If you’re interested in becoming a member of the crypto community and investing in cryptocurrency, it’s essential to understand who the major players are in the industry and what projects they have going on. The more up-to-date you are in the latest crypto creations and innovations, the better your chance of making profitable and successful investments. FTX is one of those significant players in the crypto space, and its new FTX token holds many benefits for its users. Here’s a quick look at the new FTX token and the unique benefits it offers to its users.
What is FTX?
FTX is one of the most popular crypto exchanges in the world. Backed by Alameda Research, the FTX platform has massive liquidity, making it a unique and innovative space for crypto trading. The FTX team is actively working on improving their own exchange but also building the Serum DEX. The Serum DEX project is meant to create a more user-friendly and beneficial decentralized exchange for traders. FTX has recently created a new token called FTT, which is the backbone of the entire FTX ecosystem. FTT was built with many perks in mind but also to be beneficial as a factor within the entire FTX environment.
You may have many questions about FTT and its specific benefits for its investors. The whitepaper of the token will outline all of the goals and motivations behind the creation of the token, but here are a few of those benefits.
Because FTT is integral to the FTX platform as a whole, all holders of FTT will receive fee discounts through the FTX platform. Whether you’re trading, minting NFTs, or more, you will receive fee discounts if you hold FTT.
Burn mechanisms are also an essential benefit that can be built into the design of a new token. Burning crypto means you are permanently taking a certain amount of coins out of circulation to maintain the value of the remaining tokens. These automatic burn mechanisms can protect user interest and maintain a beneficial coin value at all times. The new FTT token is built with regular burn, where one-third of all FTX fees are used to purchase back FTT specifically to be burned. This practice supports users and protects the market capitalization of the token.
One of the unique benefits of the new FTX token is the creation of a community of crypto BFFs. As an investor in FTT, you can apply to become a crypto BFF and gain access to exclusive events, get free swag, and participate in the crypto community surrounding FTX. Crypto BFFs can not only attend these exclusive events, but they can also host their own events where they can educate and encourage new traders to participate in the FTX ecosystem. As a crypto BFF, your ideas and input are essential to the team at FTX. BFFs are encouraged to share their insights and ideas at FTT events, where they can potentially help shape the future of the token. Access to a strong community of crypto enthusiasts and experts can offer you insight into new investment opportunities and can teach you much more about the industry and the community’s long-term goals.
FTX is a rapidly growing crypto environment with lofty goals for the future and tremendous potential for growth. Crypto investors should consider the unique benefits of investing in FTT and the advantages it will give them within the FTX platform.