LIVE#Write2earn #Jito Surpasses $1.3 Billion Milestone: Exploring #Restaking Protocols on #Solana #RestakingSolana
Jito, a liquid staking pool operating on the Solana blockchain, has recently achieved a significant milestone by surpassing a total value locked (TVL) of 10 million Solana (SOL). At Solana's current price of $132.11, this amounts to a remarkable $1.32 billion.
This achievement not only solidifies Jito's presence within the Solana ecosystem but also reflects a growing interest in the platform.
Jito's foray into Restaking Protocols
While Jito had previously reached a higher TVL in fiat, approximately $1.86 billion, on April 1, it's important to note that these figures are subject to the volatile nature of cryptocurrency values.
If Solana were to revisit its peak price of $208 earlier this year, Jito's TVL could potentially surge to around $2.08 billion, setting a new record for the platform.
Amidst this financial growth, there's speculation within the crypto community that Jito is exploring a new avenue—restaking protocols. Sources close to the project suggest that Jito is actively working towards enhancing Solana's capabilities by integrating restaking services. However, these reports have not been officially confirmed by Jito's team.
Restaking has emerged as a significant trend in the decentralized finance (DeFi) space. According to CoinGecko data, the "Restaking" category boasts a cumulative market capitalization of $8.64 billion as of the latest update.
EigenLayer, a project that popularized this trend, currently holds a TVL of $14.65 billion as of May 2, based on DefiLlama data.
Given the potential of restaking, it's plausible that Solana's developers are considering introducing this feature to their network. Picasso is currently the existing restaking protocol in Solana, allowing the staking of SOL and various receipt tokens from SOL staking platforms.
