Fractal Bitcoin completes first halving, expands to Bitcoin mainnet

This halving is notable less for the reward cut itself than for the structural shift it signals: Fractal is coupling its issuance to Bitcoin's mainnet, effectively creating a two-layer distribution model. The significance lies in how this could tie Fractal's security and token economics more directly to Bitcoin's ecosystem, potentially affecting miners and holders of FB on both layers. With FIP-103 still to define mainnet distribution specifics and a 2027 target, the near-term watch is whether this bridge to mainnet gains traction or remains a technical formality. Whether the expanded issuance horizon stabilizes or fragments Fractal's value proposition is the open question.