- FTX Equity (FTX_EQUITY) is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated or otherwise established in, or a resident of the United States of America, you are not permitted to transact in FTX_EQUITY.
- FTX_EQUITY is not currently tradeable on any platforms and no refunds will be issued for FTX_EQUITY purchases.
- This page is merely indicative; for the full FTX_EQUITY terms, see the Token Purchase Agreement and Equity Token Terms, available in your wallet if you click 'CONVERT' on FTX_EQUITY.
FTX users are now able to purchase the FTX Equity token (FTX_EQUITY)!
Updates March 28th, 2020
The FTX_Equity raise is closed.
Updates March 2nd, 2020
We're excited to announce the following updates to the FTX_EQUITY raise:
- We have gathered soft commitments that bring us into our target range for this raise!
- Relatedly, we are approaching our hard cap.
- The deadline for purchasing FTX_EQUITY is March 7th, 2020 or whenever we hit our hard cap, whichever comes first.
- We are excited to welcome Liquid Value as a partner in this raise!
Who Can Purchase FTX_EQUITY?
In order to purchase FTX_EQUITY:
- You must not be in the United States or other prohibited jurisdictions.
- You must be at least KYC level 2.
- The minimum purchase size for FTX_EQUITY is $250,000 worth (125,000 FTX_EQUITY).
- You must agree to the Token Purchase Agreement and Equity Token Terms, available in your wallet if you click 'CONVERT' on FTX_EQUITY.
When Can You Purchase FTX_EQUITY?
You can purchase FTX_EQUITY on your FTX wallet starting now. The sale of FTX_EQUITY will end sometime between March 1st 2020 and March 7th 2020 depending on supply and demand.
What is FTX_EQUITY?
FTX_EQUITY is the FTX Equity Token. FTX_EQUITY represents an ownership stake in FTX Trading LTD (FT), the Antigua company that owns the FTX trading platform.
Owning FTX_EQUITY confers the same economic rights as owning equity shares of FT, and FTX_EQUITY can be traded up into equity shares of FT in lots of 1,250,000 FTX_EQUITY tokens or more. Furthermore owning FTX_EQUITY will confer the same ownership rights over FT. However, FTX_EQUITY does not have the same voting rights as equity shares in FT, and FTX_EQUITY holders will appear in an omnibus line on the FT register of members rather than individually.
If and when dividends are paid out by FT, FTX_EQUITY holders will receive their share of those dividends in their FTX account.
Note that through FT, FTX_EQUITY gives ownership of the FTX exchange, Leveraged Tokens, and stakes in potential whitelabels of FTX, but does not grant ownership of FTT or any potential onshore US operations.
Note that FTX_EQUITY is not tradeable on FTX or any other platform and is not withdrawable from FTX. Over the next few years we will strongly consider allowing for FTX_EQUITY to trade.
What is the Cost of FTX_EQUITY?
Each FTX_EQUITY costs $2 and represents 1 part in 500,000,000 interest in FT, in line with a $1b equity valuation for FTX.
How Can You Purchase FTX_EQUITY?
In order to purchase FTX_EQUITY:
- Go to your FTX wallet.
- Search for FTX_EQUITY.
- Click CONVERT.
- Enter the desired amount of FTX_EQUITY and the purchase price currency. You must purchase at least $250,000 of FTX_EQUITY.
- Click that you agree to the Token Purchase Agreement and Equity Token Terms.
- Click CONVERT in the lower right hand corner of the dialog box to complete the purchase.
Note that you can purchase FTX_EQUITY with FTT, USD, BTC, or other tokens. There is also a small bonus for purchasing with FTT.
How About Equity Shares?
If you would like standard FTX equity shares rather than FTX_EQUITY, there is a minimum purchase size of $2,500,000, along with an associated set of compliance, KYC, and paperwork. The jurisdictional requirements are also potentially different. The economic terms are the same as for FTX_EQUITY. If you would like to purchase equity, please contact us at email@example.com.
Note that equity will likely also only be offered until early March.