Fragmetric

Fragmetric

What is Fragmetric?

Fragmetric started as a liquid (re)staking protocol native to Solana and has since evolved into the FRAG-22 asset management standard. This evolution signifies a move beyond just staking to a comprehensive system for managing various digital assets within the Solana ecosystem.
Here's a breakdown of what Fragmetric and the FRAG-22 standard offer:
  • Evolution from Liquid (Re)staking: Fragmetric began by allowing users to stake their Solana assets while maintaining liquidity (liquid staking) and potentially earning additional rewards by re-using those staked assets to secure other protocols (liquid restaking).
  • FRAG-22 Asset Management Standard: This new standard is the core of Fragmetric's current offering. It provides:
    • Multi-asset Deposits: Users can deposit various types of digital assets, not just staking-related ones.
    • Precise Reward Distribution: A system for accurately distributing rewards to users based on their contributions and strategies.
    • Modular Yield Sourcing: The ability to tap into different sources of yield in a flexible and adaptable way, allowing for access to sophisticated DeFi strategies.
  • Leveraging Solana's Token Extension: FRAG-22 is built using Solana's Token extension. This provides key advantages:
    • Transparent, Real-time Reward Tracking: Users can see their rewards accruing in real-time with full transparency.
    • Superior Liquidity Management: Enhanced capabilities for managing the liquidity of deposited assets.
  • Operational Clarity and Security: Fragmetric emphasizes:
    • Clearly Defined Operational Roles: Ensuring a structured and understandable framework for its operations.
    • Secure Protocols: Prioritizing the safety and integrity of user assets and strategies.
  • Benchmark for DeFi: Fragmetric aims to set a benchmark in the Solana ecosystem for:
    • Composability: The ability to easily integrate with other DeFi protocols.
    • Scalability: The capacity to handle increasing transaction volumes and user demand.

How does Restaking Work on Fragmetric?

Fragmetric's approach to restaking is integrated into its broader FRAG-22 asset management standard, specifically within the Yield Optimization process. It doesn't present restaking as a standalone, manual action for the user, but rather as an automated function within the protocol to maximize returns.
Here's how restaking works on Fragmetric, as part of its core processes:
  1. Deposit and Minting (Initial Step):
      • Users begin by depositing supported Liquid Staking Tokens (LSTs), such as JitoSOL, into Fragmetric.
      • Fragmetric's "Normalized Token Pool" then evaluates the real-time value of the deposited LST.
      • In return, the user receives an equivalent amount of fragAssets, like fragSOL. These fragAssets are liquid tokens that represent the user's underlying staked and restaked position.
  1. Yield Optimization (Where Restaking Occurs):
      • This is the crucial step for restaking. Fragmetric's system automatically optimizes yields for the user.
      • It strategically allocates the deposited assets (represented by the underlying value of the fragAssets) across various yield sources.
      • A key component of these yield sources includes restaking protocols for NCN/AVS (Non-Custodial Networks/Actively Validated Services) networks. This means Fragmetric automatically deploys a portion of the user's underlying assets to participate in restaking opportunities, where those assets provide security to other protocols in exchange for additional rewards.
      • "Yield Source Adapters" regularly harvest the yields generated from these external restaking protocols and other yield sources.
      • These harvested yields are then collected and stored in the "Reward Pool."
  1. Reward Tracking and Claiming:
      • The FRAG-22 Reward Module continuously tracks all accrued rewards, including those from staking yields and NCN/AVS (restaking) rewards.
      • Reward contributions are calculated dynamically based on the user's fragAsset balance and the time held.
      • Users can claim their accumulated rewards at any time, which are then distributed from the Reward Reserve.
In essence, on Fragmetric:
  • You deposit LSTs (e.g., JitoSOL) and get fragAssets (e.g., fragSOL).
  • Fragmetric's protocol automatically takes your underlying assets and deploys them into restaking protocols (among other yield sources) to earn additional NCN/AVS rewards without you needing to manage it.
  • You receive all these combined rewards, reflected and claimable via your fragAssets.

Overview of Fragmetric’s Restaking/Liquid Restaking Tokens (fragAssets) —
fragSOL
fragSOL |
fragJTO
fragJTO |
fragBTC
fragBTC

fragAssets (fragSOL, fragJTO, fragBTC) are designed to allow users to "restake" various underlying assets while maintaining liquidity and earning multiple layers of rewards.
How fragAssets Work:
When users deposit various assets—such as native SOL, other Liquid Staking Tokens (LSTs) like JitoSOL, mSOL, BNSOL, or bbSOL, or potentially other assets like JTO or BTC—through the Fragmetric protocol, they receive corresponding fragAssets (e.g., fragSOL, fragJTO, fragBTC) in return. Each fragAsset represents the user's restaked position in the respective underlying asset or LST.
Benefits and Rewards of Holding fragAssets:
Holding fragAssets entitles users to a combination of diversified rewards, designed to maximize yield:
  1. Base Staking Yield (Specific to underlying asset):
      • For fragSOL (representing restaked SOL or Solana LSTs), Fragmetric collaborates with top-tier yield-focused protocols to deliver competitive Solana Staking Yields to fragSOL holders. The specific base yield for other fragAssets (e.g., fragJTO, fragBTC) would depend on the nature of their underlying asset and its native staking or yield-generating capabilities.
  1. MEV (Maximal Extractable Value) Rewards (Specific to fragSOL):
      • All SOL and LSTs deposited that contribute to fragSOL are used to secure TipRouter, the first Node Consensus Network (NCN) under Jito Restaking. The MEV tips generated from these activities are distributed to fragSOL holders, significantly boosting their overall Annual Percentage Yield (APY).
  1. Additional Restaking Revenue:
      • Through its integrations with the Jito (Re)staking Protocol and collaborations with various NCNs/AVSs, Fragmetric efficiently redistributes extra restaking rewards generated from these broader restaking activities to fragAssets holders. This applies generally to any fragAsset participating in such restaking engagements.

Fragmetric Resources