To build off its early momentum, FTX revealed this week that it is selling its equity in the form of a new token: FTX Equity (FTX_EQUITY). According to the information page, each FTX Equity token costs $2 and represents a 0.0000002% interest in FTX Trading LTD (FT), the Antigua-based company that owns FTX, giving the startup a $1 billion valuation.
FTX Equity is now available to accredited investors outside the United States with a minimum investment size of $250,000. Participants can purchase FTX Equity with Bitcoin (BTC), FTX Token (FTT), USD or “other tokens.”
“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,” explained the FTX team. “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.”
FTX notes that FTX Equity holders will be entitled to any future dividend payouts that the company may pay.
The equity token sale is scheduled to end sometime between March 1 and March 7, depending on demand.
More: FTX Equity Information
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