Decentralized blockchain lottery project FTW has announced the upcoming deployment of its new smart contract on October 24th, 2018. Upon the launch of the smart contract, FTW will conduct a 1:1 token swap from its existing “FTW” token to an upgraded “FTX” token, and begin trustless OTC trading through its FTXChange smart contract on the NEO MainNet.
FTW:FTX Token Swap
FTW will be conducting a 1:1 swap of its current FTW token for an upgraded “FTX” token. FTW’s token swap may be conducted through the FTW wallet. The upcoming FTX token is said to contain improvements that make it transferable in smart contracts. The total supply of the FTX token is said to be 51,000,000 after a token burn.
FTW’s “FTXChange” is a decentralized OTC trading platform that allows for NEP-5 trades to be enforced via smart contract, without using an escrow. Users may place or take offers to trade approved NEP-5 tokens against FTX tokens, CNEO, and CGAS assets. The FTXChange contract is free for market makers, with a 0.5% fee for market takers.
FTX holders who have temporarily locked their FTX in the FTXChange smart contract are eligible to collect a cut of the trading fees. FTW has announced that more details will be forthcoming at the exchange’s launch.
FTW Lottery v2
Finally, FTW have made mention of an upcoming FTW Lottery version 2 smart contract, which aims to add support for multiple prize pools using other NEP-5 tokens.
FTW’s full announcement can be viewed at the following link: https://medium.com/ftw-blog/introducing-ftx-ftxchange-374c954b3417?_branch_match_id=532265173335293250
More information on the FTW project may be found through the links below.