Jito, a key validator on the Solana blockchain, is introducing re-staking services. Users can now deposit SOL and Solana-based liquid staking tokens to earn passive income. Jito aims to replicate Ethereum's security model and will partner with other Solana players like Helius and Circle. Initially, deposits will be limited to $25 million to ensure sustainability. Jito's introduction of liquid staking and re-staking will unlock the value of SOL without selling it. Additionally, Jito is a major contributor to Solana's transaction fees and has attracted over 1.5 million SOL in validator tips. The project holds more than $2.4 billion in locked value. While the Jito native token, JTO, has underperformed, it may rally if short positions are attacked. In early 2025, the supply of JTO will increase significantly. Jito Labs was created in 2022 with funding from Multicoin Capital.
- Content Editor ( cryptopolitan.com )
- 2024-10-30
Jito opens re-staking deposits with $25M initial limit