The Jito protocol released its first code base on July 25. This code base is meant to make staking and restaking platforms possible on Solana. The code has not been changed yet, but it could let any Solana-native protocol protect decentralized apps with any coin.
Actively verified services (AVS) could also be affected by this change. Last year, protocols like Ethereum’s EigenLayer (EIGEN) made staking popular by letting users and protocols use claimed digital assets on more than one network.
Multi-Asset Restaking On Solana
EigenLayer made staking more useful and increased economic security beyond the blockchains or dapps where users locked their cryptocurrencies at first. Jito has taken this idea but gone against EigenLayer’s restrictions. EigenLayer can only handle Ether, EIGEN, and ETH derivatives. Jito, on the other hand, wants to support more commodities.
Jito wrote in a blog post that Jito Restaking is “fundamentally multi-asset,” which means it can use claimed base assets like JitoSOL, other liquid staking tokens, or any other SPL token.
There is a lot of interest in the idea of restaking in the Solana environment, and it is said that several teams and developer groups are working on the mechanism.
As of right now, Jito’s restaking code seems to be the best. Even though Jito hasn’t put its idea into action on the blockchain yet, the fact that the code was made public says that it may be doing so soon. After the news came out, JTO, Jito’s own token, went up by 8.5% in 24 hours, even though the crypto market as a whole went down.
