{"id":229244,"date":"2024-07-25T17:53:01","date_gmt":"2024-07-25T17:53:01","guid":{"rendered":"https:\/\/newhampshiredigitalnews.com\/index.php\/2024\/07\/25\/jito-to-introduce-restaking-on-solana\/"},"modified":"2024-07-25T17:53:01","modified_gmt":"2024-07-25T17:53:01","slug":"jito-to-introduce-restaking-on-solana","status":"publish","type":"post","link":"https:\/\/newhampshiredigitalnews.com\/index.php\/2024\/07\/25\/jito-to-introduce-restaking-on-solana\/","title":{"rendered":"Jito to introduce restaking on Solana"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"is-style-lead\">Developers are one step closer to activating restaking on Solana with the Jito Foundation\u2019s latest code release.<\/p>\n<p>On July 25, the Jito protocol <a href=\"https:\/\/www.jito.network\/blog\/announcing-jito-restaking\/\" target=\"_blank\" rel=\"noopener\">published<\/a> its first code base for unlocking staking and restaking platforms on Solana (<a href=\"https:\/\/crypto.news\/price\/solana\/\" target=\"_blank\" rel=\"noreferrer noopener\">SOL<\/a>). Although the code hasn\u2019t been edited, it could potentially enable any Solana-native protocol to secure decentralized apps with any cryptocurrency.<\/p>\n<p>The move would also extend to actively validated services, commonly called AVS.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1. Announcing Jito Restaking: A Next-Gen Infrastructure Platform<\/p>\n<p>The Jito Foundation is excited to release the code for Jito Restaking, a hybrid staking, restaking, and LRT module. \ud83e\udd1d<\/p>\n<p>Wtf is that? Lets dive in. \u2193 <a href=\"https:\/\/t.co\/7nDaZdnZIn\" target=\"_blank\" rel=\"noopener\">pic.twitter.com\/7nDaZdnZIn<\/a><\/p>\n<p>\u2014 Jito (@jito_sol) <a href=\"https:\/\/twitter.com\/jito_sol\/status\/1816488798374830164?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">July 25, 2024<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Restaking took off last year when protocols like Ethereum\u2019s EigenLayer (EIGEN) allowed users and protocols to deploy staked digital assets on multiple networks.\u00a0EigenLayer effectively advanced staking utility and economic security beyond the confines of blockchains or dapps where users originally locked their cryptocurrencies.\u00a0<\/p>\n<p>Jito piggybacked off this idea but veered away from EigenLayer\u2019s restrictions. Where EigenLayer supports only Ether (<a href=\"https:\/\/crypto.news\/price\/ethereum\/\" target=\"_blank\" rel=\"noreferrer noopener\">ETH<\/a>), EIGEN, and ETH derivatives, Jito hopes to include a wider array of assets.\u00a0<\/p>\n<p>\u201cJito Restaking is fundamentally multi-asset, capable of leveraging staked base assets such as JitoSOL, other liquid staking tokens, or any other SPL token,\u201d the blog post read.<\/p>\n<p>The concept of restaking has set Solana\u2019s ecosystem abuzz for months, with several teams and developer groups reportedly working on the mechanism.\u00a0<\/p>\n<p>At the time of publication, Jito seems to lead the pack with its restaking code. Nothing indicates that Jito has deployed its idea on-chain yet, but releasing the code suggests that it may come soon.\u00a0Jito\u2019s native token, <a href=\"https:\/\/crypto.news\/price\/jito\/\" target=\"_blank\" rel=\"noreferrer noopener\">JTO<\/a>, grew 8.5% in 24 hours following the news while a downswing swept the broader crypto market.<\/p>\n<figure class=\"wp-block-image size-full\"><picture decoding=\"async\" class=\"wp-image-14287258\"><source type=\"image\/webp\" srcset=\"https:\/\/crypto.news\/app\/uploads\/2024\/07\/JTOUSDT_2024-07-25_17-40-48.png.webp\"\/><img fetchpriority=\"high\" decoding=\"async\" width=\"1113\" height=\"653\" src=\"https:\/\/crypto.news\/app\/uploads\/2024\/07\/JTOUSDT_2024-07-25_17-40-48.png\" alt=\"Jito to introduce restaking on Solana - 1\"\/>\n<\/picture><figcaption class=\"wp-element-caption\">24-hour JTO price chart on July 25 | Source: <a href=\"https:\/\/crypto.news\/price\/jito\/\">crypto.news<\/a><\/figcaption><\/figure>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/crypto.news\/jito-to-introduce-restaking-on-solana\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Developers are one step closer to activating restaking on Solana with the Jito Foundation\u2019s latest code release. On July 25, the Jito protocol published its<\/p>\n","protected":false},"author":1,"featured_media":229245,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[163],"tags":[],"class_list":["post-229244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/229244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=229244"}],"version-history":[{"count":0,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/229244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/229245"}],"wp:attachment":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=229244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=229244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=229244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}