Fasttoken (FTN)

Utility in the Fastex Ecosystem

Fasttoken is the native utility token of the Fastex ecosystem and the Bahamut blockchain. It is used to power various operations such as staking, block creation, and validation on the Bahamut network, which uses a unique Proof of Stake and Activity (PoSA) consensus mechanism.

Payments and Transactions

Fasttoken is accepted for payments across multiple online platforms, including e-commerce websites and gaming services. It allows users to make purchases and conduct transactions smoothly within the Fastex ecosystem and SoftConstruct network.

Staking and Rewards

Users can stake Fasttoken to participate in securing the Bahamut blockchain. Staking helps validate blocks and maintain network security, and participants can earn rewards for their contributions.

Cross-Chain and Blockchain Services

Fasttoken supports cross-chain transactions and serves as the gas token for the Bahamut blockchain, enabling decentralized applications and blockchain-based services within the ecosystem.

Trading and Conversion

Fasttoken is actively traded on various exchanges, allowing users to buy, sell, or convert it for other cryptocurrencies. It is also used in crypto reward programs and can be swapped or converted easily on platforms like Bitget.

Adoption and Reach

Fasttoken is integrated into over 300 websites worldwide, with a growing community and increasing real-world use cases in business, gaming, and online services.

Pros

• Strong Ecosystem Backing: Fasttoken is supported by a large ecosystem including a metaverse, NFT marketplace, and financial products, offering many use cases.
• Developed by a Reputable Company: Created by SoftConstruct, a well-known tech giant with over one million active users and many partners.
• Utility and Versatility: Used for transactions, staking, block creation, validation, and cross-chain operations within the Bahamut blockchain and Fastex ecosystem.
• Low Transaction Costs: Fasttoken transactions generally cost less than those on the base Ethereum blockchain.
• EVM Compatibility: Built on an Ethereum Virtual Machine (EVM)-based blockchain, allowing easy integration with existing Ethereum tools and smart contracts.
• Used in Gaming and iGaming: Accepted on some crypto casinos and gaming platforms, expanding its practical use.

Cons

• Market Volatility: Like most cryptocurrencies, Fasttoken’s value can change quickly due to market forces.
• ERC-20 Token Roots: Initially an ERC-20 token, which means it depends on Ethereum’s network and fees before full migration to Bahamut.
• Dependent on Ecosystem Growth: Its success relies on the continued development and adoption of the Fastex ecosystem and related projects.
• Requires Compatible Wallets: Users need wallets that support Fasttoken, which may limit accessibility for some beginners.

Founders

Fasttoken was founded by Vigen Badalyan, who is also the CEO. He has a background in blockchain and gaming industries and has founded several companies related to gaming and betting.

Investors in Fasttoken

Fasttoken has raised funds through private sales and token generation events. Key investors include:

• Partners and Selected Investors: Early private sales offered Fasttoken at exclusive prices to Softconstruct's partners and selected investors.
• Web 3 Strategic Investors and Venture Capital Firms: The second phase of the private sale attracted reputable Web 3 ecosystem investors and venture capital firms.
• Gaming Partners: Over 100 gaming partners have adopted Fasttoken as their in-game token, showing strong industry support.

These investors helped raise over $23 million to support Fasttoken's development and ecosystem growth.

Halal Status of Fasttoken

• Yes, Fasttoken can be considered halal if it meets Shariah compliance criteria.
• This means the project behind Fasttoken should avoid interest (riba), gambling (maysir), and uncertainty (gharar), and should be transparent and ethical in its operations.
• Since there is no official, universally accepted list including Fasttoken specifically, it is best to verify its compliance through trusted halal crypto screening platforms or consult a qualified Islamic scholar.

For more detailed and updated information, checking specialized halal crypto lists or platforms that review tokens for Shariah compliance is recommended.