Quicknode

October 4, 2024 — 3 min read

Welcome back to Feature Fridays! This week, we’re excited to spotlight Fragmetric, a groundbreaking company revolutionizing Solana’s restaking ecosystem. Co-founded by Sang, COO and developer with a background in AI and blockchain, Fragmetric is creating a secure, transparent, and efficient restocking infrastructure. Their innovation in Liquid Restaking Tokens (LRTs), like fragSOL, provides users with safer and optimized restaking experiences, setting new standards in the Solana ecosystem.

Q & A with Fragmetric 👇

Could you introduce yourself by sharing your name, prior experience, and current role within your company? Additionally, please briefly explain your company's mission and what it offers to its customers.

I’m Sang, Co-founder and COO of Fragmetric. I first encountered Solana development in 2021, and since then, I’ve been captivated by Solana’s dApps and its community. Prior to Fragmetric, I contributed as a developer to a Solana dApp called ATIV while pursuing a Master's degree in AI. Additionally, I currently serve as the president of Decipher, a blockchain club at Seoul National University. Fragmetric's mission is to build a secure, transparent, and highly efficient restocking infrastructure that empowers users and supports the stability of Solana’s retaking ecosystem.

How has your company grown and changed since its inception, and what do you have planned for its future?

Since co-founding the company with Zac, our CEO, we’ve grown rapidly and now have a team of 14. Initially, we aimed to build a restaking protocol directly on Solana. However, after realizing that excellent teams like Jito, Picasso, and Solayer were already working on similar projects, we pivoted to developing a liquid restacking protocol to provide users with a safer and better user experience of retaking. Fragmetric introduced fragSOL, an LRT (Liquid Restaking Token) designed using Solana’s Token-2022, becoming the first to provide users with accurate AVS rewards. As fragSOL stabilizes, we plan to launch a wider variety of LRTs in the future.

What inspired you to develop Fragmetric, and how did you conceive?

As I mentioned earlier, restaking protocols have begun to emerge in the Solana ecosystem. We initially planned to develop a restaking solution ourselves, and the rise of liquid restaking protocols seemed like a natural progression. We quickly took action, seeing the need for this development. Fragmetric's role in the restaking ecosystem extends beyond simply liquidizing restaking positions. We focus on assessing AVS risks and appropriately allocating TVL to deliver optimal rewards to users. To distribute AVS rewards efficiently, we designed a solution leveraging Solana’s Token-2022 and developed the Normalized Token Program to support a variety of LSTs. For more detailed information, you can refer to our blog: Introducing fragSOL: The New Standard of Liquid Restaking.

How does your company utilize Quicknode, and what benefits does it bring to your business operations?

We are using Quicknode to aggregate transactions relevant to our Solana LRT program to transform raw data to our business models, and also to provide stable RPC experience to end-users sending transactions to the Solana cluster. We can reduce maintenance and operational costs for BlockChain nodes. Also, we have great insights from the metrics dashboard of Quicknode for making stable integration with on-chain traffic.