On Thursday, Solana took a significant step forward in its development with the Jito Foundation’s release of the first open-source code for a staking and restaking program on the network.
Restaking allows blockchain networks to use the value of staked assets as collateral to bolster the integrity and security of their operations.
Jito’s new code, which has yet to undergo an audit, is designed to enable any protocol on Solana to implement mechanisms that provide economic security to a wide range of on-chain applications or “actively validated services” (AVSs). Unlike EigenLayer’s approach on Ethereum, which limits collateral to ETH, ETH derivatives, and EIGEN tokens, Jito’s system offers greater flexibility by allowing users to use any crypto asset for securing AVSs.
Lucas Bruder, a contributor at Jito Network, highlighted the importance of this flexibility: “The customization provided by this architecture will be particularly beneficial for the AVSs, which are the primary users of these systems.”
Several protocols and startups are exploring restaking solutions for Solana. With the release of its code, Jito is positioning itself as a frontrunner in this space. However, sources indicate that Jito has yet to deploy the code on the mainnet, with plans to do so later this year.
