FTN Fasttoken

Use Cases of Fasttoken

Fasttoken is utilized in various sectors within the Fastex ecosystem, including:

• E-commerce: It is used in e-commerce platforms, allowing users to make purchases and transactions seamlessly.
• Staking and Block Validation: FTN is used as a staking and block validation token, enabling users to contribute to the security of the Bahamut blockchain and earn rewards.
• Decentralized Applications: It fuels blockchain-based and blockchain-related apps within the Fastex ecosystem, supporting the development of decentralized applications (DApps).
• Gaming: FTN is integrated with gaming platforms, serving as an in-game token and enhancing user experiences in web3 gaming environments.
• Metaverse: It is used within the FastexVerse, a dedicated metaverse platform where users interact with the digital world of Fastex using 3D avatars.
• Financial Services: Fasttoken is integrated with various payment providers, including MoonPay, Alchemy Pay, and Simplex by Nuvei, facilitating transactions and financial services.
• Unified Payment System: It supports a unified payment system, allowing users to use the same wallet for both fiat and cryptocurrency operations.

Pros of Fasttoken

• Strong Ecosystem Backing: Fasttoken is supported by a robust ecosystem that includes a variety of services such as a metaverse, NFT marketplace, and financial products, making it a comprehensive platform for users.
• Innovative Projects: Fasttoken has been involved in innovative projects, including the development of a gaming metaverse and the introduction of new financial products, which can attract more users and investors.
• Consistent Performance: The token has shown consistent performance in the market, indicating a stable growth trajectory and strong investor confidence.
• Active Community: Fasttoken has a supportive and active community, which is crucial for the success of any cryptocurrency.

Cons of Fasttoken

• Market Volatility: Like most cryptocurrencies, Fasttoken is subject to market volatility, which can lead to significant price fluctuations.
• Dependence on Adoption: The demand for Fasttoken and its price can be heavily influenced by its adoption rate, which can be unpredictable.
• Whale Activity: Large holders of Fasttoken can significantly impact the price with their buying and selling activities, which can lead to market instability.
• Regulatory Uncertainty: Fasttoken, like other cryptocurrencies, may be affected by regulatory changes, which can impact its value and usage.

Founders of Fasttoken

Fasttoken was founded by Vigen Badalyan, who is also the co-founder of SoftConstruct, the incubator of Fastex. The core team includes:

• Armen Chakhoyan: Head of Project
• Vladimir Ighitkanyan: Development Team Lead
• Stepan Harutyunyan: Product Manager

These individuals play key roles in the development and management of Fasttoken and the Fastex ecosystem. The founders' allocation of Fasttoken includes 20% of the total supply, which was locked for 24 months and then unlocked at a rate of 10% per month.

Investors in Fasttoken

Fasttoken has attracted a variety of investors through different funding phases. Here are some key points about the investors:

• Private Sale Phases: The project has conducted two private sale phases. The first phase offered 8% of the total supply of FTN at €0.20 per token, with a maximum contribution of €250,000 per investor. The second phase offered 10% of the total supply at €0.25 per token, with a maximum contribution of €400,000 per investor.
• Presale: The presale phase accounted for 6% of the total supply, priced at €0.15 per token, and raised €9,000,000.
• Public Sale: The public sale accounted for 1% of the total supply, priced at €0.35 per token, and raised €3,500,000.
• Partners and Founders: The token distribution also includes allocations for founders (20%), advisors (3%), partners (6%), ecosystem development (24%), blockchain development (12%), and marketing and PR (10%).
• Total Funding: Fasttoken has raised a total of $53.5 million through various funding rounds.

Halal Status of Fasttoken

No, the halal status of Fasttoken is not explicitly mentioned in the provided sources. However, to determine if a cryptocurrency is halal, it must be screened against Shariah guidelines, ensuring it does not involve haram industries, excessive uncertainty, or interest (riba). Since Fasttoken is not listed in the halal cryptocurrency lists provided, its halal status cannot be confirmed without further evaluation.

Key Considerations for Halal Cryptocurrencies

• Project Evaluation: The project must not be associated with haram industries such as gambling, alcohol, or pork.
• Token Evaluation: The token's structure and reward system must comply with Islamic finance principles.
• Reward Systems: The rewards should not be considered as interest (riba) but rather as a benefit from a joint endeavor.
• Governance and Values: The blockchain platform's governance and values must be ethically sound.
• Transparency: The project must provide clear and transparent information about its operations and intentions.

Conclusion

Without specific information about Fasttoken's compliance with these criteria, its halal status remains uncertain.