Fractal Wallet and Staking
Token value upkeep and protocol development: these are two tracks we need to consider as a company. They won't be necessarily aligned at all times, and we need to make good decisions. Until we have significant protocol usage, the value of FCL will be driven mostly by good news: partnerships, promises, team news, prominent mentions of investors or other trust givers, staking opportunities, listings etc.
To this end, we're bringing the Fractal Wallet PoC to production. It will provide a mechanism to store and share credentials, initially KYC credentials from Fractal, which websites will be able to accept (and verify on chain) for compliance purposes, as an alternative to our OAuth flow.
More importantly, it will be a beacon for FCL, since we will allow users with a credential to access FCL staking tools in Fractal ID. Staking is important for FCL value because it exerts an upwards pressure on the price from two ends: by taking FCL out of circulation, but also by giving folks a reason to buy FCL in order to access staking yield. Finally, it can also boost adoption of Fractal ID and populate Ethereum with DIDs and verifiable credentials usable by any project requiring access control.

Kickstarting the flywheel

  • to stake FCL, you need a credential
  • to get a credential, you need to download the Wallet (Wallet user base increases)
  • to get a credential, you need to get verified in Fractal ID (ID user base increases)
With good enough staking incentives, we should see our user base to spike. This, in turn, makes "logging in with the Fractal Wallet" appealing to prospective ID clients, who would push even more people to the Wallet. Since the Wallet will prominently feature FCL, this introduces FCL to new users, who would be incentivize to buy and stake.

Related posts

Fractal ID, Fractal Wallet, Fractal Protocol: How They Work Together
Medium
Everything you need to know about Fractal Wallet & Our Upcoming Staking Program
Medium
Fractal Staking — Overview and Step-by-Step-Guide
Medium
Last modified 5mo ago