Solana’s Jito staking pool has experienced significant financial success, achieving over $100 million in monthly tips during November and December, according to reports from Kairos Research. The Jito pool, used by more than 93% of Solana’s validators, has averaged a monthly revenue increase of 32% over the past year, peaking at $210 million in November. This surge in revenue highlights the growing popularity of the Solana network and the increasing earnings validators receive from prioritizing certain transactions, a practice known as Maximum Extractable Value (MEV).
For the first time, Solana’s validators have outperformed Ethereum’s in MEV earnings, with the network’s transaction fees almost tripling from 60,000 SOL daily in January to over 150,000 in October, as per Dune Analytics. The adoption of Jito’s software across the majority of Solana validators has played a crucial role in maximizing earnings through efficient block-building.
Jito’s influence extends beyond MEV as it offers a liquid restaking token (LRT) known as JitoSOL, which has positioned it as Solana’s leading decentralized finance (DeFi) protocol with nearly $2.75 billion in total value locked, according to DefiLlama. Restaking involves using staked tokens as collateral across multiple protocols, with JitoSOL holders recently benefiting from a governance vote to distribute 0.15% of tip revenue to them. JitoSOL restakers currently enjoy yields of approximately 8.6%, though Ethereum remains dominant in staking and restaking total value locked (TVL) with EigenLayer at the forefront.
