It is a satellite of the Parouss constellation. These are military positioning satellites, used to give the position of Soviet and Russian submarines and ships. They have an accuracy of 100 meters, and are still operational today.

Faisat 2v (Final Analysis Inc. Satellite) was a 114.5 kg low-orbit communications minisatellite owned by Final Analysis Inc.

Final Analysis Inc. planned to deploy a 26-satellite constellation with 4 spares and 2 initial experimental satellites, providing low rate data and non-voice digital communications. It was intending to use its proprietary frequency sharing technique using both TDMA and CDMA allowing its system to share the spectrum with other users. The system was expected to cost in excess of US$ 200m. After the launch of development satellites, the project was not continued.

The satellite was based on PM Polyots 21KF2 Bus, which was developed for the Nadezhda-M satellites. It was launched into a 956 × 1012 km orbit inclined at 82.9 degrees. AKO Polyot will launch the satellites as a partner in a joint venture for FAI's communications constellation.

FAISAT-2v had GMSK uplinks in the 455-456 and 459-460 MHz band, and 400.62 MHz and 400.55 MHz downlink. The downlink power was variable between 5-15 W, and employed two rates of 4800 and 9600 bps GMSK. The system ground based small terminals operated with 1-10 W uplink power.

FAISAT also carries transponders for VITA, a non-profit organization committed to helping people in developing countries improve the collection and transfer of information. This second satellite will carry out communication studies in order to develop suitable algoritms for sharing with other networks and interfering systems, over countries including the USA, Mongolia, Germany and Poland. The remaining 26 satellites were to be launched between 1997 and 2000 to form a global network, which ultimately did not happen.

It was reported that the satellite was working well after an initial glitch where the spacecraft went silent sho