Klever Wallet Adds New FTX (FTT) Swap Pairs

Klever Wallet Adds New FTX (FTT) Swap Pairs

To support our community we have introduced 12 new FTT (ERC20) swap pairs.

Available FTX (FTT) ERC20 Swap pairs: 

  • FTT/USDT (TRC20)
  • FTT/USDT (ERC20)
  • FTT/BNB (BEP2)
  • FTT/BNB (BEP20)
  • FTT/BUSD (BEP20)

What Is FTX (FTT)?

In May 2019, the crypto derivatives trading platform FTX launched the native cryptocurrency token FTT.

FTX was founded by some of the largest crypto traders over the past few years, after they found issues with most mainstream crypto futures exchanges, and decided to build their own platform. FTX claims it is unique because of features like clawback prevention, a centralized collateral pool, and universal settlement.

With regard to clawback prevention, a substantial amount of customer funds have been claimed by socialized losses on other derivative exchanges. FTX uses a three-tiered liquidation model to reduce this.

Existing crypto futures exchanges fragment collateral across multiple token wallets, making it difficult for traders to liquidate positions. For example, FTX derivatives require a single universal margin wallet since they are stablecoin-settled.

Leveraged tokens are another FTT feature, which enables traders to put leveraged positions without having to trade on margin. Traders who want to short Bitcoin with 3x leverage can simply buy a 3x short Bitcoin leveraged token on FTX. A number of spot exchanges will list these tokens since they are ERC-20 compatible. Leveraged tokens currently offered by FTX include XRP, BNB, TRX, BTC, ETH, EOS, USDT, and LEO.

FTX Token Founders: Who Are They?

Sam Bankman-Fried and Gary Wang founded FTX Token.

FTX: Cryptocurrency Derivatives Exchange is owned and run by Sam Bankman-Fried, the company’s chief executive. Furthermore, he is the CEO of Almeda Research and worked at the Centre for Effective Altruism as the director of development. 

Bankman-Fried studied physics at the Massachusetts Institute of Technology and graduated with a bachelor’s degree.

FTX: Cryptocurrency Derivatives Exchange was founded by Gary Wang as co-founder and chief technology officer. He is also CTO of Almeda Research. Previously, he was an intern at Google and then worked as a software engineer. Before that, he worked as an intern for Facebook.

He graduated from the Massachusetts Institute of Technology with a Bachelor’s degree in mathematics and computer science.

FTX Token: What Makes It Unique?

FTX is backed by Almeda Research, which is considered one of the world’s top cryptocurrency trading companies and a leading liquidity provider.

FTX, as a result, is designed by industry professionals with proven expertise. Multiple services are covered: collateral, maintenance margin, liquidation processes, and product listings. Also, FTX claims to have a fast development cycle, allowing it to deploy crypto trading systems quickly.

Klever Swap

Klever Swap is a core service of the Klever app that makes it simpler, faster, and more convenient for our users to exchange cryptocurrencies at the click of a button. By monitoring live price action on top-tier exchanges, our native Swap engine creates a price index that is used by the Swap.

The swap itself is conducted by fully autonomous bots, built and maintained in-house by Klever’s developers’ team. These bots continuously seek the best exchange rate and prices among the top exchanges, and then execute the Swap with high precision, security and speed. The Klever Swap project is part of Klever Exchange.

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Disclaimer: This article is for informational purposes only. The information does not constitute an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Klever.Finance does not provide financial, tax, legal, or accounting advice. There is no responsibility on the part of the company or the author for any loss or damage arising from or related to the use of or reliance on any content, goods or services mentioned in this article.

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