Yerevan Hosts Harmony Meetup 7 Amidst Crypto Innovations
From July 8 to 11, the Armenian capital of Yerevan emerged as a focal point in the cryptocurrency sector, demonstrating how tangible collectibles, regulated payment systems, and on-chain finance can work together harmoniously. The Harmony Meetup 7 event gathered industry partners, developers, and leaders, including representatives from crypto exchange Fastex, to share a unified vision aimed at constructing a more practical and accessible decentralized future. The gathering also featured speakers from notable companies such as Fireblocks, which specializes in digital asset infrastructure, and Arculus, known for its digital security solutions. Additionally, former Manchester United footballer Patrice Evra participated as an ambassador for the fitness application YoHealth.
FTN Notes: Transforming Digital Value into Physical Collectibles
A significant highlight of the event was the introduction of FTN Notes, a collection of physical banknotes that are each fully backed by the FTN cryptocurrency at a 1:1 ratio. This initiative, which took a year to develop, incorporates advanced anti-counterfeiting features such as holograms and unique serial numbers, with authenticity assured by the verification firm Authentix. Fastex CEO Vakhtang Abrahamyan noted that the production of these notes is restricted to a mere 10 million units, representing only 1% of the total FTN supply, to maintain their exclusivity. “These are not ordinary notes for everyday transactions,” Abrahamyan stated. “They serve as gifts, memorabilia, or collectibles.” He further mentioned that the demand for these notes is exceeding initial expectations, leading the team to consider how to manage allocations fairly to ensure widespread ownership.
Addressing DeFi Challenges with Innovative Solutions
On the decentralized finance front, Fasttoken program leader Pavel Aramyan addressed the current issue of “unstable interest rates” that is impacting DeFi lending. He proposed PercentMe, a decentralized borrowing and lending protocol on the Bahamut blockchain, as a potential remedy that offers stable-rate loans. This protocol, built on Bahamut’s proof-of-stake-and-activity (PoSA) consensus mechanism, allows borrowers to have predictable repayment terms, enabling effective financial planning.
Enhancing Crypto Usability with the Fastex Card
In an exclusive conversation with Cointelegraph, Aramyan elaborated on how PoSA incorporates activity metrics into traditional staking. Validators who frequently utilize smart contracts earn activity points, enhancing their chances of block proposal and increasing staking rewards. To streamline the usability of digital assets, the upgraded Fastex Card was unveiled, developed in partnership with card technology provider Monavate. This card directly connects to the user’s Fastex Exchange account, allowing for real-time cryptocurrency spending without the necessity of converting to fiat currency first. Meri Mirijanyan, the head of payments at Fastex, remarked, “The Fastex crypto card connects digital assets with everyday transactions, transforming cryptocurrency into a functional currency for daily use.” For premium users, a high-end metal card featuring built-in cold wallet storage, protected by three-factor authentication, is available through Arculus.
Fastex’s Commitment to a Sustainable Crypto Ecosystem
Harmony Meetup 7 showcased a comprehensive view of an ecosystem dedicated to sustainable growth, emphasizing Fastex’s foundational technology, practical utility token, tangible products, and a strong network of partners. By highlighting these interconnected components, Fastex illustrated its dedication to moving beyond theoretical concepts and providing real, tangible benefits.
