FTT is the native cryptocurrency token of the crypto derivatives trading platform FTX launched on May 8, 2019. The team behind FTX comprises some of the largest crypto traders over the past few years who, having found issues with most mainstream crypto futures exchanges, decided to launch their own platform. FTX claims that it stands out due to such features as clawback prevention, a centralized collateral pool, and universal stablecoin settlement. In regards to clawback prevention, a significant amount of customer funds on other derivative exchanges have been claimed by socialized losses. FTX reduces this by using a three-tiered liquidation model.