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Circle USYC (USYC) $ 1.10

Liquid Staking Protocol Jito Soars 9% After Restaking Program Code Announcement

By admin On Jul 26, 2024

Solana-based liquid staking protocol Jito (JTO) has seen a significant gain, with its price soaring 9% after the platform announced the code for its restaking program. The platform noted that it will be the next-generation hybrid staking and restaking module. The community has rallied around the program, pushing the price up against the overall decline.

Jito has released the code for its restaking module. According to the release, it will consist of a Vault program and a restaking program working together to provide a scalable infrastructure for managing staked assets and actively validated services (AVS). Both frameworks emphasize a flexible mechanism for enabling economic security for both on-chain and off-chain activities.

The platform’s multi-asset restaking allows users leverage on staked-based assets and also allows slashing conditions with caps to lower risk. The Vault Program will handle the creation of Liquid Restaking Tokens, support SPL as the underlying asset, create delegations strategies, and roll out cap and slashing conditions.

Image: The Block

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