Fragmetric, the re-staking protocol on Solana, has just announced the opening of the airdrop and staking functions for the FRAG Token in the first quarter of the year, providing voting rights in project governance.

MAIN CONTENT

  • Fragmetric implements the airdrop and staking functions for the FRAG Token.

  • The airdrop accounts for 10% of the total supply and has a one-month receiving limit.

  • Through staking, users can accumulate FVT to increase voting rights in governance.

What is Fragmetric and its role in the Solana ecosystem?

Fragmetric is a re-staking protocol on Solana, enhancing the reusability of staking tokens to optimize network performance. The CEO of Fragmetric announced at the Solana event in 2023 that, "Re-staking not only increases benefits for participants but also helps enhance the safety and decentralization of Blockchain."

This protocol allows users to reuse staked tokens without losing benefits while creating additional opportunities to earn rewards through the FRAG Token.

How do the airdrop and staking functions of FRAG work?

According to information from Fragmetric, eligible airdrop recipients can receive FRAG Tokens within one month from the time the function is activated at the beginning of the first quarter. The amount of Tokens received depends on the previously noted eligibility criteria.

"Opening the airdrop and token staking function brings clear added value to the community, stimulating wider participation in project governance,"
Statement from the Head of Product Development at Fragmetric, July 2023.

Additionally, staking FRAG also helps users accumulate FVT – a type of governance token used to vote on project governance decisions, thereby enhancing transparency and democracy in operations.

Overview of the FRAG Token and its impact on governance rights within the system

The FRAG Token was issued as part of the development strategy for the Fragmetric ecosystem, with the first airdrop accounting for 10% of the total token supply. This ratio is sufficient to encourage users to participate in staking and stay committed to the project long-term.

Features Description Total supply of FRAG Token 100% (most not yet issued) Airdrop rate round 1 10% of total Token supply Airdrop receiving period 1 month from the opening date Staking mechanism Staking to receive FVT – voting rights in governance

What are the benefits and impacts of re-staking on the community and the Solana ecosystem?

The implementation of re-staking and the FRAG Token is assessed to enhance the financial health of the network and promote sustainable investor interaction. According to an independent research report in 2023, re-staking protocols facilitate increased liquidity and capital efficiency for Layer 1 networks such as Solana, contributing to ecosystem growth.

Users' rights to participate in governance through FVT also enhance democracy and transparency in operations, mitigate concentration risks, and increase community trust.

"Re-staking is not only a technical tool but also a solution to build a stronger community, demonstrating the long-term vision of the Solana ecosystem."
Mr. Nguyen Anh Tuan, Blockchain expert, June 2024

Frequently asked questions about the FRAG Token and re-staking on Fragmetric

What can the FRAG Token be used for? FRAG is used for staking and receiving FVT, supporting voting rights in the governance of the Fragmetric project. How long is the airdrop period for FRAG? Users have 1 month to receive the airdrop of FRAG Tokens from the date the function is activated. How does re-staking work on Fragmetric? Users stake Tokens to accumulate FVT without losing their initial staking benefits, optimizing asset utilization. How to become an FRAG airdrop recipient? The conditions for receiving the airdrop were previously announced, usually related to participation in staking or holding Tokens in a wallet. What is the role of FVT in the Fragmetric ecosystem? FVT is a governance token used for voting, deciding project development policies.

Source: https://tintucbitcoin.com/fragmetric-mo-airdrop-staking-mua-1/

Thank you for reading this article!

Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!