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Editorial policyFastex is a Web3 solutions ecosystem founded by Vigen Badalyan in 2017, encompassing the FTN token, ftNFT, FastexVerse, and a derivatives exchange among other offerings. It is developed and supported by SoftConstruct to provide integrated crypto, NFT, metaverse, and payment services.
Fastex operates as a broad Web3 solutions ecosystem that consolidates multiple services under a single brand, including the FTN token, ftNFT offerings, and the Fastex Verse metaverse. The project is developed and maintained by SoftConstruct, a software development company.
Established in 2017 by Vigen Badalyan, Fastex functions as a cryptocurrency derivatives exchange that supports spot and OTC trading across numerous crypto and fiat pairs. The platform offers a variety of order types—limit, stop-limit, market, stop-market, trailing stop, trailing stop-limit—and provides a trading API. Futures and leveraged token products are listed as planned additions. A Fastex wallet is intended to serve as a single wallet for the Fasttoken ecosystem, integrating the NFT marketplace, Fastex payments, and multiple decentralized applications.
Fastex also delivers a consolidated payment services framework that spans online payment gateways and hardware payment terminals. The ecosystem includes cryptocurrency ATMs that enable direct conversion of crypto to cash with immediate fiat withdrawals. This payment layer works alongside the Fastex exchange so users can operate from the same wallet for both fiat and cryptocurrency transactions.
Bahamut is an EVM-compatible layer 1 blockchain that uses a consensus model named Proof of Stake Activity (POSA). The Bahamut Chain launched its Sahara Mainnet on May 3, 2023, introducing an execution layer called Caravan and a consensus layer named Bedouin.
Because Bahamut aligns closely with EVM standards, developers can build and deploy decentralized applications using familiar languages and toolchains. Leveraging EVM compatibility alongside PoSA, Bahamut aims to provide a scalable and secure network suitable for a variety of decentralized applications and use cases.
Introduced in 2022, ftNFT is an NFT marketplace intended to make digital asset technology accessible to both seasoned users and newcomers. The platform offers an in-ecosystem marketplace as well as physical NFT retail locations in the UAE, enabling users to buy and sell digital items within the Fastex environment.
In March 2023, Fastex took the ftNFT marketplace into a Phygital NFT Space located in Dubai Mall. The store is designed as an interactive venue where visitors can experience NFTs in person and learn about the technology behind them.
The Phygital NFT Space also provides virtual reality services and metaverse-related offerings, such as 3D avatars and virtual rooms.
FastexVerse is the metaverse component of the Fastex ecosystem, allowing users to create and use 3D avatars to interact with Fastex’s digital environment and access its services without switching sites or currencies.
Built internally on top of the Panda MRB2B metaverse platform by SoftConstruct, FastexVerse offers a unified virtual space for navigating and engaging with the ecosystem’s products and features.
Cerebrum is a platform designed to help businesses of varying sizes digitize their operations by providing tools to manage companies from a three-dimensional virtual space. It aims to improve digital presence and create interactive experiences for customers.
Through Cerebrum, users can acquire virtual real estate, display and sell products and services, and host events such as concerts, exhibitions, and virtual tours.
Fasttoken (FTN) is the native token of the Fastex ecosystem and serves as the native currency of the Bahamut blockchain. On Bahamut, FTN functions as the gas unit and supports staking, block creation, validation processes, and cross-chain operations. FTN was originally issued as an ERC-20 token and operates as a utility token across SoftConstruct’s suite of products and services, enabling settlement of business and personal transactions within that ecosystem.
The FTN token sale was organized into four stages: presale, private sale phase 1, private sale phase 2, and public sale. The opening exchange rate was set at 1 FTN = €0.15. The lowest pricing during the sale was reserved for members of the SoftConstruct network workforce and their close relatives. During the sale, 30% of the total token supply was offered, with proceeds earmarked for improving product delivery rates, marketing, PR, brand recognition, and expanding the Fasttoken team to accelerate development and delivery.
Both fiat and major cryptocurrencies were accepted during the FTN Token Sale. As an ERC-20 token, FTN is compatible with any supporting wallet. The public sale was executed as an IEO and followed the payment and wallet requirements imposed by the Exchange handling the offering.
Fasttoken underwent a security audit by CertiK in October 2022, which identified four issues; three of those were resolved and one was acknowledged. In the same month, Hexens conducted an audit that found seven issues, all of which were resolved.
FAQ
Fastex is a Web3 solutions ecosystem founded by Vigen Badalyan in 2017, encompassing the FTN token, ftNFT, FastexVerse, and a derivatives exchange among other offerings. It is developed and supported by SoftConstruct to provide integrated crypto, NFT, metaverse, and payment services.
Fastex DeFi Ecosystem uses a consensus mechanism to validate and finalise transactions. Validators or node operators confirm blocks, and the network's state is updated accordingly. Users interact with Fastex DeFi Ecosystem via wallets that support the network's RPC endpoint.
Fastex DeFi Ecosystem hosts a growing ecosystem of DeFi applications including decentralised exchanges (DEXs), lending protocols, yield aggregators, liquid staking solutions, and stablecoins. The total value locked across these protocols can be tracked on DeFiLlama's Fastex DeFi Ecosystem chain page.
Assets can be bridged to Fastex DeFi Ecosystem via official cross-chain bridges or third-party aggregators such as Stargate, Across Protocol, or Li.Fi. Always use official or audited bridges, verify contract addresses independently, and start with a small test transfer before moving larger amounts.
Fastex DeFi Ecosystem has a native token used to pay transaction gas fees and, in many cases, participate in network governance or staking. Check the official Fastex DeFi Ecosystem documentation for the current token ticker, total supply, and staking yield.
Transaction costs on Fastex DeFi Ecosystem depend on network congestion and the complexity of the operation. Layer-2 networks typically offer significantly lower fees than Ethereum mainnet. Current gas prices can be checked via the network's block explorer or a gas tracker tool.
Fastex DeFi Ecosystem has its own architecture and may offer Ethereum compatibility via an EVM-compatible execution environment. Check the official documentation for details on cross-chain interoperability and supported standards.
Fastex DeFi Ecosystem is designed to process transactions quickly, with block times and throughput significantly higher than Ethereum mainnet for Layer-2 solutions. Performance specifications including transactions per second (TPS) and average finality time are published in the official Fastex DeFi Ecosystem documentation.
Fastex DeFi Ecosystem is distinguished by its specific consensus mechanism, virtual machine, developer tooling, and ecosystem focus. Key differentiators may include throughput, fee levels, decentralisation trade-offs, and the maturity of its DeFi ecosystem. Reviewing independent comparisons on DeFiLlama and Messari provides objective data.
To begin using Fastex DeFi Ecosystem, install a compatible wallet (MetaMask works for EVM-compatible chains), add the Fastex DeFi Ecosystem network via its official RPC settings, and acquire the native token for gas. Most networks have a dedicated faucet for test tokens on their testnet. Visit the official Fastex DeFi Ecosystem website for a step-by-step onboarding guide.
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