Proof of Usefulness Report

Fastex

Analysis completed on 2/3/2026

+565
Proof of Usefulness Score
Industry Mainstay

Fastex is a large-scale Web3 ecosystem backed by the established iGaming giant SoftConstruct. While the project demonstrates significant financial metrics (Fasttoken market cap ~$470M) and a broad ecosystem (Exchange, Bahamut Chain, ftNFT), the submission itself was of extremely poor quality, containing unverifiable and false claims (e.g., 'most people have used my product'). Furthermore, external due diligence reveals multiple 'High Risk' warnings and low trust scores for the exchange component. The score reflects the massive scale and corporate backing, heavily penalized for the misleading submission and regulatory/trust risks.

Ready to Compete for $150k+ in Prizes?

Move this data into a HackerNoon blog draft to become eligible for your share of $150k+ in cash and software prizes

View All Reports

Score Breakdown

Real World Utility+75.0
Audience Reach Impact+85.0
Technical Innovation+60.0
Evidence Of Traction+51.0
Market Timing Relevance+60.0
Functional Completeness+5.0
Subtotal+62.75
Usefulness Multiplierx0.90
Final Score+565

Project Details

Project URL
Description
Powered by IT giant SoftConstruct, Fastex is a Web3-driven solutions ecosystem offering a diverse product range. Our ecosystem operates as a branded house for Fastex products, including Fastex Verse, ftNFT marketplace, Fastex Chain, Fastex Pay crypto payment system, Fasttoken and Fastex Exchange crypto & fiat exchange platform. Opening up SoftConstruct’s vast network of over 7000 users and more than 500 partners, Fastex aims to provide effective solutions for businesses and communities and make Web 3.0 technologies more accessible than ever.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline