Fragmetric
@fragmetric
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Pinned Tweet
Introducing $fragSOL: The New Standard of Liquid Restaking
Today, we’re announcing our partnership with
@jito_sol
to introduce $fragSOL, Solana's first native Liquid Restaking Token based on Jito (Re)staking VRT. $fragSOL is the first LRT that has solved the reward distribution
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🔥
@Fragmetric
X
@Backpack
are teaming up for the first time in KBW!
Get ready for the Fragmetric X Backpack Rendezvous Party!🚀
Backed by the industry's best :
@presto_labs
@JamboTechnology
@_Frictionless_
@caladanxyz
@SonicSVM
@MultiChainInc
@soon_svm
@metaz_io
@weRoamxyz
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$SOL 🌊 is inevitable
thats the tweet
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Solayer: Expressway for All
Let's take a deep dive into what
@solayer_labs
is aiming for and why it matters. Visit the Fragmetric Blog for more details.
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🌊
@Fragmetric
,
@Jito_sol
, and
@solanafndn
make huge Solana waves in Korea! 🌊
Get ready for Solana Spectrum in Seoul during
#KBW2024
!🔥
📆 6 September
🕐 1:00 PM to 9:00 PM GMT+9
🎤
@zk_bella
(from
@caladanxyz
)
RSVP & Details:
Agenda below👇
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very well done summary of the key feature of our protocol - the Fragmetric way, only possible on
@solana
Last week we saw
@RenzoProtocol
announce as the first LRT on
@jito_sol
's (Re)Staking platform with ezSOL, expanding their product footprint to Solana's rapidly growing DeFi ecosystem.
Today we have
@fragmetric
announcing as the first Solana-native LRT for Jito (Re)Staking,
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Who's looking for us?
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Lads on top.
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[Frag Highlight
#1
] JIP-3: Transfer of
@jito_sol
Stake Pool management to StakeNet
Last week,
@Blockanalia
uploaded JIP-3, a proposal on the Jito forum to transition the management of Jito's Stake Pool to StakeNet. StakeNet, as presented by Jito's CEO
@buffalu__
at the 2023
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Blink: Harmonizing the Blockchain Babel
Let's take a deep dive into what Blink is and how it works through the Fragmetric Blog!
Big thanks to the
@saydialect
@aliquotchris
for the review.
🧵Below is the Mega Thread of Blink.
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Frag is in stealth, but soon all of Solana will flow through us.
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We contribute to
@solana
through research as well as products. It's the
@heliuslabs
way. And guess what our next research will be? 👁️👁️
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Coming up next, SVM Fireside Chat with
@0xbrainjar
from
@Picasso_Network
(
@mantis
),
@Chrizhuu
from
@SonicSVM
, and
@0xNazreen
from
@soon_svm
.
Moderated by
@0xMert_
, CEO of
@heliuslabs
.
⏰ 2:00 pm to 2:50 pm
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I said restaking on solana is inevitable. It will manifest in various ways.
We’ve invested in
@solayer_labs
Solayer is a leading restaking network on Solana.
Read more👇
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The Solana Trilemma - To process or not to process, that is the question
@solana
is currently grappling with significant spamming issues, with over 50% of block space occupied by failed transactions. This predicament underscores the Solana trilemma: balancing permissionless
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Fragmetric is a first mover in the Solana ecosystem, bringing LRT (Liquid Restaking Token). We have conducted a deep review of the newly opened repository of
@jito_sol
. Jito has now open-sourced their restaking code on GitHub allowing a deep view into their state-of-the-art
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As I said
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Our cat is working, kudos to
@jito_sol
team.
Article regarding
@solayer_labs
will come out 🔜
Jito Stakenet's Steward Program: A New Era in Solana Decentralization
The core pillar of Jito Stakenet, the Steward Program, has been unveiled by
@jito_sol
, promising a decentralized approach to distributing user-delegated SOL to validators each epoch. This initiative aims to
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We're excited to see the emergence of truly decentralized services based on Restaking on Solana.
Announcing the Squads Policy Network (SPN): Advancing Smart Accounts through Distributed Policy Enforcement
The SPN will bring granular transaction policies to onchain smart accounts in a trustless and decentralized way. Powered by Jito (Re)staking.
Let's dive in ↓
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SVM-based, app-specific chain that inherits Solana's security is coming through
@fragmetric
Solana will have L2’s — it’s not like anyone could stop someone from building them!!
I just think they won’t be for transaction scale, but for more specialized “co-processor” applications, like maybe a zk prover or a GPU network you can only join with proof-of-benchmark, etc
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$fragSOL 🔜
Is Solana simply a Memecoin Layer? Absolutely No.
@solana
is building its own robust Staking ecosystem, and the amount of Solana deposited in LSD over the past year has more than doubled. Considering the price, the increase in LST TVL compared to a year ago is nearly "16x".
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@jito_sol
4/ Normalized Token Program for Delegation & Slashing
Existing restaking protocols struggle with defining clear slashing ratios for different LSTs. Fragmetric addresses this with Normalized Token Program, which enables simultaneous use of various LSTs for NCN validation. This
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@jito_sol
3/ Token Extension for Reward Distribution
When Alice transfers $fragSOL to Bob, the $fragSOL transfer hook is activated, which updates their $fragSOL balances in Fragmetric's Rewards Module. When NCN rewards are received in Fragmetric’s vault, the reward module records the
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@jito_sol
5/ The Fragmetric Way
In this thread, we introduced how Fragmetric's Token Extension and Normalized Token Program address two major issues that existing liquid restaking protocols have not addressed. Fragmetric will not only develop secure standards for LRT/VRTs but also
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Don't miss the alpha 👀👀
Adrena -
@AdrenaProtocol
aPriori -
@aprMEV
Bitcoin -
BONK -
@bonk_inu
Cube Exchange -
@cubexch
Cormint Inc -
@CormintInc
Elmnts -
@elmnts_
Helius -
@heliuslabs
Fragmetric -
@fragmetric
Jito Labs -
@jito_labs
MarginFi -
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LFG
1. Announcing Jito Restaking: A Next-Gen Infrastructure Platform
The Jito Foundation is excited to release the code for Jito Restaking, a hybrid staking, restaking, and LRT module. 🤝
Wtf is that? Lets dive in. ↓
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EAVS is a great acronym to differentiate re-staking in Solana (Integrated) vs Eigenlayer AVS on Ethereum's modular stack. It represents a new paradigm—something between an application and a blockchain, but not quite an appchain.
@fragmetric
and
@jito_sol
can help proliferate.
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@jito_sol
2/ Token Extension for Reward Distribution
Ethereum's Liquid Restaking Protocols face challenges in distributing AVS rewards effectively. Our solution, $fragSOL, utilizes Solana's token extension to precisely manage reward distribution through the transfer hook feature. This
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🚀🚀🚀🚀🚀
Alright... Angel bags shilling time:
@AdrenaProtocol
@aprMEV
@bonk_inu
@bimabtc
@cubexch
@CormintInc
@elmnts_
@heliuslabs
@Hyperplex_xyz
@fragmetric
@jito_labs
@kizzymobile
@lmaohq
@marginfi
@MayanFinance
@monad_xyz
@Narwhal_Finance
@buildnexio
@pixelverse_xyz
@sphere_labs
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Lastly, Restaking on Solana with
@lxjhk
from
@solayer_labs
,
@Chrizhuu
from
@SonicSVM
,
@SolZacque
from
@fragmetric
,
@0xjoshglobal
from
@jito_sol
.
Moderated by
@SolanaLegend
, Managing Partner of
@_Frictionless_
.
⏰ 6:00 pm to 6:50 pm
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Proceeding with Solana Infra Talk - SWQoS, featuring
@koed_the_kat
from
@fragmetric
,
@lxjhk
from
@solayer_labs
, and
@0xMert_
from
@heliuslabs
.
Moderated by
@CryptoApe0
, Founder of
@MultiChainInc
.
⏰ 3:30 pm to 4:20 pm
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📍 : Avécque Cheongdam
🕗 : Sept 5, 8:00 PM to 12:00 AM GMT+9
RSVP & Details :
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4/ Why PYUSD is On
@solana
? (cont'd)
Additionally, PayPal states that Solana's token extensions make Solana a perfect blockchain to implement fintech functionalities required for PYUSD. Token extensions are features provided by Solana for tokens on an open-source basis. By
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$SOL Native Staking vs. Liquid Staking (LST) vs. Liquid Restaking (LRT) 🚀
~Native Staking on SOL~
The process by which SOL users delegate all or a portion of their SOL tokens to one or more validators on SOLs mainnet. Stakers earn rewards/yields based on inflation, total SOL
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👀👀
@solana
Because of Solana's network congestion these days, Solana also needs more scalability. Unlike Ethereum's vertical scaling like Layer 2, Solana needs horizontal scaling. The SVM based appchain will leverage Solana's security through restaking.
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9/ Community Assetization of LSTs (feat.
@sanctumso
) - cont’d
Issuing LSTs inherently involves staking native coins, generating staking rewards. Starting with Sanctum, the Solana ecosystem is seeing a trend where community participants issue LSTs and use the staking rewards to
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@solayer_labs
1/11
@solayer_labs
is a restaking platform that accepts staking from users holding LST and SOL, with $140 million staked in Solayer's vault. Restaking liquifies staked assets, using the resulting staking for crypto-economic security to run decentralized services.
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6/ Emergence of Various LSTs (feat.
@sanctumso
) - cont’d
Traditional LSTs offered staking rewards in native coins at standard APRs. Sanctum, however, allows unique reward structures for each LST. compassSOL and jucySOL add MEV revenue, bonkSOL provides extra BONK rewards, and
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8/ Community Assetization of LSTs (feat.
@sanctumso
) - cont’d
As above, Solana ecosystem participants are issuing LSTs to support their communities, sometimes using them as tokens of community contribution. For instance, fpSOL grants its holders access to a Discord channel, while
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Moving on to a keynote from
@0xdirichlet
, Co-Founder of
@sphere_labs
.
Title : Spherenet : a SWIFT for Fintechs
⏰ 5:30 pm to 6:00 pm
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6/ What PYUSD will bring to
@solana
(cont’d)
Furthermore, the synergy with
@sphere_labs
, which provides stablecoin payment infrastructure on Solana, is also highly anticipated. Sphere offers a comprehensive payment API service based on Solana, including on/off-ramp solutions,
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Continuing with a session on The future of consumer dApps on Solana with James Zhang from
@JamboTechnology
,
@scopicview
from
@presto_labs
, and
@reffoPuffpaw
from
@puffpaw_xyz
.
Moderated by
@SolanaLegend
, Managing Partner of
@_Frictionless_
.
⏰ 4:40 pm to 5:30 pm
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We're SVM Maxi.
Friendly reminder that
@PayPal
has joined companies like
@stripe
@Visa
@Mastercard
@Worldpay_Global
and
@Shopify
in choosing to build on-top of Solana.
SVM is for payments 🤝
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interns are the real KOLs
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Following that, dive into What's next for DeFi on Solana with
@fatassmonkey_
from
@presto_labs
, and
@barrett_io
from
@ranger_finance
.
⏰ 2:50 pm to 3:30 pm
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@solayer_labs
4/11 Solana Dapps benefit from restaking because their transactions are prioritized by RPC nodes with higher virtual stakes. This leads to faster transaction execution and improved performance for their users, thanks to more efficient network resource allocation.
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@solana
4/ This system facilitates 0.4-second block creation times and real-time processing but also renders the network susceptible to bot attacks due to low fees and the absence of a mempool.
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@solana
2/ To comprehend this, it is essential to understand how Solana transactions are processed. Solana employs leader validators to execute, create, and propagate blocks, which are then confirmed by validator votes.
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Next up, a keynote from
@alphacurve
, Co-Founder of
@weRoamxyz
.
Title : Roam the World, Connect the People
⏰ 4:20 pm to 4:40 pm
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@solayer_labs
2/11 An off-chain service like an oracle can benefit from restaking. Operators stake Solana LSTs, participate in consensus, and maintain security by risking their staked LSTs. This allows off-chain services to utilize Solana protocol security.
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@solayer_labs
3/11 Services acquired through restaked tokens are called Actively Validated Services (AVS). Solayer supports staking and restaking for Solana, Marinade Staked SOL, Jito Staked SOL, BlazeStake Staked SOL, Infinity, and SolanaHub Staked SOL.
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Kicking off
#SolanaSpectrum
with a keynote from
@Austin_Federa
, Head of Strategy at
@SolanaFndn
!
Title : The High Performance Paradox
⏰ 1:30 pm to 2:00 pm
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4/ Changes in SOL LST Proportion (feat.
@jito_sol
) - cont’d
In addition to MEV rewards, Jito successfully bootstrapped growth with its Jito Point System. Jito rewarded points to jitoSOL holders and stakers, creating anticipation for a JTO token airdrop.
For LST growth, it's
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@solayer_labs
@heliuslabs
9/11 Solayer aims to address these challenges by creating a system where Dapps can secure their traffic by sharing revenue with Solana stakers. This ensures that users benefit from the fastest transaction execution without needing to know the identity of the underlying RPCs.
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1/ Back then in 2023
Before 2023, the Solana LST ecosystem was considered the least interesting among major blockchains. This was because over 95% of staked SOL was done through Native Staking rather than Liquid Staking services, making the LST market seem quite small.
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@solayer_labs
@heliuslabs
10/11 For Solayer's vision to be realized, it must address challenges like on-chain validation of off-chain relationships and transparency in virtual stake allocation. If successful, Solayer could significantly contribute to a more secure and equitable Solana ecosystem.
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@solayer_labs
@heliuslabs
8/11 Prioritizing transactions from highly staked RPCs could create a quasi-permissioned environment, disadvantaging retail users. Measures to enhance network security might inadvertently impose restrictions on network usage.
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@solayer_labs
@heliuslabs
7/11 SWQoS allows RPC nodes to have more QUIC connections to leader validators based on the amount of virtual stake they hold. This system prioritizes transactions from RPC nodes with substantial virtual stakes, enhancing network performance.
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@solayer_labs
5/11 On July 28,
@heliuslabs
outpaced Galaxy by accounting for 3.4% of the total staking volume. They attract users with unprecedented conditions: 0% validator commission and 0% MEV commission.
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0/ Why Liquid Staking?
Liquid Staking services play a crucial role as core infrastructure in every blockchain ecosystem. By enabling users to liquidate their staking positions through LSTs, they can engage in various DeFi activities based on those positions. This benefits the
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@saydialect
ok I need MORE BLINKS. like VERY SOON. I cant take this anymore. every minute I am checking FOR BLINKS and not enough on my TL. every minute, check for BLINKS. I cant take this anymore, I need to BLINK NOW. it is what it is. but I need MORE BLINKS ALREADY. can DEVS DO SOMETHING?
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