Fragmetric
Fragmetric is integrated as the exclusive VRT provider for Switchboard NCN
Sang
Sang
Fragmetric is integrated as the exclusive VRT provider for Switchboard NCN

Switchboard, a leading DeFi oracle on Solana, is the first to implement Jito (Re)staking, making both on-chain and off-chain data more accessible while enabling restakers to contribute to network security and decentralization. By leveraging Jito (Re)staking's multi-tiered slashing and customizable staking parameters, Switchboard enhances its economic security and improves data feed performance, further strengthening the security of Solana DeFi. Its oracles already help secure & decentralize MEV tip distribution via the TipRouter NCN.

As the exclusive Jito (Re)staking VRT provider for Switchboard NCN, Fragmetric plays a key role in enhancing the security and efficiency of its data feeds. Switchboard is also the first NCN to fully leverage Fragmetric’s reward distribution system.

Switchboard NCN

To maximise the security of the Switchboard protocol, its staking mechanisms are built on the Jito NCN restaking system. This means Switchboard operates its own NCN to secure key actions performed by oracles within the protocol:

  • Oracle Queues: In Switchboard, each oracle queue (a group of oracles) is linked to its own Jito NCN.
  • Oracles as Nodes: Individual oracles within the queue act as nodes (operators) in the NCN.
  • Performance-Based: Node operators earn rewards based on data accuracy and uptime. The better their performance, the more stake they attract, and the more oracle feed requests they receive.

What Fragmetric does

  1. Fragmetric, as a VRT provider, performs the role of delegation rebalancing, ensuring that stake is dynamically adjusted based on performance for node operators who opt into the system. This mechanism incentivizes node operators' high uptime and accurate data reporting, creating a more efficient and reliable restaking environment. You can find the details of our operator system at this link.
  2. Fragmetric reward module, leveraging the transfer hook of Solana's Token Extensions, perform the role of fairly and accurately distributing Switchboard NCN rewards to Restakers. You can find the details of our reward system at this link.

Why does this matter

If you're a fragSOL holder, you're not only accelerating the decentralization of Switchboard oracle but also earning additional restaking rewards. fragSOL holders will receive SWTCH tokens as restaking rewards from Switchboard NCN.

About Switchboard

Switchboard is a decentralized, community curated oracle network built with the goal of making all data, on-chain and off-chain, easily accessible for developers. Combined with Solana's low transaction fees and high throughput, Switchboard unlocks new use cases around DeFi, NFTs and Gaming.

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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