TL;DR
- The code for Jito Restaking has been released on the Solana blockchain, a platform that integrates staking, restaking, and a liquid restaking token (LRT) module.
- It includes the Vault Program, which manages the creation and operation of LRTs with any SPL token, and the Restaking Program, which facilitates the management of AVSs and operators, distributes rewards, and applies slashing penalties.
- The technology allows the use of multiple assets, such as JitoSOL and other SPL tokens, for advanced staking and delegation strategies.
The code for Jito Restaking has been introduced on the Solana blockchain. This innovative platform combines staking, restaking, and a liquid restaking token (LRT) module. The new infrastructure focuses on providing a flexible and scalable solution for creating and managing staked assets, LRTs, and Actively Validated Services (AVSs).
The program is composed of two main programs: the Vault Program and the Restaking Program. The Vault Program handles the creation and operation of LRTs, allowing the use of any SPL token as the underlying asset. Additionally, it manages the minting, burning, and delegation of these tokens and facilitates customizable delegation strategies that can be controlled by DAOs, multi-sigs, or on-chain automation from protocols like StakeNet. It also sets flexible slashing conditions and caps as defined by the associated AVS.
1. Announcing Jito Restaking: A Next-Gen Infrastructure Platform
The Jito Foundation is excited to release the code for Jito Restaking, a hybrid staking, restaking, and LRT module. 🤝
Wtf is that? Lets dive in. ↓ pic.twitter.com/7nDaZdnZIn
— Jito (@jito_sol) July 25, 2024
The Restaking Program, on the other hand, facilitates the creation and management of AVSs and operators, coordinating relationships between these and the vaults. It implements flexible opt-in/opt-out mechanisms for AVSs, operators, and vaults, and manages the distribution of rewards and enforcement of slashing penalties. This structure allows the program to offer a lightweight and adaptable way for networks to achieve consensus and economic security across a variety of on-chain and off-chain activities.
Jito Transforms Staking and Restaking on Solana
One of the distinctive features of Jito Restaking is its ability to handle multiple assets, allowing the use of staked base assets like JitoSOL, other liquid staking tokens, or any SPL token. This also enables detailed slashing conditions and the creation of liquid restaked tokens, expanding staking and delegation strategies within the Solana ecosystem.
A practical example of this technology is the hypothetical ORCL protocol, which uses Jito Restaking to establish a staking system with the $ORCL token and JitoSOL. This system allows for the penalization of nodes for poor behavior and adds a secondary asset to protect against exotic economic attacks. Additionally, ORCL will be able to issue liquid restaked tokens, maintaining liquidity for other uses in DeFi.
The platform is designed with the aim of accelerating innovation, enhancing token utility, and improving the security of networks and services at scale. Although the code has not yet been audited or implemented on the mainnet, Jito Restaking is expected to transform the staking and restaking ecosystem on Solana, opening new possibilities for economic security and asset management in blockchain.
