Fasttoken
FTN
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Fasttoken (FTN) is the native utility token powering the Bahamut Layer-1 blockchain and the broader Fastex/SoftConstruct ecosystem, focused primarily on gaming and betting use cases. The weighted average evaluation yields a score of 4.4/10 across all six sections with no data gaps.
Key weaknesses across the project include extreme centralization and low organic community engagement, with the top 5 Ethereum addresses holding over 99.8% of bridged tokens and an insider-heavy initial distribution offering only 1% to the public. Tokenomics are further burdened by circulating supply opacity and ongoing dilution overhang from founder unlocks. On the security front, the project lacks verifiable third-party smart contract audits for its L1 chain and bridge wrappers, alongside a steep ~96.5% drawdown from all-time highs. On the positive side, the ecosystem maintains an active commercial integration footprint and a clean track record regarding major protocol-level hacks or regulatory enforcement actions.
No qualifying red-flag cap was triggered as no specific named hack, hostile delisting, or enforcement proceeding was established.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Fasttoken (FTN)
Fasttoken (FTN) is the native utility token of the Bahamut blockchain and the broader Fastex and SoftConstruct ecosystems. Launched in 2022, Bahamut is an EVM-compatible Layer-1 blockchain operating on a Proof of Stake and Activity (PoSA) consensus mechanism, which evaluates validator ranking according to contract activity. FTN serves as the settlement and gas currency for the blockchain while also functioning as a utility and discount asset across the Fastex exchange, NFT marketplace, and partner gaming and betting platforms. In addition to its native implementation, FTN exists as a bridged token across networks including Ethereum, Base, BNB Smart Chain, and Arbitrum.
The project was established under Malta-registered operations led by Founder and CEO Vigen Badalyan. FTN has a maximum supply of 1 billion tokens and a total supply of approximately 880 million. Distribution of the token was structured with heavy insider allocations, reserving only 1% for public sale while assigning 20% to founders and the remainder across ecosystem and private pools. On-chain metrics for the bridged ERC-20 contract on Ethereum reflect extreme token concentration, with the top five addresses controlling approximately 99.84% of the bridged supply.
FTN has experienced substantial market and operational challenges. The token suffered a price crash of approximately 96.5% from its all-time high of $4.61 down to around $0.16. In addition, the project faces data opacity issues, including conflicting self-reported circulating supply figures across major data aggregators and ongoing dilution risks from scheduled founder token unlocks. Publicly verifiable third-party smart contract audits for the Layer-1 network and its bridge wrappers are absent, and code development relies on private infrastructure rather than open-source repositories. While no protocol exploits, hacks, or formal regulatory actions have been documented, its primary use case in the online betting sector carries ongoing regulatory exposure.