Data: Jito Labs achieved a monthly fee revenue of $78.92 million in October, surpassing Lido and Uniswap

2024-11-08 09:55:55

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ChainCatcher news, according to The Block, Jito Labs achieved a monthly fee revenue of $78.92 million in October, doubling the previous record of $39.45 million set in May. This growth has positioned Jito Labs ahead of Lido and Uniswap, making it the leading fee generator in the DeFi space.

Jito Labs' earnings on October 24 were particularly remarkable, with a single-day tip revenue reaching $6.14 million, highlighting the growing demand for MEV (Maximum Extractable Value) services on the Solana chain. Jito Labs' success is attributed to its MEV infrastructure, including the Jito-Solana validator client and block engine, which effectively extract value from on-chain trading activities. Additionally, the JitoSOL staking token further diversifies revenue sources by combining staking rewards with MEV extraction profits.

The rise of Jito Labs signifies a potential shift in the fee model of the DeFi space towards MEV optimization, but its sustainability may depend on high trading volumes on Solana, especially those driven by memecoin transactions.

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