Hi, welcome to Canreef!
Frag fest or frag swap is usually put together by hobbyists or LFS who like to sell and trade corals that has been over grown in the tank. Frag means fragiments of corals that you have propagated. You can pretty much frag anything as long as you know the proper technique. It's also a great way to pass on corals without having to take more from the wild. Frags are usually cheaper and more resilient then there wild counterparts plus the less chance of it being infested with any unwanted pests.
I think there will be one happening in November on the island and I am also planing on having one soon on the mainland.
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