Fasttoken
Fasttoken
FTN
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Fasttoken Token allocation
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Fasttoken Info
Fasttoken Intro
Fasttoken (FTN) is the native cryptocurrency of the Bahamut blockchain, a Layer 1, EVM-based public blockchain. Fasttoken initially began as an ERC-20 token within the Fastex ecosystem but transitioned to Bahamut after the launch of its mainnet on May 3, 2023. The migration of FTN from Ethereum to Bahamut is still ongoing.
One of the key features of Bahamut is its Proof of Stake and Activity (PoSA) consensus mechanism, which rewards validators based on both their stake and their activity on the network. This innovation ensures active participation while maintaining network security.
Fasttoken is currently integrated across 10+ payment providers, such as MoonPay and Alchemy Pay, making it highly versatile for use in gaming, e-commerce, and other Web3 applications. As of October 2024, Fasttoken is listed on over 17 exchanges, and approximately 40 million FTN tokens are locked via Bahamut's staking mechanisms, boosting the growth of the token and network. Additionally, 120 million FTN tokens were burned in October 2023 to mint new validation rewards on the Bahamut network, reducing the total supply to 880 million.
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Fasttoken Token allocation
Q&A about Fasttoken Tokenomics
The Fasttoken (FTN) distribution is structured to support various segments of the Bahamut and Fastex ecosystems, with a total supply initially set at 1 billion FTN. After a token burn in October 2023, the supply was reduced to 880 million FTN.
Here is an overview of the key allocations:
- 6% (52.8 million FTN) was allocated to the Presale, with a vesting period of 9 months.
- 8% (70.4 million FTN) was distributed during Private Sale Phase 1, with a 12-month lockup, followed by 10% monthly unlocks.
- 10% (88 million FTN) was assigned to Private Sale Phase 2, also with a 12-month lockup, followed by 10% monthly unlocks.
- 1% (8.8 million FTN) was made available in the Public Sale, released immediately.
- 10% (88 million FTN) is set aside for Marketing and was released immediately.
- 12% (105.6 million FTN) was reserved for the Blockchain, to cover the needs of the Fastex Chain.
- 20% (176 million FTN) is allocated to Founders, locked for 24 months, with 10% unlocking monthly after the lockup.
- 3% (26.4 million FTN) is reserved for Advisors, locked for 12 months with 10% unlocking monthly.
- 6% (52.8 million FTN) for Partners, released immediately.
- 24% (211.2 million FTN) supports the broader Ecosystem, released immediately.
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Fasttoken (FTN) is the native cryptocurrency of the Bahamut blockchain, a Layer 1, EVM-based public blockchain. Fasttoken initially began as an ERC-20 token within the Fastex ecosystem but transitioned to Bahamut after the launch of its mainnet on May 3, 2023. The migration of FTN from Ethereum to Bahamut is still ongoing.
One of the key features of Bahamut is its Proof of Stake and Activity (PoSA) consensus mechanism, which rewards validators based on both their stake and their activity on the network. This innovation ensures active participation while maintaining network security.
Fasttoken is currently integrated across 10+ payment providers, such as MoonPay and Alchemy Pay, making it highly versatile for use in gaming, e-commerce, and other Web3 applications. As of October 2024, Fasttoken is listed on over 17 exchanges, and approximately 40 million FTN tokens are locked via Bahamut's staking mechanisms, boosting the growth of the token and network. Additionally, 120 million FTN tokens were burned in October 2023 to mint new validation rewards on the Bahamut network, reducing the total supply to 880 million.