Fasttoken (FTN) powers the Bahamut blockchain, a Layer 1 (L1) public network compatible with the Ethereum Virtual Machine (EVM). FTN is central to the blockchain's ecosystem, supporting its technological framework and decentralised applications (dApps).
Bahamut’s Proof of Stake and Activity (PoSA) consensus mechanism brings in scalability and compatibility with smart contracts dApps, while FTN functions as the platform's gas unit, facilitating staking, block creation, validation processes and cross-chain operations.
FTN has a total supply of 880 million tokens, with a maximum cap of 1 billion. The token is widely integrated into various online industries, including gaming and e-commerce, and is utilised by over ten popular payment providers, such as MoonPay, Alchemy Pay and Simplex by Nuvei.
The project’s native FTN token also drives the Fastex ecosystem, a Web3 platform integrating several blockchain-based and crypto-related services. Bahamut is a key player in fostering the growth of web3 and dApp development, with the platform regularly launching grants programs funded by FTN.