[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  CryptoJournaal [@CryptoJournaal](/creator/twitter/CryptoJournaal) on x 18.6K followers Created: 2025-07-09 11:14:03 UTC #FTXToken ( $FTT ) - #Explainer 💡 What is FTX Token ( $FTT )? FTX Token ( $FTT ) is the native cryptocurrency of FTX, a centralized cryptocurrency exchange launched in May 2019 by Sam Bankman-Fried and Gary Wang. FTX quickly grew to become one of the largest derivatives exchanges in the crypto world, focusing on innovative trading products such as futures, leveraged tokens, and options. $FTT was introduced as the "backbone" of the FTX ecosystem and played a central role in driving user participation and generating value within the platform. However, after the spectacular collapse of FTX in November 2022, in which the company went bankrupt and billions in customer funds were lost, the status and utility of $FTT drastically changed. Let's explain this step by step. #CryptoEcosystem ⚙️ How did $FTT work before the collapse? Originally, $FTT had several functions within the FTX ecosystem, making it attractive for traders and investors: 🔸Trading fee discounts: Holders of $FTT could receive discounts on trading fees on the FTX platform. The more $FTT you held, the greater the discount, with a maximum of XX% for large holders. 🔸Collateral for futures: $FTT could be used as collateral for futures positions, providing traders with flexibility in leveraging (using leverage). 🔸Token burns: FTX used a portion of the generated trading fees (33%), net additions to the insurance fund (10%), and other revenues (5%) to buy back and "burn" ($FTT). This mechanism was designed to reduce the circulating supply and increase the value of $FTT in the long term. 🔸Socialized profits: A small portion of profits from major market movements was distributed to $FTT holders through the insurance fund, making the token a passive income source. 🔸Staking benefits: By staking $FTT, users could unlock additional benefits, such as higher discounts, bonus votes in governance-like decisions, and participation in airdrops or IEOs (Initial Exchange Offerings). 🔸Leveraged tokens: FTX offered unique leveraged tokens (e.g., 3x long or short Bitcoin), and $FTT was used to create these and pay listing fees for new projects. The token was an ERC-20 token on the Ethereum blockchain, but it also had versions on Solana (as a wrapped token) and the BNB Chain (as a BEP-2 token). The total supply was set at approximately XXX million $FTT, with a circulating supply that gradually increased through issuance to early investors and liquidity providers. #BlockchainInnovation 🪙 The role of $FTT The $FTT token had several functions within the FTX ecosystem: 🔸Trading fees: Relayers, who managed the off-chain order books, were paid in $FTT as compensation for their services. This encouraged liquidity and participation in the network. 🔸Governance: $FTT holders could vote on proposals for protocol upgrades and changes. This made it a decentralized governance system where the community had influence over FTX's future. 🔸Staking: Since an update in 2019, $FTT holders could delegate their tokens to market makers (liquidity providers) to earn passive rewards. This encouraged the provision of liquidity, which was essential for a well-functioning trading environment. #Tokenomics 🛠️ Key Features: 🔸Decentralized exchange: FTX was one of the largest platforms for crypto derivatives, with $FTT playing a fundamental role in the operation of the ecosystem. 🔸Interoperability: $FTT was traded on several blockchains, such as Ethereum, Solana, and the BNB Chain, and could be used by multiple platforms. 🔸Central value in the ecosystem: $FTT served as the backbone of the FTX platform, giving it a key role in the operation and liquidity of the exchange. 🔸Use in DeFi: Before the collapse, FTX was actively involved in DeFi integrations, with $FTT playing an important role in various DeFi applications. #BlockchainProgress 📜 History and Development: 🔸Foundation and growth: FTX was launched in 2019 and quickly grew to become one of the largest and most innovative crypto exchanges, with $FTT as the central element of the platform. 🔸Insolvency and bankruptcy: In November 2022, FTX went bankrupt, leading to a loss of trust in the platform and a drastic decline in the value of $FTT. The fall of the platform resulted in the loss of billions of dollars in customer funds. 🔸Funding and exit strategies: Before the collapse, FTX raised billions of dollars from investors and was seen as one of the fastest-growing crypto platforms. #CryptoHistory 💸 Tokenomics 🔸Total supply: There is a maximum supply of XXX million $FTT tokens, of which approximately XXXXX million tokens are in circulation (as of March 2025). 🔸Emission rate: After the collapse, few new tokens were issued, and the circulating supply has largely remained constant. 🔸Market capitalization: The market capitalization of $FTT varies, but currently fluctuates between $XXX million and $XXX million, depending on market conditions. #MarketAnalysis ✅ Advantages of $FTT before the collapse: 🔸Low fees: Users could reduce trading fees by holding $FTT, making it attractive for traders. 🔸Staking: Through staking, users could generate passive income while strengthening the platform's liquidity. 🔸Innovation: FTX was a pioneer in offering leveraged tokens and other innovative products, with $FTT playing a key role in the ecosystem. #DeFiApplications ⚠️ Disadvantages and challenges: 🔸No utility anymore: After the collapse of FTX, $FTT has no practical use within an operational ecosystem. 🔸Legal uncertainty: The legal proceedings surrounding the FTX bankruptcy estate create uncertainty about the future of $FTT. 🔸Loss of trust: The fall of FTX severely damaged trust in $FTT, causing it to be primarily traded speculatively. #CryptoChallenges 🛠️ Applications and Adoption: Since the collapse, $FTT is still traded on some exchanges, but its applications are minimal. 🔸Speculative trading: The trading of $FTT is now driven by speculation, with many traders buying the token in hopes of temporary price increases. 🔸Recovery rumors: There are rumors about a possible return of FTX as "FTX 2.0," which caused temporary price spikes, but these are usually short-lived. #DeFiAdoption 📊 Price and market performance: The price of $FTT is highly volatile and peaked at $XXXXX in September 2021. As of March 2025, the price fluctuates between $2-$3, a dramatic drop since the collapse. #MarketVolatility 🔮 Future outlook: The future of $FTT is uncertain and depends on legal and speculative developments: 🔸Bankruptcy proceedings: It is possible that $FTT will be liquidated to compensate creditors, further decreasing its value. 🔸Speculation: The price of $FTT may still be influenced by speculation and rumors about a possible restart of FTX. #DeFiFuture 🎯 Conclusion: FTX Token ( $FTT ) was once a promising altcoin within one of the largest crypto exchanges. However, the collapse of FTX in 2022 has wiped out the utility and trust in $FTT, causing the token to be primarily traded speculatively. The future of $FTT remains uncertain, and it currently offers little intrinsic value for investors. #CryptoConclusion 🤝 New Partnership: WEEX Exchange x @CryptoJournaal We’re excited to announce our official partnership with WEEX — and that means massive rewards for YOU! 💥 💰 New users can claim up to $XXXXXX USDT in total bonuses: 🔐 XX USDT → secure your account 📥 Up to XXXXX USDT → deposit to futures wallet + start trading 📊 Up to XXXXXX USDT → futures trading volume rewards 🎯 All rewards stack – up to $30K total! 🟡 Use invite code bwbg to activate your bonus 👉 #Exchange #Rewards #Trading #Futures #Leverage 📚 Useful sources and additional information: Want to dive deeper into the world of #FtxToken or looking for the latest updates and developments? These links will help you stay up to date: 🔹X (Twitter): @FTX_Official #CryptoResources #StayInformed ⚠️ Important note: 🔹 This post is for educational purposes only and not financial advice! 🔹 Invest only what you're willing to lose: #Crypto-investments can be volatile, and you may lose part or all of your investment. 🔹 Always do your own research (#DYOR): Thoroughly research #crypto-assets, platforms, and wallets before investing. 🔹 Understand the risks of volatility: The value of #cryptocurrencies can change rapidly, so be prepared for price fluctuations. 🔹 Keep your private keys safe: Losing your private keys may lead to losing access to your crypto assets. 🔹 Use reliable platforms: Ensure you're trading crypto through reliable and regulated exchanges or wallets that meet the necessary security standards. #CryptoRules #CryptoSafety #CryptoRisks #Dyor  XXX engagements  **Related Topics** [ftt](/topic/ftt) [futures](/topic/futures) [exchanges](/topic/exchanges) [cryptocurrency](/topic/cryptocurrency) [token](/topic/token) [$ftt](/topic/$ftt) [ftx token](/topic/ftx-token) [coins defi](/topic/coins-defi) [Post Link](https://x.com/CryptoJournaal/status/1942905079561888060)
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
CryptoJournaal @CryptoJournaal on x 18.6K followers
Created: 2025-07-09 11:14:03 UTC
#FTXToken ( $FTT ) - #Explainer
💡 What is FTX Token ( $FTT )?
FTX Token ( $FTT ) is the native cryptocurrency of FTX, a centralized cryptocurrency exchange launched in May 2019 by Sam Bankman-Fried and Gary Wang.
FTX quickly grew to become one of the largest derivatives exchanges in the crypto world, focusing on innovative trading products such as futures, leveraged tokens, and options.
$FTT was introduced as the "backbone" of the FTX ecosystem and played a central role in driving user participation and generating value within the platform.
However, after the spectacular collapse of FTX in November 2022, in which the company went bankrupt and billions in customer funds were lost, the status and utility of $FTT drastically changed. Let's explain this step by step.
#CryptoEcosystem
⚙️ How did $FTT work before the collapse?
Originally, $FTT had several functions within the FTX ecosystem, making it attractive for traders and investors:
🔸Trading fee discounts:
Holders of $FTT could receive discounts on trading fees on the FTX platform. The more $FTT you held, the greater the discount, with a maximum of XX% for large holders.
🔸Collateral for futures:
$FTT could be used as collateral for futures positions, providing traders with flexibility in leveraging (using leverage).
🔸Token burns:
FTX used a portion of the generated trading fees (33%), net additions to the insurance fund (10%), and other revenues (5%) to buy back and "burn" ($FTT). This mechanism was designed to reduce the circulating supply and increase the value of $FTT in the long term.
🔸Socialized profits:
A small portion of profits from major market movements was distributed to $FTT holders through the insurance fund, making the token a passive income source.
🔸Staking benefits:
By staking $FTT, users could unlock additional benefits, such as higher discounts, bonus votes in governance-like decisions, and participation in airdrops or IEOs (Initial Exchange Offerings).
🔸Leveraged tokens:
FTX offered unique leveraged tokens (e.g., 3x long or short Bitcoin), and $FTT was used to create these and pay listing fees for new projects.
The token was an ERC-20 token on the Ethereum blockchain, but it also had versions on Solana (as a wrapped token) and the BNB Chain (as a BEP-2 token).
The total supply was set at approximately XXX million $FTT, with a circulating supply that gradually increased through issuance to early investors and liquidity providers.
#BlockchainInnovation
🪙 The role of $FTT
The $FTT token had several functions within the FTX ecosystem:
🔸Trading fees:
Relayers, who managed the off-chain order books, were paid in $FTT as compensation for their services. This encouraged liquidity and participation in the network.
🔸Governance:
$FTT holders could vote on proposals for protocol upgrades and changes. This made it a decentralized governance system where the community had influence over FTX's future.
🔸Staking:
Since an update in 2019, $FTT holders could delegate their tokens to market makers (liquidity providers) to earn passive rewards. This encouraged the provision of liquidity, which was essential for a well-functioning trading environment.
#Tokenomics
🛠️ Key Features:
🔸Decentralized exchange:
FTX was one of the largest platforms for crypto derivatives, with $FTT playing a fundamental role in the operation of the ecosystem.
🔸Interoperability:
$FTT was traded on several blockchains, such as Ethereum, Solana, and the BNB Chain, and could be used by multiple platforms.
🔸Central value in the ecosystem:
$FTT served as the backbone of the FTX platform, giving it a key role in the operation and liquidity of the exchange.
🔸Use in DeFi:
Before the collapse, FTX was actively involved in DeFi integrations, with $FTT playing an important role in various DeFi applications.
#BlockchainProgress
📜 History and Development:
🔸Foundation and growth:
FTX was launched in 2019 and quickly grew to become one of the largest and most innovative crypto exchanges, with $FTT as the central element of the platform.
🔸Insolvency and bankruptcy:
In November 2022, FTX went bankrupt, leading to a loss of trust in the platform and a drastic decline in the value of $FTT. The fall of the platform resulted in the loss of billions of dollars in customer funds.
🔸Funding and exit strategies:
Before the collapse, FTX raised billions of dollars from investors and was seen as one of the fastest-growing crypto platforms.
#CryptoHistory
💸 Tokenomics
🔸Total supply:
There is a maximum supply of XXX million $FTT tokens, of which approximately XXXXX million tokens are in circulation (as of March 2025).
🔸Emission rate:
After the collapse, few new tokens were issued, and the circulating supply has largely remained constant.
🔸Market capitalization:
The market capitalization of $FTT varies, but currently fluctuates between $XXX million and $XXX million, depending on market conditions.
#MarketAnalysis
✅ Advantages of $FTT before the collapse:
🔸Low fees:
Users could reduce trading fees by holding $FTT, making it attractive for traders.
🔸Staking:
Through staking, users could generate passive income while strengthening the platform's liquidity.
🔸Innovation:
FTX was a pioneer in offering leveraged tokens and other innovative products, with $FTT playing a key role in the ecosystem.
#DeFiApplications
⚠️ Disadvantages and challenges:
🔸No utility anymore:
After the collapse of FTX, $FTT has no practical use within an operational ecosystem.
🔸Legal uncertainty:
The legal proceedings surrounding the FTX bankruptcy estate create uncertainty about the future of $FTT.
🔸Loss of trust:
The fall of FTX severely damaged trust in $FTT, causing it to be primarily traded speculatively.
#CryptoChallenges
🛠️ Applications and Adoption:
Since the collapse, $FTT is still traded on some exchanges, but its applications are minimal.
🔸Speculative trading:
The trading of $FTT is now driven by speculation, with many traders buying the token in hopes of temporary price increases.
🔸Recovery rumors:
There are rumors about a possible return of FTX as "FTX 2.0," which caused temporary price spikes, but these are usually short-lived.
#DeFiAdoption
📊 Price and market performance:
The price of $FTT is highly volatile and peaked at $XXXXX in September 2021. As of March 2025, the price fluctuates between $2-$3, a dramatic drop since the collapse.
#MarketVolatility
🔮 Future outlook:
The future of $FTT is uncertain and depends on legal and speculative developments:
🔸Bankruptcy proceedings:
It is possible that $FTT will be liquidated to compensate creditors, further decreasing its value.
🔸Speculation:
The price of $FTT may still be influenced by speculation and rumors about a possible restart of FTX.
#DeFiFuture
🎯 Conclusion:
FTX Token ( $FTT ) was once a promising altcoin within one of the largest crypto exchanges.
However, the collapse of FTX in 2022 has wiped out the utility and trust in $FTT, causing the token to be primarily traded speculatively.
The future of $FTT remains uncertain, and it currently offers little intrinsic value for investors.
#CryptoConclusion
🤝 New Partnership: WEEX Exchange x @CryptoJournaal
We’re excited to announce our official partnership with WEEX — and that means massive rewards for YOU! 💥
💰 New users can claim up to $XXXXXX USDT in total bonuses:
🔐 XX USDT → secure your account
📥 Up to XXXXX USDT → deposit to futures wallet + start trading
📊 Up to XXXXXX USDT → futures trading volume rewards
🎯 All rewards stack – up to $30K total!
🟡 Use invite code bwbg to activate your bonus
👉
#Exchange #Rewards #Trading #Futures #Leverage
📚 Useful sources and additional information:
Want to dive deeper into the world of #FtxToken or looking for the latest updates and developments?
These links will help you stay up to date:
🔹X (Twitter): @FTX_Official
#CryptoResources #StayInformed
⚠️ Important note:
🔹 This post is for educational purposes only and not financial advice!
🔹 Invest only what you're willing to lose:
#Crypto-investments can be volatile, and you may lose part or all of your investment.
🔹 Always do your own research (#DYOR):
Thoroughly research #crypto-assets, platforms, and wallets before investing.
🔹 Understand the risks of volatility:
The value of #cryptocurrencies can change rapidly, so be prepared for price fluctuations.
🔹 Keep your private keys safe:
Losing your private keys may lead to losing access to your crypto assets.
🔹 Use reliable platforms:
Ensure you're trading crypto through reliable and regulated exchanges or wallets that meet the necessary security standards.
#CryptoRules #CryptoSafety #CryptoRisks #Dyor
XXX engagements
Related Topics ftt futures exchanges cryptocurrency token $ftt ftx token coins defi