FTX.com Overview and Referral Benefits

Ftx.com Logo

Enjoy 5% fee reduction on trades when you sign up with FTX.com with the referral link. Terms and conditions apply.

The 5% fee reduction on trades when you sign up with a referral link is a standard offer. You will not be able to find other referral links that offer a higher fee reduction.

Distinguish between FTX.com, FTX.us and FTX

These are three separate platforms under the same parent company.

  1. FTX.us: targeted at users in USA and not covered in this website.
    • corresponding mobile app is ‘FTX.US Pro’
  2. FTX.com: meant for international users.
    • corresponding mobile app is ‘FTX Pro’
  3. FTX (formerly Blockfolio):
    • corresponding mobile app is ‘FTX’
    • to avoid confusion, I will refer it as ‘FTX App’ throughout the site.
FTX three apps
Three different apps in the app store

Notes:

  • users have to sign up for each platform separately.
  • trading on FTX App is supported by FTX.com or FTX.us, depending on where the user is from.
Table of Contents

Company

Founded in 2019 by Sam Bankman-Fried and Gary Wang, FTX is headquartered in the Bahamas.

Investors

  • FTX raised $400 million from investors at a valuation of $32 billion [Jan 2022]
    • funding round included investments from Singapore’s Temasek Holdings and SoftBank
  • FTX raises $566m in funding round co-led by Singapore investment company Temasek [Oct 2021]
    • Crypto firm FTX Trading has raised fresh capital at a valuation of US$25 billion (S$33.7 billion), making it one of the most richly valued crypto start-ups.
  • FTX raised $900 million from the likes of Coinbase Ventures and SoftBank at an $18 billion valuation [Jul 2021]

Key metrics

  • averaging about US$14 billion a day in daily volumes. [Oct 2021]

Notable Events

  • Liquid Group and all of its operating subsidiaries including Quoine Corporation and Quoine Pte. Ltd. in Singapore are being acquired by FTX Trading Ltd. [Feb 2022]
    • The acquisition is expected to close in March 2022, subject to customary closing conditions being satisfied.
    • Following FTX’s acquisition of Liquid, Quoine will gradually integrate FTX’s products and services into its own offering, and FTX’s existing Japanese customers will be migrated to Quoine’s platform.
  • Headquarters moved from Hong Kong to Bahamas [Sep 2021]

Presence in Singapore

Unknown

Regulation by Monetary Authority of Singapore (MAS)

Unknown

Ecosystem

FTX Token (FTT)

FTX Token (FTT) is the backbone of the FTX ecosystem.

According to data published on WhaleStats.com, FTT is consistently among the top few tokens held by Ethereum whales in terms of dollar value. Currently #3 on 5 June 2022 at 18.46% (~$795 million).

Staking/Unstaking FTT

Unstaking FTT takes 14 days. FTT scheduled for unstaking will not contribute to staking rewards. You can pay a fee to unstake immediately.

Staking FTT gives the following benefits:

  • Increased referral rates: referrers that stake FTT are paid a higher fraction of their referees' fees
  • Maker fee rebates: stakers get maker fee rebates (in addition to the standard FTT fee discounts) . These rebates stack with MM-level based maker rebates.
  • Free swag NFTs: stakers can spin the non-fungible swag wheel for a chance to win a free NFT, redeemable for FTX-themed swag or resellable at the NFT marketplace.
  • Bonus votes: stakers get bonus votes in polls (in addition to the standard number of votes, based on FTT held and trading volume)
  • Increased airdrop rewards: stakers get increased SRM airdrops (and potentially later other airdrops and yield)
  • Waived blockchain fees: stakers get a number of free ERC20 and ETH withdrawals per day
  • Waived fiat fees: stakers get an extra free fiat withdrawal per week
  • IEO tickets: stakers get tickets for IEOs hosted in FTX

βœ”οΈ Unique Selling Proposition (USP)

Free blockchain deposits and withdrawals

There are no fees on deposits and withdrawals, except for ETH, ERC-20 tokens, or small BTC withdrawals. FTX users will pay the blockchain fees for all ETH, ERC20 tokens unless they have FTT staked. See details and other exceptions.

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