FTX is a centralized cryptocurrency exchange (CEX) that focuses on derivatives trading. It was launched in 2019 by Sam Bankman-Fried and Gary Wang. Both are MIT alums with extensive experience working in big firms before founding FTX. The CEX is backed by high-profile investors like Alameda Research, BlackRock, Temasek, Coinbase Ventures, etc. In 2022, it is recorded that the exchange has more than a million registered users and billions of USD in daily trading volume.
FTX offers a variety of innovative products and services, including Futures, Perpetual Futures, Options, Prediction Market, Tokenized Stocks, Leveraged Tokens, etc. These tools are more targeted towards advanced users and institutional traders. There are also special algorithms in place to ensure high liquidity and prevention of clawback (the use of other investors' money to cover one investor's bankruptcy). Besides, 1% net fee of FTX is dedicated to charitable causes. Since 2020, more than $10 million has been donated to charities.
FTT is the native token of the FTX exchange that follows the ERC-20 standards. It has a number of use cases on the exchange, consisting of fee reduction, airdrop rewards, governance, and better referral bonus.
To keep FTT an anti-inflationary token, FTX implements frequent burns.
At the moment, the maximum supply of FTT is 352,170,015, and the circulating supply is 133,975,252.66.
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