What is FTX Token? Is FTT promising?

Written By Eleman

FTX Token (FTT), the native cryptocurrency of the FTX cryptocurrency exchange, is second among whales with an average purchase of $301,121. Rari Governance (RGT), the native token of DeFi firm Rari Capital, is eighth on the list, with whales withdrawing 1,482 RGT tokens worth $10,240.

One of the most remarkable cryptocurrencies of recent times, FTX Token. While the interest in crypto money is increasing day by day, searches for FTX token have also gained momentum.

What is FTX Token?

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FTX Token, one of the cryptocurrencies that has attracted attention recently, is quite ambitious in the crypto money world. Claiming to be free of many errors in crypto money transactions, FTX is listed with the short name FTT on reliable exchanges such as Binance. What is the FTX Token, which has shown an impressive performance compared to a few months ago, and if it is promising, we have explained them.

FTT is a project that was implemented on May 8, 2019. In fact, it is the currency of the cryptocurrency platform called FTX. So it would not be wrong to say that there is a breakthrough like Binance Coin. The FTX exchange says there are issues across crypto futures exchanges and claims that FTT offers a free financial experience.

FTT is a token used by FTX, an international crypto derivatives exchange.

FTX Token, on the other hand, is a type of crypto money released in ERC-20 standards on Ethereum.

FTT allows those who trade on the FTX exchange, make different investments by trading, receive discounts on commission fees.

FTT is an Ethereum-based token operating on the ERC-20 standard. FTT’s security audit is carried out by the Blockchain Consilium company, and the fact that Ethereum is behind the work adds a separate reliability. FTX Token has 94 million FTT in circulation, according to the account made in February 2021. The total FTT supply was calculated as 345 million in the same period.

Here are some well-known exchanges where you can trade with FTT:

  • Binance
  • HitBTC
  • FTX
  • Huobi Global
  • Coinone

Who is the Founder of FTX Token?

FTX Token or FTT for short; It was founded by Sam Bankman-Fried and Gary Wang.

Sam Bankman-Fried is the co-founder and CEO of the FTX Crypto Derivatives Exchange. He also served as CEO of Almeda Research and director of development at the Center for Effective Altruism. He also worked as a trader at Jane Street Capital from 2014 to 2017.

Bankman-Fried studied physics and earned a bachelor’s degree from the Massachusetts Institute of Technology.

Gary Wang is the co-founder and CFO of the FTX Crypto Derivatives Exchange. He is also chief technology officer of Almeda Research. He previously worked as a software engineer after doing a software engineering internship at Google. He also did an internship at Facebook as a software engineer.

He holds a bachelor’s degree in mathematics and computer science from the Massachusetts Institute of Technology.

Why is FTX Token Different?

FTX is backed by Almeda Research, known as one of the leading companies and largest liquidity providers in cryptocurrency transactions.

That’s why FTX is a product designed by professionals specialized in the industry. It includes multiple services, from coverage to maintenance margin, clearance processes and product listing. FTX also claims to focus on rapid development cycles and competitively launch new cryptocurrency trading systems.

FTT Reliability

FTT has solid names behind it in terms of reliability. Belonging to a reliable cryptocurrency market and being an Ethereum token are two pluses. It is notable that he claims to have solved transaction problems in the crypto world. FTT; It claims to stand out from other cryptocurrencies with features such as refund prevention and centralized collateral pool.

Traders face a challenge as most cryptocurrencies today split the collateral into different wallets. The fact that this situation does not occur in FTT is one of the remarkable features in the financial world.

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