Latest news with #JitoLabs
Crypto Insight
06-08-2025
- Business
- Crypto Insight
US SEC says certain liquid staking activities fall outside of securities laws
The US Securities and Exchange Commission (SEC) has clarified that certain cryptocurrency liquid staking activities do not constitute securities offerings, a notable step in the agency's ongoing effort to provide clearer guidance on digital asset regulation. 'The statement clarifies the division's view that, depending on the facts and circumstances, the liquid staking activities covered in the statement do not involve the offer and sale of securities,' the regulator said Tuesday, referring to key sections of the Securities Act of 1933 and the Securities Exchange Act of 1934. In its Staff Statement, the SEC defined liquid staking as the process of staking digital assets through a protocol and receiving a 'liquid staking receipt token,' which serves as evidence of the staker's ownership. 'Today's staff statement on liquid staking is a significant step forward in clarifying the staff's view about crypto asset activities that do not fall within the SEC's jurisdiction,' SEC Chair Paul Atkins said in a statement. The SEC's clarification comes amid rising institutional interest in liquid staking exchange-traded funds (ETFs), with firms like Jito Labs, VanEck and Bitwise urging the agency to approve liquid staking strategies for Solana (SOL)-based funds. Liquid staking has become one of the largest subsectors in crypto, with total value locked (TVL) nearing $67 billion across all protocols, according to DefiLlama. Ethereum alone accounts for $51 billion of that total. SEC adopts pro-crypto approach under Paul Atkins The announcement follows the SEC's launch of Project Crypto — a sweeping initiative to overhaul the regulatory framework for cryptocurrency trading in the United States. As SEC Chair Paul Atkins noted last week, the project was developed in response to recommendations from the White House's Working Group on Digital Assets Since taking office, Atkins has led a more lenient approach to digital asset regulation, moving away from the agency's prior 'regulation by enforcement' stance under former Chair Gary Gensler. That shift included a May clarification that proof-of-stake protocols do not constitute securities transactions. Under Atkins's leadership, the SEC has also taken meaningful steps to ease regulatory burdens on cryptocurrency exchange-traded funds (ETFs). Notably, on July 29, the agency approved in-kind creations and redemptions for Bitcoin and Ether ETFs, allowing authorized participants to exchange ETF shares directly for the underlying assets rather than cash. The US crypto industry is also gaining momentum from sweeping policy reforms designed to make digital assets more accessible. These include the passage of the GENIUS Act, a landmark stablecoin bill, and House approval of market structure and anti-CBDC legislation ahead of the August recess. Source:
Yahoo
06-08-2025
- Business
- Yahoo
Solana's Jito Proposes Routing 100% of Block Engine Fees to DAO Treasury
Jito Labs proposed a new governance proposal on Tuesday, called JIP-24, aimed at decentralizing the network further by routing all its Block Engine and Block Assembly Marketplace (BAM) fees directly to the Jito DAO treasury. If approved, the DAO would assume control over protocol revenue streams, directing them to the network's JTO tokenholders. This in turn would reduce Jito Labs' own influence over the network of the same name, while a DAO subgroup takes on a greater role in development — which in turn Jito Labs hopes will ultimately boost the Jito token's value. Currently, rewards from Jito's Block Engine are split evenly — 3% to Jito Labs and 3% to the DAO. JIP-24 would eliminate this split, sending the full 6% of fees, along with all future BAM-related revenue, to the DAO treasury permanently. 'This proposal reflects the commitment of the Jito ecosystem to ensure that protocol fees accrue directly to the token holders as optimally as possible and cements the DAO as central to the technical and economic governance of the Jito Network,' the Jito Labs team wrote in their proposal. The Jito Network operates as a key block-building layer within Solana's ecosystem, offering MEV-focused tools like its Block Engine and BAM to optimize transaction sequencing and fee distribution. These tools allow validators to earn additional rewards while aligning incentives between network participants and tokenholders. A core element of the proposal is BAM, Jito's recently launched marketplace for programmable block assembly on Solana. BAM introduces 'plugins' that can modify transaction sequencing logic, potentially unlocking new revenue streams. According to the proposal, fees from BAM, particularly those linked to plugin activity, would also be routed to the DAO, contributing to what the team estimates will be $15 million in new annual revenue. The proposal also earmarks those funds for initiatives developed by the Cryptoeconomics SubDAO (CSD), a governance subgroup tasked with designing tokenholder-facing value accrual strategies. If passed, JIP-24 would represent a significant shift in how Jito's protocol revenue is governed, expanding the DAO's financial role and giving tokenholders a greater stake in the network's long-term in to access your portfolio
Yahoo
26-07-2025
- Business
- Yahoo
Jito wants to solve Solana's bad MEV problem
A version of this article appeared in our The Decentralised newsletter on July 22. Sign up here. Solana developer Jito Labs started the week with a BAM. On Monday, the company detailed its newest product, the Block Assembly Marketplace. Like any under-the-hood update, it's difficult to explain in terms your parents — i.e. normies — would understand. But I'll try after one Solana heavyweight called it the 'biggest change in Solana history.' Blockchains are like distributed databases. Computers around the world work together to maintain the state of the blockchain, verifying transactions and account balances. Jito wants to launch a new set of specialised computers that will take a very different approach to verifying transactions. When blockchain transactions hit the queue, they're visible to certain players who can profit by front-running or back-running those transactions, a practice known as maximum extractable value, or MEV. That extraction can be immensely profitable. Between December 7 and January 5, a single so-called sandwich bot executed 1.55 million transactions for a profit of $13.43 million, according to a Helius report. BAM cloaks the queue, 'enabling developers to build CLOBs, perpetual exchanges, dark pools and other types of financial primitives that require sequencing control, determinism and privacy assurances,' according to Jito. It also lets applications create custom transaction-ordering logic. In short, BAM would end harmful MEV and enable Solana-based competitors to the red-hot Hyperliquid protocol, according to self-described Jito 'contributor' Andrew Thurman. Put even more simply, it enables '1,000x better trading experience for traders, apps, and also institutions — without bad MEV — but without requiring L2s,' according to Solana booster nonpareil Mert Mumtaz, the aforementioned heavyweight. Here's how it will all play out, according to Jito. The company will run its own specialised hardware 'with the goal of securing a high single-digit percentage of network stake shortly after launch.' Eventually, Jito will open-source the code and decentralise BAM governance. Ultimately, the company expects 'more than 50 geographically distributed nodes run by third party operators.' So what does this have to do with Jito's flagship product, the $3 billion Jito protocol? The company will soon propose directing all fees it collects from BAM and the Jito Block Engine to the Jito DAO. 'This shift cements the DAO's role at the center of the Jito ecosystem,' Jito writes. The DAO benefits immediately from existing fee flows, and as Plugin adoption grows, Jito Network is positioned to earn additional revenue from rising Solana activity, improved validator economics, and deeper alignment between ecosystem growth and DAO-owned infrastructure.' Top DeFi stories of the week This week in DeFi governance VOTE: Rocket Pool elects new incentives committee VOTE: Arbitrum DAO considers extending provisional code of conduct through Jnuary 2026 and tweaking DAO operations VOTE: GnosisDAO considers paying Gnosis Ltd. $30 million per year Post of the week Having celebrity neighbors isn't as exciting in the metaverse. Aleks Gilbert is DL News' New York-based DeFi correspondent. You can reach him at aleks@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
22-07-2025
- Business
- Yahoo
Solana Breaks $200 as Jito's BAM Draws Bullish Bets
Solana (SOL) surged past the $200 mark for the first time since March, as network player Jito introduced the Block Assembly Marketplace (BAM), a move that some observers said boosted investor interest in SOL. The token jumped nearly 9% in the past 24 hours, peaking at $203 before slight profit-taking. SOL's rally was backed by strong flows into derivatives, with the SOL CD20 product posting an 8.87% gain and volume nearly tripling to 4.87 million units, per CoinDesk Analytics. The breakout followed the announcement of BAM, a new high-performance block-building architecture developed by Jito Labs and the Jito Foundation. Scheduled to go live in the coming weeks, BAM introduces a dedicated layer for transaction sequencing, promising faster execution, minimized MEV, and programmable control over blockspace. 'Solana surged past an important price level at $200 after the announcement of the Block Assembly Marketplace, which would create a new system for transaction processing,' shared Nick Ruck, director at LVRG Research, in a note to CoinDesk. 'Investors were bullish as the development would greatly enhance the efficiency of Solana transactions with more privacy and flexibility across the network.''Traders believe that Solana has been oversold as developers continue to build on the blockchain despite the downfall of the memecoin market. We're optimistic that Solana can rise higher as an innovative hub with new opportunities for developers and traders,' Ruck added. At a technical level, BAM relies on a network of scheduler nodes using Trusted Execution Environments (TEEs) to privately sequence transactions before they reach validators. This means the use of nodes that privately decide the order of transactions before they hit the main Solana network, helping avoid front-running and ensuring fairness. Additionally, BAM introduces a plugin system that allows developers to create custom rules for sorting transactions, whether that involves prioritizing specific types of trades, bundling orders, or charging for access. In short, blockspace becomes programmable, and anyone building on Solana can now earn money by shaping how that space is used. Meanwhile, strength in SOL stems from an increase in institutional inflows into SOL investment products hit $39 million, with pre-commitments to the proposed REX-Osprey SOL ETF now totaling over $73 million. Data from SoSoValue shows that 2.95 million SOL, worth approximately $531 million, have been accumulated by corporate wallets so far in July. SOL is now up more than 33% in July, outperforming both bitcoin and ether. And technical improvements, such as the rollout of BAM, may continue to boost tailwinds.
Yahoo
18-07-2025
- Business
- Yahoo
Good To See Bipartisan Support For Crypto: Rettig
Jito Labs Chief Legal Officer Rebecca Rettig discusses the stablecoin bill passing. In an interview with Scarlet Fu on "Bloomberg Markets," she says it was good to see bipartisan support and doesn't see a need for a central bank currency. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
