In this article, we will explain how we treat IEOs at FTX if you connect with FTX via API.
For the IEOs at FTX, a trader could apply with FTT token on top of USD.
Upon a successful allocation, in FTX, the allocation is represented as follows, and unfortunately, there's no immediate way to associate those two representations.
- Conversion from USD to the IEO coin
- Withdrawal of FTT token
What we do
Given this background, we treat an IEO as follows if you applied with FTT token as well, to match with what you observe in FTX:
- Buy IEO coin with USD
- Sell FTT token at 0 price
We do not warrant any outcome caused by this rule. Please find our terms and conditions for detail.