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CoinGape 2025-02-04 06:26:14

Everstake announces partnership with Fragmetric, to offer restaking services on SOL

Everstake announces partnership with Fragmetric, to offer restaking services on SOL

Everstake, a prominent decentralized staking service provider, announced on Sunday its partnership with Fragmetric, a liquid restaking protocol on Solana. The partnership will allow more flexibility and rewards to stakers where they can restake their assets while keeping liquidity. This will ensure efficient capital utilisation for stakers while providing ways to earn high returns for stakers on their staked assets. As Everstake becomes one of the Fragmetric Aligned Node Operators, it will help in v alidating transactions and securing Node Consensus Networks, thereby, ensuring fair distribution of rewards using token extensions on Solana. It is also worth noting that this integration of Fragmetric on Everstake’s staking infrastructure came only a day after it achieved SOC 2 Type 1 Certification. The certification, issued by independent cybersecurity firm – Prescient Security – has verified the top-tier security and privacy standards for individual and institutional stakers staking via Everstake. Moreover, the AICPA System and Organization Controls (SOC) Type 1 Certification has also highlighted Everstake’s potential to fight the cybersecurity threats. The bull run markets generally see the surge in cybersecurity threats, giving stakers a relief of safety and security. As the interest in staking services witnesses a surge in active validators by 16%, the integration of Fragmetric protocol will ensure the continued growth in restaking services on Solana Blockchain. We’re thrilled to partner with @Fragmetric , a liquid restaking protocol on Solana that brings more flexibility and rewards to stakers. With their innovative approach, users can seamlessly restake their assets while keeping liquidity, making staking more efficient than ever.… pic.twitter.com/lTbW4FzGoH — Everstake (@everstake_pool) January 31, 2025 How Fragmetric Protocol allows restaking? The liquid staking protocol forms the cornerstone of this partnership between Everstake and Fragmetric. Allowing stakers to “Stake twice, Earn More”, it allows users to stake an already staked asset (take any LST, say, jitoSOL) to secure an additional decentralized service. Its restaking process involves depositing, Normalised Token program followed by Rewards Distribution. Users deposit SOL, or any Liquid Staking Tokens (LSTs) to receive an equivalent amount of $fragmetic asset (e.g., fragSOL). The deposited assets of users form a unified basket which Fragmetric allocates across various restaking protocols. Earnings from the delegated assets to partner validators are then distributed to the holders. Thus, the partnership is poised to offer users a way to earn more rewards on their already staked assets by using Fragmetric’s protocol in Everstake’s already robust staking infrastructure. The post Everstake announces partnership with Fragmetric, to offer restaking services on SOL appeared first on CoinGape .

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