jakiro
author:Kairos Research Source: X,@Kairos_Res Translation: Shan Oppa, Bitchain Vision
Jito Restaking combines the best parts of EigenLayer and Symbiotic, with some of their own novel improvements
While there have been long rumors that Jito is developing a restake platform, it is clear that they have put in a lot of thoughtful, intentional efforts into their design.The vault plan is very similar to Symbiotic and will allow customization of delegation policies across multiple carriers, thus diversifying operator risks while also allowing increased contact to different AVSs.However, a big difference here is that Jito will have an LRT module that allows others to create and operate LRT through the Jito protocol itself, rather than outsourcing LRT creation and leaking value to the exogenous protocol.
This is an important difference in Jito’s implementation, allowing for further vertical value capture and creating another potential revenue stream for the protocol through a smaller, reasonable adoption rate (pending).Another interesting difference Jito mentioned is that it allows the creation of liquidity staking AVS tokens that can then be used efficiently in DeFi.There are still many questions to be answered about how to pay restake reward tokens to restaken end users, whether through native restake or LRT, but as far as we know, this is the first example, or someone has asked for permissionThe idea of minting mobile receipt tokens for AVS.
Allowing these AVS tokens to be minted as liquid receipt tokens can help enhance AVS security and effectively utilize these tokens in DeFi.This may allow for some novel restaking strategies involving liquid receipt AVS tokens, allowing rewards to be compounded, and may help delegate managers find the best strategy to pay rewards to end users.
Overall, it is not clear whether many AVS will generate substantial revenue in the short term, but in the medium and long term, it is likely that many AVS will appear to meet the different needs of developers, users, and protocols, etc.The total revenue paid to reparticipants by these AVSs may still provide higher returns than native stake rewards, even if they are not orders of magnitude larger than native stake rate rewards, which we expect will drive the development of tokens such as $rJitoSOL throughSolana DeFi is widely adopted and may even one day disrupt the normative JitoSol, just as we expect LRT to disrupt LST in terms of production utilization of Ethereum.
Finally, with StakeNet growing, it is possible to see the emergence of the first autonomous LRT authorization policy manager without permission.This may assess the real-time risks of individual AVS, operators, etc. and adjust the LRT authorization strategy accordingly.As a result, Jito continues to position itself as the dominant protocol on Solana, involving key value points for MEV, pledge/liquid staking and now restaking.We look forward to continuing to monitor AVS’ specific situation in Jito’s restaking ecosystem and track restaking deposits, withdrawals and liquidity data.
