Developers are one step closer to activating restaking on Solana with the Jito Foundation’s latest code release on July 25, 2024. The Jito protocol published its first code base for enabling staking and restaking platforms on Solana (SOL).
This release could potentially allow any Solana-native protocol to secure decentralized apps with any cryptocurrency. The move also extends to actively validated services (AVS). Jito Restaking aims to support a wider array of assets compared to Ethereum’s EigenLayer, which only supports Ether (ETH), EIGEN, and ETH derivatives.
“Jito Restaking is fundamentally multi-asset, capable of leveraging staked base assets such as JitoSOL, other liquid staking tokens, or any other SPL token,” the Jito Foundation stated. Jito’s release has set Solana’s ecosystem abuzz, and its native token, JTO, surged 8.5% in 24 hours following the news.
Releasing this code suggests imminent deployment, highlighting Jito’s leading role in advancing Solana’s staking capabilities. This development could significantly enhance the economic security and utility of digital assets within the Solana ecosystem.
