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Announcing our Community Round, partnered up with Legion
Sang
Sang
Announcing our Community Round, partnered up with Legion

We're teaming up with Legion to launch a Community Round that gives the community an opportunity to invest directly in our journey and be part of our growth. In this post, we’ll share why we’re taking this path and what we aim to achieve together.

The Evolution of Fragmetric: From Seed Round to Community Engagement

In February, we announced our $7M seed round. Our lead investors, Finality Capital and Hashed, along with numerous other VCs and angel investors, placed their trust in Fragmetric from the very beginning. They believed in our potential to dominate the Solana liquid restaking market with our proprietary reward module and normalized token program.

Their belief was not misplaced. Fragmetric is now the leading liquid restaking protocol, and we recently became the sole VRT provider for Switchboard, the first external NCN on Jito, leveraging our own reward module.

While there is growing skepticism toward VC funding in today’s market, we have no doubt that without our early backers, Fragmetric would not exist in its current form. Their support was crucial in assembling a world-class team and setting the foundation for our success.

However, we are now in a different phase. Fragmetric has grown into a robust organization with 17 commited team members and ranks among the top 20 protocols on Solana by TVL. At this stage, we need more than just financial backing. We need long-term strategic partners who can actively contribute to our growth.

Thus, in our upcoming strategic round, we have secured investments from teams that we plan to collaborate with in the long run. But during this process, the community funding models of various projects made us reflect deeply on what truly matters.

Why a Community Round?

From the beginning, Fragmetric has been a community-driven project. Our community members, known as SANG (SolanA Network Guard), have engaged daily on Discord and X, creating artwork of our mascot, TOPU, and fostering a strong sense of belonging.

While some doubted the need for a strong community in staking platforms, we have always believed otherwise. We firmly believe that a community-driven product can generate a powerful network effect, even in staking. That’s why we have prioritized community building from day one, and our product design reflects this philosophy. In just four months, Fragmetric has surpassed 40,000 staking users, proving the strong demand for staking from the retail side. This belief is further validated by our ability to achieve significant TVL growth organically.

Our community is, without a doubt, our most valuable strategic partner. That is why we chose to collaborate with Legion, a platform that understands the importance of community and is a leader in this space. Given this, the valuation and vesting terms for our community round will be identical to our latest VC funding. We see our community not just as supporters but as core partners in our journey.

Addressing Risks and Opportunities

Of course, this round involves risks for all parties. Participants face the risk of financial loss, and Fragmetric risks losing the trust of our community. However, there is a fundamental difference between having the opportunity to invest at the same valuation as VCs and not having that opportunity at all. We believe in fair access and inclusivity, and this round reflects our commitment to those principles.

The Future of Fragmetric

In this new era, a permissionless staking platform designed to maximize yield will not only be an essential component, but a driving force of financial innovation. Fragmetric is at the forefront of this transformation, committed to creating a system where users can unlock unparalleled returns while maintaining full autonomy over their assets.

We are excited to build this future together with our community. Thank you for being part of our journey. STEM.

Community Round Details

For further information about the specifics of the Community Round structure and terms, please visit Legion.

About Legion

Legion represents a paradigm shift in the way capital formation is conducted in the blockchain sector. By creating a more open, merit-based, and compliant platform, Legion increases the chances of success for new crypto projects and ensures they can thrive beyond a single market cycle. It is a more sophisticated structure that benefits from crypto’s simple transfer-of-value mechanism.

Legion’s strategy is built around democratizing the pre-TGE community sale by prioritizing transparency and regulatory adherence. This model brings together the goals of retail investors who actively support and invest in projects, paving the way for effective capital raising, scalability, and sustainable growth for project teams, while simultaneously unlocking fresh opportunities for profit and expansion.

About Fragmetric

Fragmetric is a native liquid (re)staking station on Solana that aims to improve the economic potential and security of the Solana ecosystem. Fragmetric succeeded in carrying out NCN reward distribution by utilizing Solana's token extension. Additionally, Fragmetric created useful solutions, such as the Normalized Token Program, for utilizing various LSTs in restaking platforms. The goal of Fragmetric is to create a safe, open, and incredibly effective restaking system that empowers users and supports the stability of the Solana restaking ecosystem.

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