FTT Token

1. Summary

Ranks

Liquidity

-

Developer

-

Social

67

Momentum (beta)

0

Stack Rank™

-

Price

$0.000117770000 0.0%

Market Cap

$0.00 (#12188)

Supply

/

Tags

BNB Chain Ecosystem

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Price
52W High price	$0.000558531900
52W High date	2nd Nov 2023 (1 year ago)
All Time High (ATH) Date	12th Dec 2024 (5 months ago)
All Time Low (ATL) Date	12th Dec 2024 (5 months ago)

Supply & Trading Volume
Trading Volume (24h)	$554.00

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Description

FTT Token

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FTT Token

The Flash Technologies project aims to create a comprehensive money transfer ecosystem through its platform, Flash Transfer. This platform allows users to buy crypto with cash, transfer or sell cryptocurrencies for cash through a network of merchants, with reasonable fees. The native token of this ecosystem is the FTT Token, primarily used for governance purposes within the network.

In this ecosystem, FTT Token holders gain access to various features and services on the platform, often benefiting from lower trading fees and socialized gains from the insurance fund. The token serves as collateral for derivatives trading and is subject to a weekly repurchase and burning mechanism. This mechanism helps regulate the token supply, similar to other prominent platforms like Binance.

Functionality and Features

• Trading Discounts: FTT Token holders receive discounts on trading fees on the FTX exchange.
• Collateral: FTT Tokens can be used as collateral for derivatives trading on the platform.
• Insurance Fund: Token holders are eligible to receive socialized gains from the insurance fund, which is designed to prevent perpetual growth.
• Repurchase and Burning: The token supply is gradually reduced through a weekly repurchase and burning mechanism, funded by the fees collected by the exchange.

Further Details and History

• Launch Date: The FTT Token was launched on May 8, 2019.
• Initial Price: It initially traded at $1.72.
• Peak Value: The token reached its highest value of $79.60 in September 2021.
• Initial Functionality: The token was primarily designed to reward users of the FTX platform but expanded to include more features like staking and VIP rewards.

Key Players and Supporting Organizations

• Alameda Research: A prominent cryptocurrency liquidity provider and key player behind the FTX ecosystem.
• Supporting Investors: The project has secured significant investments from notable firms such as Softbank, Sequoia Capital, and others.

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