​The FTX Token (FTT) is an ERC20 token on Ethereum and an SPL on Solana. It serves as the native token of the FTX Derivatives Exchange. FTX is a centralized venue focused on derivatives and leveraged offerings. The exchange went live in 2019, and its team includes people from major technology firms such as Facebook, Google, Jane Street, Optiver, and Susquehanna. The platform provides easy-to-use desktop and mobile apps, supports several order types, and is designed to work for both newcomers and experienced traders.

What are FTX’s key features and how does it work?

​​FTX Exchange includes a set of core products. These are futures, leveraged tokens, options, MOVE, and spot markets.

For futures, traders can place both long and short positions in cryptocurrencies. Users may access more than 100 quarterly and perpetual futures pairs, with margins reaching up to 101x. Collateral such as stablecoins-USD and USDT-is used to open and maintain positions.

Leveraged tokens are another offering. FTX provides ERC20-based tokens that can deliver up to 3X leveraged exposure relative to an underlying trading pair. For instance, if a trader buys a BULL/USD - 3x long Bitcoin token and Bitcoin increases by 10% after purchase, the leveraged token would rise by 30%. Leveraged tokens on FTX do not require margin.

Options let traders speculate on where prices may go in the future and also help hedge existing positions. FTX supports a variety of call and put options that grant the right, without the obligation, to buy or sell at a future strike price.

The MOVE feature on FTX lets traders create contracts that predict how much a cryptocurrency’s price will change within a set period. If the asset moves beyond a defined dollar amount-either upward or downward-traders can earn a profit.

FTX also supports more than 100 spot market trading pairs. Among the available assets are widely used cryptocurrencies including Bitcoin, Ethereum, Binance Coin, Chainlink, and Ripple's XRP.

Staking is a significant part of the platform. FTT can be staked to receive a variety of rewards, such as higher referral rates, free NFTs, bonus votes in pools, waived blockchain fees, and IEO tickets for IEOs conducted on FTX. The platform also provides a number of free ERC20 and ETH withdrawals each day. FTT tokens can only be withdrawn from staking after 14 days.

What can the FTX Token be used for?

The FTT token can be used to cover trading Fees: FTX futures trading fees are lower, and OTC spreads are tighter compared to other similar crypto exchanges.

FTT can also be used for white label services and as collateral for futures trading. This supports the platform’s goal of driving long-term demand for FTT. Additionally, upcoming projects may pay a fee with FTT to help create leveraged token listings backed by their own coin.

Where can you buy FTX?

FTX can be purchased on the CEXs and DEXs shown here.