$FTT FTT token, fully known as FTX Token, is the global ecological token of the FTX digital currency derivatives exchange, which is the native token of the FTX platform. The FTT token was issued on July 29, 2019, with a total supply of 350,000,000 FTT. FTX is a digital currency derivatives exchange known for its low fees, tight spreads, and deep order books, with a maximum leverage of up to 101 times. As the only token of FTX, FTT will be used to support the entire FTX ecosystem, including for paying transaction fees, obtaining higher discounts, and participating in community governance of the FTX exchange, with voting rights and corresponding rewards.

The main features of FTT include:

• Transaction fee discounts: Users can pay transaction fees using FTT and enjoy higher discounts.

• Community governance: FTT holders can participate in the community governance of the FTX exchange, with voting rights and corresponding rewards.

• Buyback and burn: FTX will use a certain percentage of transaction fees and other revenues to buy back FTT and then burn it, thereby reducing the circulating supply and enhancing the value of FTT.

• Leveraged tokens: FTT is also used to create leveraged tokens, allowing traders to establish leveraged positions without margin trading.

• ERC-20 token: FTT is an ERC-20 standard token, but it also exists in an anchored form on the Solana blockchain and as a BEP-2 token on the BNB beacon chain.

Market performance and project development of FTT:

• The price and market performance of FTT will vary with the development of the FTX exchange and market sentiment. The value trend of FTT essentially follows the development of the FTX exchange.

• FTX maintains deflation through a mechanism of regularly destroying FTT every week, thereby maintaining the value of FTT.

• Since FTX applied for bankruptcy protection in November 2022, the market performance and project development of FTT has been affected. The new management of FTX reiterated that FTT no longer has utility, and the bankruptcy committee plans to liquidate the token to address claim issues.