1.    Project Name:  

FTX Token（FTT）
 
2.    Project Introduction:

FTT is the backbone of the FTX ecosystem. We have carefully designed incentive schemes to increase network effects and demand for FTT, and to decrease its circulating supply.

The utility of FTT includes:
1)    Token Burn
One third of all fees generated on FTX will be used for an FTT repurchase, until at least half of all FTT is burned. Any FTT bought this way will be burned.
2)    Collateral
FTT can be used as collateral for futures positions. This increases utility and demand for FTT. The same applies when we launch margin trading in the future.
3)    Discount on Trading Fees
Customers who hold a certain amount of FTT for a period of time will receive lower FTX futures fees. This will further increase demand for FTT.
4)    OTC rebates
Customers who hold enough FTT will receive rebates from all of their OTC trading on FTX.
5)    OTC burn
  There will be a repurchase and burning of FTT based on OTC volumes and revenue from the FTX OTC portal, powered by Alameda Research.
6)    Socialized Gains
We’ve performed backtests and live simulations to see how FTX will fare during large market movements. While other futures exchanges suffered from clawbacks, FTX managed to net increase their insurance fund by a sizeable amount thanks to its unique backstop liquidity provider program. For instance, during a recent market move, Okex incurred ~$3 million of clawbacks. Meanwhile, our demo simulation which mirrored positions on OKEx demonstrated no clawbacks and a net gain of a million to our insurance fund. We are confident in FTX’s ability to handle endangered accounts and will redistribute a portion of net insurance fund gains to FTT holders.
7)    Future Expansion
FTT is the backbone of the FTX ecosystem. There are many ways FTT will be used as we add more products and features to FTX. For instance, when we launch a spot exchange in the future, FTT will be used for initial exchange offerings.

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error, or omission. Huobi does not take responsibility for any resulting direct or indirect losses.

Trade on the go with Huobi Global App (iOS/Android)

Find us on

Twitter: https://twitter.com/HuobiGlobal

Facebook: https://www.facebook.com/huobiglobalofficial/

Instagram: https://www.instagram.com/huobiglobalofficial/

Reddit: https://www.reddit.com/r/HuobiGlobal/

Medium: https://huobiglobal.medium.com/

Telegram: 

https://t.me/huobiglobalofficial

https://t.me/huobiofficial

https://t.me/HuobiFutures_en

Huobi Global reserves the right in its sole discretion to amend, revise or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and Huobi Global makes no recommendations or guarantees in respect of any digital asset, product, or promotion on Huobi Global. Prices of digital assets are highly volatile and trading digital assets is risky. Please read our Risk Remindertext here.