Jito is the largest protocol within Solana’s ecosystem, with approximately 38% of assets deposited on the blockchain. According to DefiLlama data, Jito is Solana’s biggest project, with a total value locked (TVL) of around 10 million SOL.

Jito was launched in December last year and conducted a successful airdrop, distributing $165 million in free tokens to users who staked SOL for a qualifying period. This community incentive was supported by a $10 million series A funding round led by Multicoin Capital and Framework Ventures.

Despite the recent downturn in the crypto market, Jito’s TVL is now valued at over $1.4 billion, with SOL trading at under $140 per CoinMarketCap. Despite this, Solana still maintains the fourth-highest deposits from defi users.

Following Jito, staking protocol Marinade Finance holds the second spot on SOL’s network with a TVL of $1.3 billion, indicating a strong demand for yield-generating platforms on the layer 1 chain.

While Jito and Marinade Finance are not among the top three services in the $45 billion liquid staking landscape, other platforms such as Lido, Rocket Pool, and Binance have garnered the most participation with $27.9 billion, $3.6 billion, and $2.6 billion respectively.

Reports suggest that Jito Labs, the entity behind Jito’s protocol, is planning to introduce restaking facilities to Solana’s network. Restaking gained popularity last year with services like EigenLayer, enabling users to secure multiple dapps and solutions with native cryptocurrencies, particularly Ether (ETH). If successful, Jito could tap into the $15.2 billion restaking market dominated by EigenLayer and potentially enter the liquid restaking scene with projects like Ether.fi.

For more insights:

– CoinGecko: Ethereum overtakes Solana by DEX trading volume

– Solana’s biggest player eyes restaking trend

Ethereum restaking protocols’ TVL exceeds $8b

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