Jito staking pool reaches $100M in monthly tips for Solana

Solana’s (CRYPTO:SOL) Jito (CRYPTO:JTO) staking pool has exceeded $100 million in monthly tip revenues for November and December, according to a December 26 report from Kairos Research.

In 2024, Jito’s validators managed to increase tip revenues by 32% each month, with a peak of approximately $210 million in November.

This increase indicates the rising popularity of the Solana network and validators’ growing earnings from Maximum Extractable Value (MEV).

MEV occurs when users pay validators tips to prioritise their transactions during block building, ensuring timely execution, but also leading to higher transaction costs.

In 2024, Solana's validators earned more from MEV than Ethereum's (CRYPTO:ETH) for the first time.

This coincided with the rise in transaction fees on Solana, which nearly tripled from 60,000 SOL per day in January to more than 150,000 SOL in October, as noted by Dune Analytics.

As of December 26, over 93% of Solana validators are using Jito’s software to maximise their block-building earnings, according to Jito Labs.

Jito has become a significant player in Solana’s decentralised finance (DeFi) space, with nearly $2.75 billion in total value locked (TVL), as reported by DefiLlama.

Jito also offers a liquid restaking token (LRT), JitoSOL, which allows users to stake tokens on multiple protocols.

In October 2024, holders of Jito’s governance token, JTO, voted to allocate 0.15% of tip revenues to JitoSOL restakers.

However, validators will continue to receive the majority of the income from the tips.

JitoSOL restakers currently enjoy yields of approximately 8.6%.

At the time of reporting, the Solana (SOL) price was $189.48, and the Jito (JTO) price was $3.18.