Jito invests Ethereum, Uniswap and Solana in a crucial metric

Jito, the largest liquid staking project on Solana, is doing well as the total value locked (TVL) on its platform and its fees hit a record high.

According to data about his websiteJito (JTO) has a TVL of 14.6 million SOL, equivalent to $2.7 billion. This volume makes it the 14th largest player in the decentralized finance industry and the third largest liquid staking protocol after Lido and Binance Staked eth.

Jito is outperforming Solana, ethereum and Uniswap this year

Jito has almost 150,000 users and has also surpassed Solana (SOL), ethereum (eth), and Uniswap in fees charged this year.

According Token TerminalJito has earned $63 million in fees this year, compared to $55.1 million for ethereum. Solana and Uniswap (UNI) have earned $51 million and $42.1 million, respectively.

Jito's performance makes it the third-largest crypto project in terms of fees this year after Tether and Tron, which earned $137 million and $100 million. It has also become the most profitable player in the DeFi industry. Its fees are also higher than those of Lido Finance, the largest liquid betting platform that has earned $31 million this year.

It has also generated $729 million in fees in the last 12 months and $559 million in the last 180 days.

Jito's daily rates have recovered after falling to $2.25 million in December from an all-time high of $14.1 million in November.

Jito offers two main solutions

Jito offers its clients liquid betting and staking. In liquid staking, users transfer their staked tokens to the network and convert them into JitoSOL, a liquid staking token or LST.

Unlike the traditional staking approach, LST is a liquid token, allowing its holders to trade it and use it in DeFi protocols. According to Jito, the current yield on staked LST is 9.81%, higher than Solana's average. bet performance of 7.4%.

Jito has also introduced reset, a service that tokenizes staked assets as Vault Receipt Tokens, also known as VRT. Recovery helps holders of staked assets generate more returns over time. The renewed Jito tokens have a total locked value of $42.6 million.

The Jito token, however, has not performed well after its airdrop in 2023. It was trading at $2.64 on January 12, down 40% from its highest level in December and down 50% from its all-time high of $5.3.

This performance is due to regular dilution on the network as 11.31 million JTO tokens will be released each month until December 2026. There are 281 million JTO tokens in circulation against a supply limit of 281 million.