JITO PROTOCOL EXPERIENCES DOWNTIME, DRIVING UP SOLANA TRANSACTION FEES

Jito, a leading MEV (Maximum Extractable Value) protocol on Solana, experienced a temporary system outage early Wednesday, resulting in a sharp increase in transaction fees on the Solana blockchain.

Jito Labs confirmed that while network liveness remained unaffected, priority fees surged by 25-30 times, with mean transaction fees hitting $0.03 during the incident.

Mert Mumtaz, Helius co-founder, commented that the outage likely stemmed from high demand overloading Jito’s block engine.

The issue was resolved within an hour, with Jito Labs working on a post-mortem report.