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A predetermined percentage of FTX fees is used to buy back FTT which is then "burnt". Open market buy backs are equivalent to dividends. So FTT has a yield meas
by nroets 4y ago
A predetermined percentage of FTX fees is used to buy back FTT which is then "burnt". Open market buy backs are equivalent to dividends. So FTT has a yield measured in dollars.
- funstuff007 4y agoBut you never get access to those dollars. You end up owning a scarcer magic bean. And dividends are not equivalent to share buy backs--both from a tax perspective and from a forced diversification perspective.