Jito Staked SOLPrice

(JITOSOL)

Jito Staked SOL, known as JitoSOL, is a liquid staking protocol developed for the Solana blockchain. It is governed by the Jito Foundation and aims to increase the utility of staked assets. In a traditional staking environment, assets are typically locked and cannot be moved or used in other applications. JitoSOL provides a solution by issuing a liquid token to users who deposit their assets into the protocol staking pool. This token represents the user stake and can be used in various decentralized finance applications while the underlying assets remain staked to secure the network. One of the primary innovations of this project is its focus on Maximum Extractable Value, or MEV. The protocol uses a custom validator client and a specialized block engine to optimize transaction ordering on the blockchain. This technology identifies and captures extra value from the way transactions are sequenced. These captures are then shared with the holders of the liquid token. Because of this mechanism, the value of the liquid token increases relative to the original asset as it accumulates both standard network rewards and these additional captures over time. This makes it a reward-bearing asset where rewards are automatically reflected in the token exchange rate rather than being distributed as separate payouts. Beyond providing rewards, the project plays a role in the health of the broader ecosystem. It uses a delegation strategy that distributes assets across a wide range of high-performing validators. This encourages decentralization and ensures that the network remains resilient. For participants, the liquid token is a common collateral type in lending markets and is frequently used in liquidity pools. It is integrated into many major platforms within its ecosystem, allowing for strategies involving borrowing and providing market depth. The project is part of a larger network that includes a dedicated governance token. This governance token allows the community to participate in decision-making processes, such as setting protocol parameters and choosing delegation strategies. The foundation also emphasizes security, maintaining open-source repositories to ensure the transparency of its smart contracts. Overall, JitoSOL serves as a foundational layer for users who want to contribute to network security while maintaining the flexibility to use their assets in other ways. Learn more

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