Why does FTX burn FTT?

FTX will buy FTT on its FTT/USD market. Bought FTT will be burned on a weekly basis in accordance with a schedule adopted by FTX . The current schedule typically starts at 10pm UTC+8 each Monday, with purchased tokens burned by 11:59pm UTC+8 Tuesday.

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What is FTT staking?

Staking FTT gives the following benefits: Increased referral rebate rates : referrers that stake FTT are paid a higher fraction of their referees’ fees. Maker fee (override): Stakers has a new make fee schedule that overrides the normal fee schedule (in addition to the standard FTT fee discounts).

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