PANews reported on November 8 that according to The Block, Jito Labs achieved a monthly fee income of $78.92 million in October, doubling the previous record of $39.45 million in May. This growth has enabled Jito Labs to surpass Lido and Uniswap to become the leading fee generator in the DeFi field.
Jito Labs' earnings were particularly significant on October 24, with a single-day tip income of $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 validation client and block engine, which effectively extract value from on-chain transaction activities. In addition, JitoSOL staking tokens further broaden the source of income, combining staking rewards with MEV extraction income.
The rise of Jito Labs signals a possible shift in fee models in the DeFi space toward MEV optimization, but its sustainability may rely on high transaction volumes on Solana, especially those driven by memecoin.
