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Fabric (FAB) Price Updates, Recent Developments, Future Events, Community By DailyCoin

by Mike Robinson

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Fabric (FAB) Price Updates, Recent Developments, Future Events, Community
  • Fabric is a synthetic asset issuance protocol built on Solana
  • The project has launched the Osmosis and APEX Osmosis staking pools which now have over $2 million in liquidity pools
  • Fabric will be looking to add voting/DAO on its mainnet and launch the FAB PUNKS in Q4
  • FAB has been one of the top-performing Solana projects in September, hitting an all-time high of $0.4242 on September 10

Fabric is a decentralized synthetic asset issuance protocol built on the Solana blockchain. This network offers tokenized synthetic assets that leverage an over-collateralized pool.

Fabric tokens (FABs) are used to collateralize synthetic assets. Fabric assets cannot be issued until they have been locked in the Fabric pool. What has Fabric done since it was launched in May 2021, and how is that fair?

Recent Developments

The Fabric network is experiencing one of the most significant events since its launch – the addition of staking to the network. Osmosis, APEX Osmosis, and APEX Osmosis stake pools have been deployed to the mainnet after staking integration.

The development optimizations mean that fabric staking now runs 5X faster than when it first started. You can either put your FAB-USDC and APEXUSDC into liquidity pools to earn 14.5% and 14.24%, respectively.

Over $2 million is currently locked into the Fabric liquidity pool. Tracking of the Fabric LP is made possible by a recent integration with DeFi Llama – a ranking and metrics aggregator for Decentralized Finance (DeFi) protocols.

Fabric and Compendium.Fi launched an NFT airdrop to promote community participation on September 9. Piggy NFT will be given to the winning winner on September 18th.

Future Events

The Fabric Foundation has teased some exciting events to happen on the network before the end of 2021. One of the most anticipated is the release of FAB PUNKS – Fabric’s answer to the growing NFT trend and the metaverse.

Users will have the ability to interact with digital assets, corporeal objects and more through FAB PUNKS when it is launched.

Fabric will make some interesting improvements in Q4. According to the Fabric development team’s roadmap, Fabric will be adding voting/DAO on its mainnet in Q4. The governance structure of the project will be changed by this.

In addition, there is a planned release of a Fabric smart swap router – an aggregator with an intelligent order router breaking down large orders into multi-venue minimal slippage orders.

Price Updates

Fabric (FAB) started the month of September as one of the top performers in the Solana ecosystem. FAB made a record breaking $0.42422 in September 10, gaining more than 450% within the first week.

Fabric (FAB) price chart for the last 30 days. Source: CoinMarketCap

After peaking at its ATH, FAB experienced a sharp correction that saw it decrease as low as $0.1722. Fabric gained over 19% in the past 24 hours. Fabric now trades for $0.1774. Fabric is the #11039 most valuable crypto with a market capital of $8.77million.

On The Flipside

  • Despite offering some remarkable services, Fabric lies down the crypto pecking order in popularity and adoption
  • In addition, Fabric (FAB) has experienced a significant correction just one week after topping $0.424
  • FAB now trades at $0.1774, 58% down from it September 10, ATH

Community

As a young project in the crypto space, Fabric is only building its community. Fabric’s members are called FABulous. It has 19k Twitter followers (NYSE:), and 2k Discord users.

Although Fabric doesn’t have the biggest community support, its members are ardent followers of the project. A Twitter user, @SecretSalsa_, wrote about Fabric,

A Twitter user, @KYNNIVIL, in sharing his thoughts on the Fabric project, wrote;

Another Twitter user, @0xDEADBEEFx, shared his thoughts;

However, there are members of the community who are impatient with the slow growth of the network. One such user, Selim Han, wrote on Twitter;

Why You Should Care?

Fabric is still a young project and is not yet getting much market attention. However, it is progressing in the right direction. With events lined for the rest of 2021, the next couple of months could potentially be critical in shaping the project’s future.

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