The Price of Solana-Based Altcoin Suddenly Jumped with the Restaking Announcement!

Jito introduced the new Jito Restaking platform; While this solution increased token usage, it also caused an increase in price.

Jito Foundation, the team behind Jito on the Solana network, announced the launch of Jito Restaking. Jito Restaking stands out as an innovative infrastructure solution that includes hybrid staking, restaking and LRT (Liquid Restaking Token) modules.

In the statement, the following statements were made regarding re-staking:

Jito Restaking consists of two main components: Vault Program and Restaking Program. The Vault Program manages Liquid Restaking Tokens (LRT), offers support for any SPL tokens and implements flexible slashing conditions. The Restaking Program manages AVSs and operators, coordinates relationships and implements reward and penalty mechanisms.

In parallel, Jito Restaking supports network consensus and economic security by increasing token usage. It aims to support various staking strategies and secure networks by offering multi-asset support and secure networks such as layer-2 sequencers, insurance funds and cross-chain bridges.

Jito (JTO) coin price increased

According to CoinGecko data, JTO price started to move in parallel with the announcement. JTO increased by 7.45% from $ 2,679 to $ 2,879 due to the news flow. At the time of writing, it is trading at $2.83.