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      FTX Token(FTT) Token burn 164,511 FTT ($7,290,000)

      https://s1.coincarp.com/logo/1/ftx-token.png?style=36's logo FTX Token(FTT)
      $1.6
      5.40%
      tokenómica

      Purpose of token burn

      FTX burns FTT tokens according to the following metrics:

      • 33% of fees generated on FTX markets
      • 10% of net additions to the backstop liquidity fund
      • 5% of fees earned from other uses of the FTX platform

      On a weekly basis (every Monday), FTX buys FTT from its FTX/USD market. Purchased tokens are burned every Tuesday at 11:59 PM HKT (KST - 1).

      This week, on December 7th, 2021, FTX burned 164,511 FTT tokens ($7,000,000 USD).

      Details

      Token: FTT

      Amount (Tokens): 164511.1

      Value in USD: 7290000.0

      Announcement Type

      Reporting Results

      Other relevant information

      On-chain Transaction Details

      • Tx Hash: 0x7d6c4b8aac541887b47c6c4921498fc1e3845294fe56a3bf45fbc067ec14fec7
      • Status: Success
      • Block Height: 13757583
      • Timestamp: Dec-07-2021 08:44:09 AM +UTC
      • Transaction fee: 0.0047373768 Ether

      FTT Tokenomics

      FTX has a total supply of approximately 350 million FTT tokens. Of those, 175 million tokens are company tokens that unlock over a three-year period. Assuming a linear lock-up release of FTT tokens, approximately 159,817 FTT is released every day.


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