What is Fasttoken (FTN)?

TLDR
Fasttoken (FTN) is a utility token powering an ecosystem spanning gaming, DeFi, and payments via its native blockchain Bahamut, which uses a unique consensus mechanism to reward developers and validators.

1. Core Purpose: Designed as the economic backbone for Bahamut blockchain and Fastex’s web3 products.
2. Technical Innovation: Uses Proof of Stake & Activity (PoSA), rewarding developers for creating high-usage smart contracts.
3. Ecosystem Reach: Integrated across 300+ websites, including iGaming platforms and payment gateways.

Deep Dive

1. Purpose & Value Proposition

FTN serves as the native currency for Bahamut, an EVM-compatible layer-1 blockchain. Its primary role is to incentivize decentralized app (dApp) development through its unique Proof of Stake and Activity (PoSA) mechanism. Unlike traditional proof-of-stake systems, PoSA rewards validators based on both their token stake and the “activity” of their deployed smart contracts (measured by gas fees spent by users). This creates a flywheel where developers are motivated to build widely adopted tools.

FTN also acts as the utility token for Fastex’s ecosystem, enabling payments, staking, and cross-chain operations across platforms like the NFT marketplace ftNFT, DeFi protocol PercentMe, and crypto debit cards.

2. Technology & Architecture

Bahamut’s EVM compatibility allows seamless migration of Ethereum-based dApps. Key technical differentiators:
- PoSA Consensus: Validators earn higher rewards for deploying smart contracts with real user activity.
- Unified Account System: Simplifies access to Fastex’s products (exchange, NFT marketplace, gaming hub) with a single wallet.
- Fast Channels: A layer-2 solution for microtransactions, reducing costs by processing transactions off-chain while maintaining security.

3. Ecosystem Fundamentals

FTN’s utility extends across:
- Payments: Accepted by 10+ gateways (MoonPay, Alchemy Pay) and physical/digital stores via Fastex Crypto Cards.
- DeFi: Powers stable-rate lending via PercentMe and liquidity pools with ~40M FTN currently staked.
- Collectibles: Backs limited-edition FTN Notes – physical banknotes authenticated onchain.
- Gaming: Used in blockchain-based games and a Steam-like web3 gaming hub.

Conclusion

Fasttoken combines blockchain innovation with tangible use cases, bridging decentralized finance and mainstream adoption through its activity-driven consensus and multi-industry integrations. How will its focus on developer incentives and real-world utility shape its role in the evolving web3 economy?