Phase 1 recap

Since the launch of Phase 1 of our LF(ra)G campaign on October 24, 2024, we’ve made significant progress: forming partnerships with various projects and node operators while working tirelessly to strengthen the Fragmetric (Re)staking Station. Despite the initial constraints of a capped TVL and the absence of withdrawals, we’re incredibly grateful for SANG’s unwavering support.

Fragmetric has now surpassed a total value locked (TVL) of 60 million dollars; from the first to the third cap, a sharp increase in the number of unique depositors was observed each time a new cap took effect. This is a clear sign of advancing decentralization in the community and a testament to the strong interest in Fragmetric.

Building on the success of Phase 1, we’re ready to accelerate (re)staking efforts even further. We couldn’t have come this far without SANG, and we’re excited about the road ahead as we push the boundaries of Solana. Your support means everything. So thanks again for believing in Fragmetric and being a part of this incredible journey.

Phase 2

TLDR

• Starting January 22 at 17:15 UTC,
  • You can stake JTO via Fragmetric
  • fragSOL becomes withdrawable (approximate queue period of 10 days)
  • fragJTO can be withdrawn at any time (approximate queue period of 7 days)
  • DeFi integration and transfers will be live shortly

New Vault Receipt Token: fragJTO

• What is fragJTO?
  fragJTO is the first non-SOL Liquid Restaking Token (LRT) introduced by Fragmetric. By staking JTO, the governance token of the Jito protocol, you receive fragJTO, which represents your staked JTO and entitles you to:

1. MEV Rewards: Your JTO is utilized to secure TipRouter, a core component of the MEV ecosystem on Solana. Part of the MEV tips are shared with fragJTO holders, enhancing overall APY.
2. Additional Restaking Revenue: With integrations on the Jito (Re)staking protocol, including collaborations with NCNs, Fragmetric efficiently redistributes extra restaking rewards to fragJTO holders.

• LF(ra)G campaign
  By default, each 1 fragJTO earns you 0.00002 F Points every second.
  During the initial first month, F Point will be boosted by 4x.
  ex) Backpack Wallet + Referral + holding fragJTO = 4.4x
  (fragJTO exclusive; no impact on fragSOL F Points)
  
  
• Introducing first NCN, TipRouter
  Introduced in JIP-8, the TipRouter was designed to address the issue that Jito MEV tips are currently distributed via a centralized mechanism. As the first Node Consensus Network (NCN) from Jito, TipRouter leverages Jito (Re)staking to make the distribution process decentralized and secure.

• What benefits do Fragmetric restakers get from TipRouter?
  = (Re)distribution of Value
  After TipRouter goes live on January 30 at 16:00 UTC, a flat 3% fee will be applied to all distributed Jito MEV tips. The 3% fee is split as follows: 2.7% is distributed to the Jito DAO, 0.15% to SOL Vault participants, and 0.15% to JTO Vault participants. In other words, through TipRouter NCN, the APY for both fragSOL and fragJTO is increased.

fragSOL, fragJTO withdrawable

• Unstaking process
  Once you submit an unstake request, it will first be placed in a queue and then become claimable. (fragSOL: 3 epochs = up to approximately 10 days, fragJTO: 2 epochs = up to approximately 1 week) During this period, Fragmetric handles the following on your behalf:

1. Undelegating tokens from the node operator
2. Retrieving tokens from the restaking vault

• Steps to unstake

• Go to the Fragmetric (Re)staking Station

• Enter an Amount: Specify how much fragSOL, fragJTO you want to unstake. Click Max if you want to unstake your entire balance.
• The "Receive" amount displayed at this stage is an estimate. Your actual withdrawal amount may differ when the unstaking process completes.

• Once the unstaking process is complete, you can withdraw your SOL or JTO from the Withdraw Queue.

Join the Fragmetric Community

• website : fragmetric.xyz
• Read through the documentation : docs.fragmetric.xyz
• Meet the community in Discord : discord.gg/fragmetric
• Follow @fragmetric on X : x.com/fragmetric

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.