders of this revolutionary token: 

To learn more about this token, check out their whitepaper: 
https://help.ftx.com/hc/en-us/articles/360027945111–FTT-Whitepaper-Summary-

 

How can you purchase FTT?

FTT can be purchased at an exchange like Binance, FTX, or at an OTC like Genesis Block HK or even at a crypto ATM like CoinHere! If you would like to purchase this token via an OTC check out this url! If you would like to purchase FTT via our ATMS, click on this link to find the closest ATM to you!

How do you store FTT?

Storing FTT is quite simple as it is accepted by a wide variety of hard and digital wallets. Hard wallets include the famous Ledger and Trezor, and the digital wallets include Edge and Exodus. To check out which wallet best fits you check out this article! 

https://genesisblockhk.com/digital-wallets-cold-storage-how-do-they-work/

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