The solemn ceremony recently organized by Fastex, awarded 230.000 FTN equivalent around 200 million AMD to 103 people representing Armenian sports around the world, among them athletes, their coaches and medical staff. FTN is the native currency of Bahamut blockchain, which is used to carry out diverse transactions.
The cooperation announced back at the beginning of the year between Fastex, the RA Ministry of Education, Science, Culture and Sports, as well as “Olympionic” sports charitable foundation, not only laid ground for this event, but for the upcoming initiatives to be regularly held during the next four years. Both parties aim to contribute to the development of sports in the Republic of Armenia, foster the competitiveness of athletes and improve their living conditions, as well as promote the victories recorded in the domestic and international sports arena. Karen Giloyan, Deputy Minister of RA MօESCS, referred to this important cooperation in his speech.
“Within the cooperation with Fastex, an unprecedented amount of money will be distributed in the history of Armenian sports. We will have this contribution within the next few years. Based on our agreement, 70% of the total amount will be allocated to reward athletes, team head coaches, second and personal coaches, as well as the doctors. This award is Fastex’s initiative, according to the state standards and equivalent to state rewards. I hope this will be a new incentive for our athletes to achieve more victories and success on their journey. The other 30% of the total amount will be allocated to the organization of diverse sports events. Within the upcoming year, Yerevan will host the FIBA U20 EuroBasket, Division B, and the right to hold it has already been confirmed. The event will be held in Yerevan in 2025. Aside from this, CEV U18 Volleyball European Championship, European Karate Championship, Sports Dance World Cup Competition, as well as Ice Hockey World Championship Division D will be held.”
“Ahead of the Olympic Games to be held in Paris, we want to emphasize and appreciate the work of not only our famous Armenian athletes, but also the work of their coaches and doctors who contribute to their success. These kinds of events will take place twice a year during the upcoming four years,” said the Co-Founder of Fastex Vigen Badalyan.
“I would like to congratulate our athletes for their victores. It is important to keep our flag up during international competitions. Fastex always supports the growth of Armenian sports. Until 2030, Fastex will allocate 5 million FTN to support Armenian sports. Today we are making the first steps in this long journey. We are thankful to the athletes and highly appreciate their work,” said Vahagn Badalyan, the co-founder of “Badalyan Brothers” group of companies.
It is important to note that according to the agreement signed at the beginning of the year, Fastex will support the athletes and their coaches, who took 1-3 places in olympic, paralympic, sword olympic games, in sports included in the Olympic Games program, as well as in the international tournaments not included in the Olympic Games program, such as sambo wrestling, international checkers, wushu and chess sports.
5 million $FTN have been segregated from the general circulation in the registry of digital transactions (blockchain) and securely frozen until 2030. The latters will be distributed based on the pre-defined conditions on smart contracts. This approach encourages the fair and transparent allocation of funds on beneficiaries’ digital wallets.
About Fastex
Fastex is the all-encompassing ecosystem that redefines the Web3 experience. Fastex stands at the forefront of blockchain and AI technology, seamlessly blending vast opportunities within a unified and user-friendly environment, such as Fastex Exchange, Fastex Pay crypto payment gateway, and the e-commerce platform - ftNFT Marketplace with phygital spaces. Fastex distinguishes itself by prioritizing regulatory compliance, ensuring a secure and reliable experience for all users in the evolving landscape of Web3.