Jito Amasses 14.7M $SOL in TVL Amid Surging Restaking Demand

Solana’s biggest DeFi protocol records a new ATH in $SOL TVL.

Published: Jan 9, 2025 at 12:24

Jito, one of Solana’s leading infrastructure and staking providers, continues to dominate onchain TVL (Total Value Locked). Edging out other Solana DeFi powerhouses like Jupiter and Raydium, Jito maintains pole position, boasting over $2.86B in TVL.

While Jito’s TVL has grown consistently throughout the 2024/2025 crypto bullrun, the protocol’s foray into the restaking sector has helped Jito access emerging markets.

Which protocols are turning to Jito for staking services and what’s the expected outcome of Jito’s ongoing governance proposal, JIP-10?

Jito Cracks New ATH in $SOL TVL

Leading Solana DeFi from the front, Jito’s $SOL TVL is in an extended period of ‘up only’. Notching new all-time highs every month throughout 2024, JitoSOL is Solana’s biggest source of onchain TVL, commanding 14.7M $SOL in TVL based on Jito data.

jito TVL

Despite reaching new highs in $SOL terms, JitoSOL TVL in USD is down 21.36% from its all-time high of $3.65B, recorded on November 23rd, 2024. This pullback is predominantly due to a retrace in $SOL price.

LST market

Solana’s leading liquid staking provider, JitoSOL constitutes 3.6% of the network’s total stake and roughly 40.9% of LST market share, beating out second-placed Binance ($bnSOL), which boasts over 6.5M staked $SOL, based on Dune Analytics data.

Restaking Demand Heats Up

Beyond liquid staking, Jito is emerging as one of Solana’s premier restaking protocols. Jito has secured several critical partnerships with emerging projects, offering restaking services to help secure new L1 blockchains like N1Chain.

Jito’s earlier restaking partners include DeFi protocols like Renzo, Fragmetric, and Kyros. According to Jito data presented on Dune Analytics, over 192k $SOL has been collectively deposited into Jito restaking vaults, valued at over $44M USD.

jito restaking

Despite Jito’s progress in the restaking sector, it still falls short of the market leader. Solayer, Solana’s largest restaking solution, currently holds over 1.81M $SOL in deposited assets, currently valued at over $346M.

Jito Governance Proposal to Pass in Landslide

Alongside its flourishing TVL and restaking protocol, $JTO token holders are unanimously aligned on matters of platform governance.

JID-10 is an ongoing governance vote to integrate $JTO staking into the protocol’s NCN (Node Consensus Network), essentially adding a layer of economic security and bringing new utility to the $JTO token.

JTO governance

Following its opening on January 8th, $JTO holders and governance participants have demonstrated overwhelming support for the proposal. At press time, 99.9% of voters have opted in favor of the proposal, indicating that the JID-10 will pass after voting closes in over two days time.