Fasttoken

Fasttoken (FTN) is the native coin of the Bahamut blockchain, a public, EVM-compatible layer-1 blockchain that uses the Proof of Stake and Activity (PoSA) consensus mechanism. FTN facilitates key blockchain functions, including staking, transaction validation, and cross-chain operations. It is also integrated into the Fastex ecosystem, which includes applications in iGaming, decentralised finance (DeFi), and other sectors.

On October 26, 2023, 120 million FTNs were burned and subsequently minted on Bahamut as validation rewards. This process supports network participants and contributes to the overall stability of the blockchain.

FTN is used for various purposes within the Bahamut blockchain and its ecosystem, including:

• Transaction fees: Used to pay for transactions on the Bahamut blockchain and supported platforms.
• Staking: Enables users to stake FTN to participate in network security and earn rewards.
• Governance: FTN holders can engage in governance decisions within the Bahamut ecosystem.
• Utility in DeFi: Used within decentralised finance applications for different financial functions.
• In-game transactions: Facilitates purchases, rewards, and participation in gaming applications.

FTN is also integrated with multiple payment providers, including MoonPay, Alchemy Pay, and Simplex by Nuvei, enabling broader utility and accessibility.