This is an internal token of the ftx platform, it works as a method of trust and method of profit opting, in addition the exchange will allocate 33% of the total profits generated in its markets for the repurchase of tokens and burn them thus reducing the total offer
In general it is a value token that will allow you to earn interest by holding.
It is also important to note that binance is a minority shareholder of this project, which gave it strength in its value and capitalization price.