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.