FTX Token (FTT) Coin Review : It Is Good Or Bad Coin Read Our 2021 Review

FTX Token (FTT) Coin Review : It Is Good Or Bad Coin Read Our 2021 Review

About FTX Token (FTT) Coin

FTX Token (FTT) Coin is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. They strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users. For the rest of the month of May (UTC) FTX is offering every user on the platform a 1BP maker rebate as the baseline fee. Any user irrespective of their fee tier will be eligible to enjoy the highest FTX rebate tier. This fee tier is applied before any fee modifiers such as high leverage and as such your ultimate fee may differ.

FTX Token (FTT) Coin To celebrate the listing of SAND, FTX has teamed up with the Sandbox team to provide 5 exclusive NFTs to random users who have traded at least $50,000 USD in either the $SAND spot market or perpetual futures market. FTX reserves the right of final interpretation of this event.  Any judgements made by FTX are final, do not need any justification, and cannot be disputed.  Any sustained attempts to dispute the interpretation may result in permanent account closure.  Void where prohibited.

FTX Token (FTT) Storage Key Points

Coin NameFTX Token
Short NameFTT
Market Cap$2,755,718,764
Total Supply345,219,294
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
Max Supply339,228,639
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Trading Fees

FTX Token (FTT) Coin has a tiered fee structure for all Future Sports markets, as follows: 

mceclip0.png

Note that FTX also has a referral program, a VIP program for professional traders, and a Backstop Liquidity Provider program for market makers. FTT stakers receive maker rebates as low as -0.0030%, and it costs only 25 FTT to have 0 maker fees. See here for more information, and stake your FTT here. *Fees for spot trades are deducted in the currency you receive. A buy order on the BTC/USD market will have the fees charged in BTC, a sell order will have the fees charged in USD. **Using leverage of 50x increases trading fees by 0.02%, while 100x or higher increases trading fees by 0.03%, which are paid to the Backstop Fund. However, BTC-PERP and ETH-PERP do not incur the additional 0.02% or 0.03% charges!

Maker Rebates for FTT Stakers

FTX Token (FTT) Coin stakers receive maker rebates up to 0.0030%, and it costs only 25 FTT to have 0 maker fees. See here for more information, and stake your FTT here.

Spot-Margin Borrow/lend fees:

FTX Token (FTT) Coin In addition to the interest rate paid to the lenders, borrowers are charged a fee on borrows. Details on how the borrow rate is calculated can be seen in the fees section of the spot margin explainer

VIP Program

VIP Fees

_____2020-06-01___9.57.14.png

Market Maker Payments

FTX Token (FTT) Coin In addition to the above, we will be paying out the following monthly:

  1. $750k proportional to overall maker volume
  2. $250k proportional to options maker volume
    1. This will be split 50-50 between all options and MOVE volume traded throughout the calendar month. 
  3. $1k per market for the largest maker in that market by volume for markets that trade over $30k over the month

FTX Token (FTT) Coin Track Record of Proven Success

Team Background

FTX Token (FTT) Coin come from leading Wall Street quant funds and tech companies: Jane Street, Optiver, Susquehanna, Facebook and Google. The traditional secondary market is our bread and butter. We have backgrounds in equity derivatives trading; we understand both how derivatives are traditionally designed, and what derivatives there is market demand for.

Alameda Research 

FTX Token (FTT) Coin is backed by Alameda Research, a ~$100million AUM quantitative cryptocurrency trading firm. Within a year, Alameda Research became the largest liquidity provider and market maker in the space. Alameda trades $600 million to 1 billion a day, accounts for roughly 5% of global volume and is ranked 2nd on the BitMEX leaderboard

FTX Token (FTT) Coin Features

Preventing Clawbacks

FTX Token (FTT) Coin Current futures exchanges have frequent large clawbacks leading to losses in the millions of dollars due to poorly designed risk management systems. FTX significantly reduces the likelihood of clawbacks from ever occurring by using a three-tiered liquidation model. 

  1. We first close positions down carefully with rate-limited liquidation orders in the market.
  2. We have a unique backstop liquidity provider program which jumps in to provide to accounts in danger of bankruptcy.
  3. We leverage the insurance fund to prevent customer losses.

Non-Inverted futures

FTX Token (FTT) Coin futures are standard, rather than inverted.  This means that they are truley BTC/USD futures and not USD/BTC futures.  Thus a user’s USD PnL is simply (number of BTC contracts) * (change in price), the orderbook straightforwardly displays a number of BTC futures, and that closing a position just means selling off the number of BTC contracts you own.

Why FTX is Uniquely Good and Hard to Replicate

FTX Token (FTT) Coin is backed by Alameda Research, a thought leader and the largest liquidity provider in the secondary markets. This means:

Live Product

FTX Token (FTT) Coin Unlike many exchanges and projects who are issuing a token raise, our exchange is already live and actually functional. 

Liquidity

FTX Token (FTT) Coin is very liquid.  It’s already more liquid than every other futures exchange in crypto; only the BitMEX BTC perpetual futures are more liquid than FTX.  This is really hard to replicate. No new exchanges will be able to, and those around for 5 years have only succeeded it doing it for a single contract.

Domain Expertise

FTX Token (FTT) Coin was designed by people who really know the products. Everything from collateral to maintenance margin to liquidation process to product offering was redesigned from the ground up by the heaviest user of the products

Team FTX Token (FTT) Coin

FTX Token (FTT) Coin come from leading Wall Street quant firms and tech companies – Jane Street, Optiver, Susquehanna, Facebook, and Google.

FTX Token (FTT) Coin
  • bitcoinBitcoin (BTC) $ 56,572.00
  • ethereumEthereum (ETH) $ 4,515.13
  • binance-coinBinance Coin (BNB) $ 616.46
  • tetherTether (USDT) $ 1.00
  • solanaSolana (SOL) $ 225.39
  • cardanoCardano (ADA) $ 1.53
  • xrpXRP (XRP) $ 0.969513
  • usd-coinUSD Coin (USDC) $ 0.999088
  • polkadotPolkadot (DOT) $ 35.40
  • dogecoinDogecoin (DOGE) $ 0.205653
  • avalanche-2Avalanche (AVAX) $ 116.96
  • terra-lunaTerra (LUNA) $ 64.26
  • shiba-inuShiba Inu (SHIB) $ 0.000043
  • crypto-com-chainCrypto.com Coin (CRO) $ 0.710757
  • matic-networkPolygon (MATIC) $ 2.11
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 56,476.00
  • litecoinLitecoin (LTC) $ 202.89
  • binance-usdBinance USD (BUSD) $ 0.999004
  • algorandAlgorand (ALGO) $ 1.89
  • chainlinkChainlink (LINK) $ 24.65
  • bitcoin-cashBitcoin Cash (BCH) $ 564.57
  • uniswapUniswap (UNI) $ 21.96