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FTX Is Evolving Faster Than Any Other Bitcoin Exchange

From trading OIL Futures to democratising algorithmic trading, FTX has got it all.

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Key Takeaways

  • FTX is adding new features at an unprecedented pace.
  • The exchange was quick to launch OIL Futures after the Oil crash.
  • Quant Zone is bringing algorithmic trading to the masses.

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FTX, a Hong Kong-based crypto derivatives exchange, has introduced several new features after its best month yet in terms of the trading volume.

In April, FTX launched FTX Pro App, Volatility Tokens, Oil Futures, and several new additions to its spot market. The exchange also launched the FTX Quant Zone, a tool that enables traders to build and share trading strategies.

New Products Coming to FTX

The rise of the FTX exchange has been making headlines all throughout 2020, with the company continuing to scale both its features list and its volume with each passing month.

While April has been a significant month for the exchange according to its Monthly Digest report, there’s room for further growth in May. 

Aside from a new and improved native FTX Pro mobile app, which is set to be released both on iOS and Android, the exchange also released several new products. 

Half Tokens (HALF) are versions of FTX’s tokens that use 50% leverage, with ETHHALF being 50% ETH and 50% USD. The tokens rebalance at the end of each day to return their target leverage.

BVOL/iBVOL Tokens represent a broad set of long or short positions on the FTX MOVE contracts, which represent close to perfect volatility in Bitcoin’s price. 

BVOL token price. Source: CoinGecko

FTX Features to Harness Huge Volumes

Last month, FTX added Oil Futures to their ever-growing list of products, with OIL tokens behaving like futures that expire to the spot price of WTI oil +$100.

Multiple other spot markets have also been added over the last month. This includes USDT pairs for over 75% of spot markets, as well as Chainlink and Tron spot, perpetual futures, and quarterly futures markets.

Custom logins enable users to configure special account permissions that allow others to access their accounts, while an improved toggle feature makes switching between sub-accounts faster and easier. 

However, one of the most important additions to the company is the Quant Zone, a tool that allows users to build and share their own trading strategies.

FTX described it as “algorithmic trading brought down to the level of Lego building blocks” and said it was one of the most underrated aspects of FTX. 

Quant Zone allows anyone to build crypto trading strategies without programming knowledge.

In the following weeks, users will be able to allow subscribers access to the trading algorithms they’ve built in FTX’s Quant Zone and get paid in FTT, the exchange’s native token.

Professional traders will also be able to make trades for their “subscribers” and earn commissions in FTT. It is not dissimilar from eToro’s social trader tool.

Charts showing the accumulated volume on BTC markets on FTX
Accumulated volume on BTC markets on FTX.

In its report, the company said that its spot volume has increased by over 10x in April. 

While many have criticized the exchange for the unpredictability and volatility of their trading products, it’s the pace of development and innovation that has pushed FTX’s volume through the roof

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