Solana’s blockchain has found its champion in Jito, with a staggering 38% of assets placed in its trust. This makes Jito the reigning giant of the SOL ecosystem, solidifying its dominance and securing its place at the forefront of the digital world.
According to the data experts at DefiLlama, Jito is taking the Solana (SOL) community by storm as the top project, boasting a whopping 10 million SOL in total value locked (TVL). This game-changing platform, which made its debut last December, made headlines with a jaw-dropping $165 million token airdrop.
But here’s the catch – users had to lock up their SOL for a set period to be eligible for this community incentive. With a massive $10 million series A funding round led by industry giants Multicoin Capital and Framework Ventures, Jito is one to watch in the world of liquid staking and MEV provision.
Amidst the tumultuous crypto market, Jito’s TVL has soared to an impressive $1.4 billion, while SOL is currently trading at a modest $140 per CoinMarketCap. Despite this, Jito’s blockchain continues to reign as the fourth-highest destination for defi users’ deposits.
And it’s not just Jito that is thriving on the SOL network – staking protocol Marinade Finance has claimed the second spot with a TVL of $1.3 billion, proving the growing demand for lucrative yield opportunities on this layer 1 chain.
The untold story of the $45 billion liquid staking world, where three powerhouse services reign supreme. While Lido, Rocket Pool, and Binance have taken the lead with an impressive $34.1 billion combined, the dynamic duo of Solana protocols have yet to make their mark on the top three.
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Solana’s biggest player eyes restaking trend
According to a recent report from four insiders, Jito Labs, the mastermind behind Jito’s innovative protocol, is gearing up to introduce restaking capabilities to the thriving Solana network.
Discover the thrilling world of restaking, where the power of EigenLayer has revolutionized the game and allowed users to fortify their dapps and solutions with the almighty Ether (ETH). But hold onto your hats, because a new player is about to shake things up.
Jito is gearing up to take on the $15.2 billion restaking market, currently ruled by EigenLayer, and is poised to make a splash in the dynamic liquid restaking scene alongside the likes of Ether.fi.