SBF: If things go well, FTX may open USDT-to-equity token trading this week

Rhythm BlockBeats news, on November 16, FTX co-founder Sam Bankman-Fried conducted an online community AMA to interpret the development of FTX equity tokens.

SBF and FTX community partner Benson discussed how the platform selects equity tokens, FTX’s equity token advantages and A number of future plans are explored. At the same time, SBF also answered the questions that the community cares about.

At the beginning of the AMA, Benson gave some basic information and comments on the FTX equity token exchange for stocks and compliance that everyone is most concerned about. The method of operation is introduced. FTX equity token is a token that can be exchanged for 1:1 stock spot, and the holder can redeem the underlying stock from CM-Equity. CM-Equity is a company established in 2002 with a BaFin operating license from the German Financial Market Authority. Users participating in equity token transactions pass KYC L2 certification, and then FTX users actively submit applications, and FTX will pass the files to CM-Equity.

The following is the content of community questions and answers, organized by Rhythm BlockBeats:

1. What are the selection criteria for FTX equity token listing?

SBF: will first consider the most After popular stocks and stocks that have attracted much attention and discussion have a large scale, the way of voting for listing will be opened, and the community will decide on the equity tokens that will be listed. In fact, we are also open in this regard. If you have other better stock recommendations or online selection methods, you can also suggest them to FTX.

2. Is there a 30% tax deduction for dividends?

SBF:The current dividend is Dividends paid in full, that is, pre-tax dividends. Because FTX is a global platform, users need to understand how dividends are taxed in their location.

3. What are the advantages of using FTX equity tokens to purchase equity compared with other platforms?

SBF: Users can use various methods for equity transactions, deposits and withdrawals, such as legal currency, cryptocurrency, and credit card etc.; secondly, FTX has a risk engine (risk engine), which helps users improve capital utilization when doing leverage operations; another advantage is that users can seamlessly connect with existing cryptocurrency quantitative trading tools (such as BU Grid Exchange, 3Commas, etc.), which gives FTX an advantage over other platforms.

4. Can USDT be used for equity token transactions?

SBF: This transaction is not currently supported, but this service will be opened in the future. We are now negotiating with the development team and partners, and if all goes well, we will launch USDT trading pairs for equity tokens this week.

5. Do you consider providing some equity token gadgets on the website to assist investment? Such as automatic scheduled investment, automatic dividend input, etc.

SBF: We will arrange for this. At present, there are some tools on the market that can help users invest, such as BitUniverse’s grid trading, etc., but they have not yet been able to share the framework, which will be developed in the future.

6. Is there any chance for FTX's own equity to join the equity token transaction?

SBF: I can't promise anything but we are analyzing the feasibility of this thing and I think we are This can be done (open FTT to equity trading pairs). However, it is usually very complicated to conduct a global operation. Our compliance procedures follow the policy requirements of Germany, which means that it is currently impossible to provide such services to US users. Therefore, it is still necessary to solve the compliance issues in the United States, so there is no problem in opening relevant token trading pairs.

7. FTX now has equity token transactions, will there be other financial derivatives transaction services in the future?

SBF: Yes, the future We will consider expanding transaction services to more aspects. The goal of FTX is to provide users with various product transactions to meet user needs. Therefore, if users have strong requirements, whether it is foreign exchange or precious metals and other products, FTX will consider continuing to expand.

8. FTX’s equity trading can continue to trade after the US stock market closes. How does FTX determine the after-hours trading price?

SBF: FTX’s equity tokens can be exchanged for Stocks, so users can make a guess after the market closes, how the stock price will go after the market opens, which will also affect the price of equity tokens. This also creates an arbitrage space for traders after the market, and balances the price by operating on the prediction after the market opens.

9. How does FTX convert equity tokens into stocks?

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SBF: Users who need to exchange need to register with CM-Equity, and then transfer the equity token In the past, the exchange was done within the CM-Equity account.

10. Will Serum DEX have equity tokens in the future?

SBF: Regarding policies and regulations Saying that this is a very complicated question, I can't give you an answer 100%. But Serum is an open platform where anyone can create trading pairs. But I wouldn't be surprised if there are equity tokens or similar deals on Serum in the next few years. Regulatory issues still need to be considered.

11. Can users transfer equity tokens to the cold wallet?

SBF: is achievable. The team is still discussing how to transfer equity certificates in compliance. Since the transaction of the equity certificate requires the user to complete the KYC standard certification, the team is also considering how to confirm that the owner of another address to which the user transfers the equity certificate also meets the KYC requirements.

12. Does FTX plan to make derivatives based on existing equity tokens?

SBF:Yes, you can Do perpetual contract and spot leverage. As long as users have trading needs, FTX can attach equity tokens to other derivatives for everyone to trade.

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