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Below you will find all the details about the coin. For more details you can visit the official website or the communication channels shown below. Details on the use of the currency in CoinRepublik are also displayed, such as the list of speculative markets, options or financial bets. If you are a token owner and would like to add it on CoinRepublik, please contact technical support.


FTX Token (FTT)
FTT is the native cryptocurrency token of the crypto derivatives trading platform FTX that launched on May 8, 2019. The team behind FTX comprises some of the largest crypto traders over the past few years who, having found issues with most mainstream crypto futures exchanges, decided to launch their own platform. FTX claims that it stands out due to such features as clawback prevention, a centralized collateral pool and universal stablecoin settlement....

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What Is FTX Token (FTT) ?

FTT is the native cryptocurrency token of the crypto derivatives trading platform FTX that launched on May 8, 2019.

The team behind FTX comprises some of the largest crypto traders over the past few years who, having found issues with most mainstream crypto futures exchanges, decided to launch their own platform. FTX claims that it stands out due to such features as clawback prevention, a centralized collateral pool and universal stablecoin settlement.

In regards to clawback prevention, a significant amount of customer funds on other derivative exchanges have been claimed by socialized losses. FTX reduces this by using a three-tiered liquidation model.

On existing crypto futures exchanges, the collateral is fragmented across separate token wallets; this can be difficult for traders as it prevents positions from getting liquidated. On the other hand, FTX derivatives are stablecoin-settled and only require one universal margin wallet.

Another feature of the FTT are leveraged tokens, which allow traders to put leveraged positions without the need to trade on margin. If a trader wants to short Bitcoin with 3x leverage, they can simply buy a 3x short Bitcoin leveraged token on FTX. These tokens are ERC20-compatible and can be listed on any spot exchange. FTX currently offers XRP, BNB, TRX, BTC, ETH, EOS, USDT and LEO leveraged tokens.
 
Who Are the Founders of FTX Token ?

The FTX Token or FTT was founded by Sam Bankman-Fried and Gary Wang.

Sam Bankman-Fried is the co-founder and chief executive officer at FTX: Cryptocurrency Derivatives Exchange. He is also the CEO of Almeda Research and worked as a director of development at the Centre for Effective Altruism. He was also a trader at Jane Street Capital from 2014 to 2017.

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

Gary Wang is the co-founder and chief technology officer at FTX: Cryptocurrency Derivatives Exchange. He is also the chief technology officer at Almeda Research. Before this, he worked as a software engineer, after moving up from a software engineering intern at Google. He was also a software engineer intern at Facebook.

He has a Bachelor's degree in mathematics and computer science from the Massachusetts Institute of Technology.
 
What Makes FTX Token Unique ?

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

As such, FTX is a product designed by professionals with confirmed expertise in the industry. They cover multiple services: from collateral to maintenance margin to liquidation processes and product listing. FTX also claims to be focused on fast development cycles, allowing them to deploy crypto trading systems at a competitive pace.
 
How Many FTX Token (FTT) Coins Are There in Circulation ?

FTX is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading with a focus on institutional-grade solutions.

The FTX Token is the backbone of the FTX ecosystem, which was designed to increase network effects and demand for FTT as well as decrease its circulating supply.

FTT has a circulating supply of around 94 million tokens as of February 2021 and a total supply of about 345 million.
 
How Is the FTX Token Network Secured ?

FTT is an ERC-20-compatible exchange token. The Ledger Nano X/S hardware wallet allows users to securely store and manage the FTT tokens via its Ethereum app.

Both the FTT and the leveraged tokens security audits are done by the Blockchain Consilium auditing firm.
 
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Transactions in derivatives based on foreign exchange rates or the prices of precious metals, commodities or equity indices products carry a high degree of risk. Any transaction involving these products is exposed to, among other things, changes in a country's economic condition or political climate as well as acts of nature or terrorism - each of which may substantially affect the price or availability of the these derivatives. Speculative trading in derivate products is a challenging prospect with a high level of risk. You must therefore carefully consider your investment objectives, level of experience and appetite for such risk prior to trading these products. Most importantly, do not invest money that you are not in a position to lose. In addition, trading on a margin basis means that any market movement will have a magnified effect on your deposited funds. This can work against you as well as for you. The possibility exists that you could sustain a total loss of all the funds you have deposited. PipsTycoon's trading system is designed to automatically liquidate all open positions if your margin deposit is in jeopardy so that you cannot lose more than the funds you have on deposit in your account. We encourage you to employ such risk-reducing strategies as 'stop-loss' or 'stop-limit' orders, but you should be aware that market conditions may make it impossible to close out your order at the level specified. There are also risks associated with using an Internet-based trade execution software application including, but not limited to, the failure of hardware and software. ANNO1777 Labs maintains ‘back up’ systems and contingency plans to minimise the possibility of system failure. Before deciding to trade, you should become aware of all the risks associated with leveraged productstrading, and seek advice from an independent and suitably licensed financial advisor. Under no circumstances shall we have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to your trading operations any direct, indirect, special, consequential or incidental damages whatsoever.
Copyright 2019 ANNO1777 Labs. All rights reserved.