A new report from Kairos Research highlights Jito’s pivotal role in Solana’s remarkable resurgence in 2024, transforming the blockchain’s infrastructure and economic landscape after the FTX collapse.
1/???? From post-FTX wreckage to the top chain, 2024 was Solana’s comeback year and one of the most staggering turnarounds in crypto history.@Kairos_Res & the Jito Foundation break it all down in ⤵️
“Solana’s Surge: Pushing the Limits of Speed, Markets, and Scale”???????? pic.twitter.com/T3icXD3aCO
— Jito (@jito_sol) April 2, 2025
Solana’s comeback, described as one of the most significant turnarounds in crypto history, was powered by a combination of strategic innovations, including those led by Jito. The report reveals that Jito distributed over $1 billion in miner extractable value (MEV) tips to validators and stakers, which helped create sustainable incentives across the network. Additionally, Jito’s validator software now secures approximately 90% of Solana’s total stake, significantly enhancing network stability.
One of the standout contributions from Jito was the emergence of JitoSOL, now the largest and most decentralized liquid staking token on Solana. Powered by Jito’s Stakenet infrastructure, JitoSOL has become a cornerstone in Solana’s growing ecosystem. The report also draws attention to Jito’s innovative TipRouter NCN, which is expected to distribute up to $2.1 billion in MEV tips annually based on 90-day averages. This is seen as a major advancement in the economic models for Node Consensus Networks (NCNs) on Solana.
Solana’s 2024 performance, as noted in the report, wasn’t just a rebound; it was a full-blown renaissance. The blockchain led all Layer 1 chains in key metrics such as decentralized exchange (DEX) volume, network fees, and protocol revenue. Despite initial scepticism, memecoins played a crucial role in driving fees, onboarding new users, and expanding Solana’s infrastructure. For example, Pumpdotfun, a memecoin platform, accounted for 55% of Solana’s total transactions in January, and the stablecoin supply hit an all-time high of $11 billion.
The report also underscores the role of Solana’s developers, who remained focused on network development despite the bear market and media silences. Their efforts have set the stage for one of the most data-rich comebacks in crypto history. Solana’s ability to outperform Ethereum in key metrics highlights what’s possible when performance and product-market fit align.
Looking ahead, Solana’s future remains promising, with projects like Firedancer and DoubleZero on the horizon, signalling the potential for continued growth and innovation within the ecosystem.
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