October 28, 2024 • 2 minute reading time

Jito (Re)staking Deposits Launch: Phase 1

Jito Foundation
推特
連結
Solana HFT

The Jito Foundation is pleased to announce Phase 1 of Jito (Re)staking! Beginning on October 30th, users will be able to boost their staking rewards by providing economic security for key Solana infrastructure. 

Key Details:

On Wednesday, October 30th at 11 AM ET/3 PM UTC, Jito (Re)staking will officially open for deposits.

Deposits will be available on the Jito (Re)staking homepage, as well as via frontends provided by VRT vault managers Renzo, Kyros, and Fragmetric

During Phase 1, global caps for Jito (Re)staking will be set at $25m in deposits to ensure a sustainable and secure launch, split evenly between the three VRTs. Caps will be raised in the coming weeks. 

Initial assets accepted will be SOL and SOL LSTs. Deposit functionality for additional assets will be added in the future. 

Jito will be incentivizing JitoSOL/VRT liquidity pools via Kamino vaults to help establish liquidity for each of the three VRTs. Please follow our Twitter for launch details for the vaults. 

Deposit functionality has been audited by Certora and Ottersec, with ongoing internal review by Asymmetric Research. 

What is Jito (Re)staking?

Jito (Re)staking is a multi-asset, hybrid staking and restaking protocol that leverages Node Consensus Networks (NCNs) to unlock capital efficiency for stakers. By tokenizing staked assets into Vault Receipt Tokens (VRTs), users can enjoy liquidity while their assets earn boosted rewards from protocols across the Solana ecosystem.

Features include: 

    • Multi-Asset Flexibility: NCN’s can leverage any SPL token as a form of economic security, allowing users to earn rewards in new ways on a wide range of assets. 
    • Enhanced Liquidity: The introduction of VRTs means users can keep their assets liquid while earning rewards. These tokens can be used across the Solana DeFi ecosystem, unlocking the potential for additional opportunities.
    • Boosted Rewards: Users can participate in securing multiple networks simultaneously, earning higher rewards through multi-network staking. This means stakers can contribute to various services within Solana while maximizing rewards.

Early (Re)staking partners include protocols such as Squads, Switchboard, and Sonic. Additionally, Jito (Re)staking may be used to secure key Jito Network infrastructure, including the TipRouter MEV distribution protocol

Please read our (Re)staking announcement post for more information.