Cryptocurrency exchange built by traders, for traders
FTX token is a cryptocurrency exchange token that was founded by Sam Bankman-Fried and Gary Wang. The exchange is backed by Almeda Research, which is one of the largest cryptocurrency market makers. The exchange aims to become an easy to use trading platform for both first timer and professional traders. FTX allows users to spot trade leverage token instead of using margin or futures trading. For example, when a user decided to go long on Ethereum, he can just place a spot buy of 3x leverage Ethereum Bull token. These leverage tokens are ERC-20 tokens, which can be withdrawn on transferred from one exchange to another.
FTT is the native currency for FTX exchange which funnels the value across the platform. Its use cases are for discounted trading fees, staking rewards and collateral for traders to increase their position.
Coinbase Ventures, Sequoia Capital, Bond, 40 North Ventures, Senator Investment Group, Willoughby Capital, VanEck, Alan Howard, Lightspeed Ventures Partners.