Rocket

Solana

Marinade

EigenLayer

Jito

Jito boasts around 38% of assets deposited on Solana’s blockchain, and is now the biggest protocol within the SOL ecosystem. 
Data from DefiLlama revealed that liquid staking and MEV provider Jito is Solana’s (<a href="https://crypto.news/price/solana/" target="_blank" rel="">SOL</a>) largest project, with around 10 million SOL in total value locked (TVL).&nbsp; 
Jito launched in December last year and <a href="https://crypto.news/jitos-165m-airdrop-rains-on-solana/" rel="">distributed</a> $165 million in free tokens with an airdrop. Users had to stake SOL for a period to qualify for the community incentive, which was backed by a $10 million series A funding round led by Multicoin Capital and Framework Ventures.&nbsp; 
Following the latest crypto market downswing, Jito’s TVL is worth over $1.4 billion, with SOL trading under $140 per <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="">CoinMarketCap</a>, but the blockchain still boasts the fourth-highest deposits from defi users.&nbsp; 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14269992"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/05/Screenshot-437-1024x753.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="753" src="https://crypto.news/app/uploads/2024/05/Screenshot-437-1024x753.png" alt="Solana ecosystem"> 
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 Top SOL protocols by TVL | Source: <a href="https://defillama.com/chain/Solana" target="_blank" rel="">DefiLlama</a>
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Tailing Jito, staking protocol Marinade Finance ranked second on SOL’s network at a $1.3 TVL, signaling demand for yield-generating platforms on the layer 1 chain.&nbsp; 
However, the two Solana protocols are not among the top three services leading the $45 billion liquid staking landscape. Lido, Rocket Pool, and Binance have amassed the most participation, with $27.9 billion, $3.6 billion, and $2.6 billion, respectively.&nbsp; 
 You might also like: <a href="https://crypto.news/coingecko-ethereum-overtakes-solana-by-dex-trading-volume/" rel=""> CoinGecko: Ethereum overtakes Solana by DEX trading volume </a> 
<h2 class="wp-block-heading" id="solana-s-biggest-player-eyes-restaking-trend">Solana’s biggest player eyes restaking trend</h2> 
A report citing four individuals familiar with the matter said that Jito Labs, the entity behind Jito’s protocol, had plans to bring restaking facilities to Solana’s network.&nbsp; 
Restaking took off last year as services like <a href="https://crypto.news/eigenlayer-airdrop-draws-criticism-amidst-transferability-concerns-allocations/" target="_blank" rel="">EigenLayer</a> allowed users to secure multiple dapps and solutions with native cryptocurrencies, primarily Ether (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="">ETH</a>).&nbsp;If Jito succeeds, it will enter a $15.2 billion restaking market currently dominated by EigenLayer and likely foray into a liquid restaking scene with projects like <a href="https://crypto.news/ether-fi-outpaces-competitors-in-the-booming-liquid-staking-sector/" target="_blank" rel="">Ether.fi</a>.&nbsp; 
 Read more: <a href="https://crypto.news/ethereum-restaking-protocols-tvl-exceeds-8b/" rel=""> Ethereum restaking protocols’ TVL exceeds $8b </a>

Solana protocol Jito grabs $1.4b TVL

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