Fragmetric
FRAG
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Fragmetric (FRAG) is a liquid restaking protocol on Solana demonstrating robust technical execution, active development, and external security audits from Certora. Development activity is solid with regular protocol releases and on-chain governance proposals (FIP-1, FIP-2). The protocol has reportedly scaled to significant TVL with a clean security record, exhibiting no exploits, hacks, or depeg incidents. However, the project faces severe market headwinds: FRAG exhibits severe price depreciation (~99.97% drawdown from all-time highs), sub-$100k market capitalization, and negligible liquidity across secondary markets. Furthermore, token distribution remains concentrated among early contributors and foundation reserves, with staking utility yet to fully transition to direct revenue capture. While the underlying protocol infrastructure shows active engineering and auditing rigor, extreme market illiquidity presents substantial structural risk.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Fragmetric (FRAG)
Fragmetric (FRAG) is a liquid restaking protocol deployed on the Solana blockchain. Launched in October 2024 by Fragmetric Labs, the protocol enables liquid restaking infrastructure on Solana, allowing users to stake assets and participate in network validation mechanisms. The FRAG token functions as an SPL governance and utility asset within the system, utilizing a vote-escrowed model (incorporating FRAG² and time-weighted FVT) to vote on node operators, protocol parameters, and upgrades. The token has a fixed maximum supply of 1,000,000,000 units with an initial circulating supply of 202,000,000.
The protocol's technical framework has undergone regular development updates, including mainnet program deployments, SDK releases, and governance proposals such as FIP-1 and FIP-2. Fragmetric has completed smart contract security audits with Certora and QuantStamp. By mid-2025, the project reported scaling to over $300 million in total value locked across more than 80,000 participants.
Despite protocol activity, the FRAG token has faced severe secondary market headwinds, experiencing an approximate 99.97% price drawdown from its all-time high of $0.08, falling to a sub-$100,000 market capitalization with near-zero trading volume. Additional structural risks include token supply concentration, with over 50% allocated among core contributors, early investors, and the foundation, as well as closed-source core programs awaiting planned governance transitions.