Solana’s journey towards restaking received a significant boost recently thanks to the Jito Foundation’s latest innovation. The foundation has unveiled a new code for a staking and restaking program, marking the network’s first foray into this area. Restaking is a concept that allows blockchain networks to leverage the value of staked assets as collateral to ensure their integrity.
Although the code from Jito has not yet undergone an audit, it is designed to enable any protocol built on Solana to establish a mechanism for providing economic security to a wide range of on-chain applications, also known as “actively validated services” (AVS). One key feature of Jito’s code is the ability for users to secure AVSs using any crypto asset of their choice. This flexibility sets it apart from the restaking model popularized by EigenLayer on the Ethereum network, which limits collateral options to ETH, certain ETH derivatives, and the platform’s native EIGEN tokens.
Lucas Bruder, a contributor at Jito Network, highlighted the importance of this architecture’s flexibility and customization, particularly for AVSs. While several protocols and startups are exploring the development of restaking services for Solana, Jito’s code release positions it as a frontrunner in this space. However, sources familiar with the project indicated that the code has not yet been implemented on the mainnet, with that stage expected to occur later this year.
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As the cryptocurrency landscape continues to evolve, innovations like Jito’s open-source restaking service for Solana are poised to drive the industry forward. By enabling greater flexibility and security for on-chain applications, this development has the potential to enhance the overall functionality and utility of blockchain networks. Keep an eye on the progress of Jito’s code implementation on Solana’s mainnet to see how this innovation unfolds in the coming months.