With a Total Value Locked (TVL) of over $1.4 billion, Jito has grown into the most important protocol in the SOL blockchain. The company offers MEV and liquid staking. Being green in SOL has never been better.
A new study from DefiLlama says that Jito is the most used protocol. A big 10 million SOL in TVL is responsible for about 38% of the things saved on Solana’s blockchain. Now that this big step has been taken, Jito is the most important project in Solana’s growing space for decentralized finance (DeFi).
Before Jito came out in December of last year, it had a program called “airdrop” that gave away $165 million worth of tokens. This made it very popular very quickly. Users had to hold SOL for a while to get this group bonus. A $10 million Series A round of funding led by Frame Ventures and Multicoin Capital helped Jito get off to a good start.
Solana’s Stalwart Jito TVL Trends Defy Market Downturn
Jito’s TVL keeps rising, even though the coin market has decreased lately. It’s now more than $1.4 billion. CoinMarketCap shows that SOL is selling below $140 simultaneously as this amazing accomplishment. Even though the market has changed, Solana is still the fourth-biggest blockchain regarding how much funds DeFi users have put into it.
Marinade Finance is its name, and its TVL is $1.3 billion. This makes it the second-best system on Solana’s network, just behind Jito. Because of this rise, we need sites that make money in Solana’s layer 1 chain more than ever.
Three main services rule the $45 billion cash holding market, but Jito and Marinade Finance are not one of them. These three companies are very well known in this area. They have raised $27.9 billion, $3.6 billion, and $2.6 billion, respectively.
There has been a lot of growth in Solana’s Jito. This is great for the protocol and shows the importance of the platform in the DeFi world. The fact that Jito is strong shows that the blockchain and the protocol are moving correctly. A lot of individuals and funds are still going to Solana.
