This article examines the rapid growth in fees generated by JitoSOL, surpassing even Solana’s main net payments, and its implications for the Solana ecosystem.
Points
- JitoSOL surpasses Solana main net in terms of fees.
- JitoSOL’s growth driven by liquid staking and block services.
- JitoSOL’s re-staking product announcement boosts activity and fees.
JitoSOL’s Fee Growth
JitoSOL has experienced aggressive growth in its fees, primarily driven by liquid staking. At one point, JitoSOL accounted for up to 60% of Solana’s fees. This significant fee generation has turned JitoSOL into a “fat-fee” app, surpassing even Bitcoin and Ethereum in daily fees.
https://twitter.com/tokenterminal/status/1817985048907497916
In the past week alone, JitoSOL received $13.4 million in fees, while Solana had $13.8 million. Ethereum, with its recent network updates and L2 layer usage, generated $16 million in fees. LidoDAO, Ethereum’s top staking protocol, led with $20 million in fees, placing JitoSOL within a competitive range.
Re-staking Product and Market Impact
JitoSOL’s announcement of a new liquid re-staking product has further boosted its fees and activity. Modeled after Eigen Layer, JitoSOL aims to enhance its offerings by becoming a hub for new token creation and re-staking protocols. This development is expected to increase SOL’s value, as more tokens get locked in staking protocols.
Key Takeaways
- JitoSOL has surpassed Solana’s main net in terms of fee generation, highlighting its importance in the ecosystem.
- The introduction of a liquid re-staking product is expected to drive further growth and activity.
- JitoSOL’s success underscores the potential of liquid staking and innovative block services within the Solana ecosystem.
解説
- Fee Generation: JitoSOL’s ability to generate substantial fees highlights the growing importance of liquid staking and block services within the Solana ecosystem. This trend suggests a robust demand for staking solutions that offer flexibility and high returns.
- Re-staking Innovation: The introduction of liquid re-staking products positions JitoSOL as a key player in the Solana ecosystem, driving further token locking and increasing SOL’s scarcity. This development is crucial for the ecosystem’s growth and the value of SOL.
- Market Positioning: By surpassing Solana’s main net payments and competing with top platforms like Ethereum, JitoSOL demonstrates the potential of innovative staking solutions to reshape the fee landscape and attract significant activity and investment.