JitoSOL: liquid staking with M…www.jito.network/docs/jitosol/overviewjitosol-liquid-staking/liquid-staking-basics/) is a non-custodial liquid…https://www.jito.network/docs/stakenet/overviewjitosol/jitosol-liquid-staking/stake-pool-operations/automated-management/) – a blend of on-chain prog…rs that bid the highest yield.

References - Jito Foundation…https://www.jito.network/docs/stakenet/overviewjitosol/jitosol-liquid-staking/stake-pool-operations/automated-management/) - Jito – (Re)staking ove…lanacompass.com/projects/jito)

How Caper approaches this Jit…ake pool and its MEV pipeline accrugoes to whoever holds the most $JTO, a freely tradeable asset. That is a deliberate,token. It is a working design for a live revenue business – something a small, which a caper (/wiki/foundations/what-is-a-caper) does not operaterun and does not try to imitate. CA caper differs in who the decisiveding vote belongs to. A capmember's governance weight combines governancweight comes from the tokens theld with an earned, non-transferable soulbound proof-of-vote token (/wiki/dao-governance/concepts/membership/soulbound-tokens) . The soulbound token is minted by casting ballots and by nothing else – a buy or a sell minty hold together with the soulbound (/wiki/dao-governance/concepts/membership/soulbound-tokens) votes they earn by casting ballots; buying or selling tokens earns none –, and canearned votes never be moved between wallets once earned (DIVISIBILITY_MAXIMUM, depositor locked to the component; contracts/core/src/caper_dao.rs). Holdings still count, but a bag cannot absorb the record other members already hold the way accumulating JTO. Holdings still count, but a big bag alone can't capture control, because accumulating tokens does not absorbs their votes:othe vote token is minted only to the account that casts the ballot, and can never be sold onr members have earned the way accumulating $JTO absorbs theirs. The same weight sizets a member's exit redemptionfair share of the treasury when they exit (/wiki/dao-governance/concept…ip/rage-quit-and-exit-rights) , and the vote token is burned on the way out (exit(), same file). And where Jito's treasury mo…-chain-drafted JIP, a caper's treasury (/wiki/markets/bonding-curve) moves only through typed on-chain PAYOUT / INVEST / DIVEST / METADATA proposals (/wiki/governance/proposals) that no signer enacts: the winning option is triggered permissionlessly, sits out the market window in which the caper's own market may veto it on price, and is then executed by anyone at all (trigger_proposal, resolve_proposal and the execute entry points in contracts/logic/src/lib.rs). The vote is not itself the transfer – it is the only thing that can authorise oneonce one passes, the caper's own market can still veto it if the price falls while it waits, and after that anyone can carry it out.

How Caper approaches this Jit…. A caper's governance weight is (t·v)/(V·T) –combines governance tokens held (t) timeswith an earned, non-transferable …/membership/soulbound-tokens) (v), over total supply of each (verified in contracts/common/src/lib.rs, compute_vote_weight). The soulbound token is minted one perby casting ballot casts and by nothing else – a buy o…_dao.rs). Holdings still count – t is a multiplier –, but a bag cannot absorb the r…ting JTO absorbs their votes: vthe vote token is minted only to the account… thing that can authorise one.

How Caper approaches this Jit…lot, and can never be sold on.The same weight sizes a member… thing that can authorise one.

How Caper approaches this Jit…inted one per ballot cast and 0.01 per XRD of gross trade value on each legby nothing else – a buy ofr a tradesell mints none – and can never be moved betwee…orbs their votes: v is minted only to the account that trades or votes, at 0.01 per XRD of gross valuecasts the ballot, and can never be sold on. Th… thing that can authorise one.

How Caper approaches this Jit…ed permissionlessly, sits out a 48-hourthe market window in which the caper's o… thing that can authorise one.

How Caper approaches this Jit…/ DIVEST / METADATA proposals in which the passing vote is the transferthat no signer enacts: the winning option is triggered permissionlessly, sits out a 48-hour window in which the caper's own market may veto it on price, and is then executed by anyone at all (trigger_proposal, resolve_proposal and the execute entry points in contracts/logic/src/lib.rs). The vote is not itself the transfer – it is the only thing that can authorise one.

How Caper approaches this Jit…t – t is a multiplier – but a large bag alone cannot capture contrbag cannot absorb the record other members already hold the way accumulating JTO can, because the earned factor v is not for saleabsorbs their votes: v is minted to the account that trades or votes, at 0.01 per XRD of gross value, and can never be sold on. The same weight sizes a memb… passing vote is the transfer.

How Caper approaches this Jit…in PAYOUT / INVEST / DIVEST / VOTEMETADATA proposals in which the passing vote is the transfer.

How Caper approaches this Jit… soulbound token is minted one-per-vote and cannot be bought or mov per ballot cast and 0.01 per XRD of gross trade value on each leg of a trade and can never be moved between wallets once earned (DIVISIBILITY_NONEMAXIMUM, depositor locked to the comp… passing vote is the transfer.

How Caper approaches this Jit…f each (verified in contracts/logiccommon/src/lib.rs, compute_vote_weig… passing vote is the transfer.

Jito is the DAO that governs t…flow. Where Lido (/wiki/daos/organizations/staking/lido-dao) and Rocket Pool (/wiki/daos/organizations/staking/rocket-pool) govern l…g and EigenLayer (/wiki/daos/organizations/staking/eigenlayer) governs r…rather than a single protocol.

JitoSOL: liquid staking with M…l liquid-staking (/wiki/daos/organizations/staking/lido-dao) token: depo…LST DAO Marinade (/wiki/daos/organizations/staking/marinade) , which inst…rs that bid the highest yield.

How Caper approaches this Jit…ped on-chain PAYOUT / INVEST / DIVEST / VOTE proposals in which the passing vote is the transfer.

JitoSOL: liquid staking with M…gest Solana stake pool points. The scoring-formula approach contrasts with fellow Solana LST DAO Marinade (/wiki/daos/organizations/staking/marinade) , which instead auctions its stake to the validators that bid the highest yield.

Project Jito (Jito Foundation / Jito Labs) Tokens JTO (governance) · JitoSOL (liquid staking) Category Liquid staking + MEV infrastructure DAO Chain Solana Governance Token-weighted (1 JTO = 1 vote) via Solana SPL Governance (Realms) (https://docs.realms.today/) ; DAO multisig execution JTO supply 1,000,000,000 fixed; airdropped 7 Dec 2023 Founded 2022 Website jito.network (https://www.jito.network/)

Jito is the DAO that governs the dominant slice of Solana's value-capture stack (/wiki/dao-governance/concepts/treasury/dao-treasury-management) : the network's largest liquid-staking token (JitoSOL), the MEV-enabled validator client that most of Solana's stake runs, and the block-building marketplace that sequences much of its transaction flow. Where Lido (/wiki/daos/organizations/staking/lido-dao) and Rocket Pool (/wiki/daos/organizations/staking/rocket-pool) govern liquid staking and EigenLayer (/wiki/daos/organizations/staking/eigenlayer) governs restaking, Jito is the rare DAO whose treasury sits astride an entire chain's MEV supply chain – client, block engine, tips, and restaking – making it a distinctive study in governing revenue-generating infrastructure rather than a single protocol.

JitoSOL: liquid staking with MEV JitoSOL (https://www.jito.network/docs/jitosol/overview/) is a non-custodial liquid-staking (/wiki/daos/organizations/staking/lido-dao) token: deposit SOL, receive JitoSOL, and keep a liquid, DeFi-composable claim that accrues both ordinary staking yield and a share of the MEV rewards Jito's validators earn. It is Solana's largest liquid-staking token, with on the order of 14.5 million SOL (~$2.9B) staked through the pool as of 2025-2026 ( Solana Compass (https://solanacompass.com/projects/jito) ). Delegation is not hand-managed. Jito runs StakeNet (https://www.jito.network/docs/stakenet/overview/) – a blend of on-chain programs and off-chain "keepers", anchored by the Steward Program – to score validators and rebalance JitoSOL's stake across them automatically, on-chain and auditably. Crucially, every StakeNet parameter (delegation criteria, safety thresholds, caps) is set by Jito DAO governance (https://www.jito.network/docs/governance/the-jito-governance-token-jto/) , so the community, not a private operator, controls where the largest Solana stake pool points.

The Jito-Solana client, Block Engine & tips The other half of Jito is MEV infrastructure. The Jito-Solana validator client (https://www.jito.wtf/validators/) is an MEV-enabled fork of Solana's Agave client; by 2025 it was run by roughly 90%+ of Solana's staked SOL (~95% of validators), making it the network's de-facto standard ( GetBlock (https://getblock.io/blog/what-is-jito-solana-mev-client/) ). Around it sits an off-chain Block Engine: searchers submit bundles – atomic, explicitly-ordered groups of transactions – and bid tips for inclusion, and the winning bundles are forwarded to the leader. Tips flow back to stakers and validators through the on-chain Tip Distribution Program (https://jito-foundation.gitbook.io/mev/mev-payment-and-distribution/tip-distribution-program) . The scale is large: heading into 2025, Jito tips had paid out roughly $674 million to stakers and validators and accounted for close to half of Solana's real economic value ( Crypto Briefing (https://cryptobriefing.com/jito-351m-market-cap-78m-mev-fees-solana/) ). In July 2025 Jito announced the Block Assembly Marketplace (BAM) (https://www.helius.dev/blog/block-assembly-marketplace-bam) , a verifiable, privacy-preserving, programmable block-building architecture that runs block construction inside Trusted Execution Environments – borrowing the design of Ethereum's Flashbots BuilderNet (https://blockworks.com/news/jito-upgrade-block-assembly-marketplace) .

What the Jito DAO governs JTO is a fixed-supply governance token (1 billion, airdropped 7 December 2023 (https://www.jito.network/docs/governance/the-jito-governance-token-jto/) ). Holders draft Jito Improvement Proposals (JIPs) (https://forum.jito.network/) on the governance forum and vote token-weighted through Solana's SPL Governance (Realms), with a DAO multisig enacting passed proposals. Per the governance docs, JTO controls three concrete levers: - StakeNet parameters – the delegation strategy behind JitoSOL's multi-billion-dollar stake distribution. - TipRouter NCN parameters – the node-consensus network that computes and distributes MEV tips. - The DAO treasury – the JTO held by the DAO plus the fees generated by JitoSOL and restaking. Because a JitoSOL depositor need not hold JTO – and a JTO holder need not stake – Jito is a clean example of the token-weighted-voting (/wiki/dao-governance/concepts/voting/token-weighted-voting) model applied to critical shared infrastructure: influence over Solana's staking and MEV plumbing is priced, transferable, and accrues to whoever accumulates the most JTO.

TipRouter and Jito (Re)staking TipRouter (https://www.jito.network/blog/what-is-jito-tiprouter/) (live since February 2025) is itself built on Jito's newer product line: Jito (Re)staking (https://www.jito.network/docs/restaking/jito-restaking-overview/) . Restaking lets staked SPL assets be re-pledged to secure additional Node Consensus Networks (NCNs), with vault positions represented by transferable Vault Receipt Tokens (VRTs); the programs are audited by Certora, Offside and OtterSec and secure hundreds of millions in assets. TipRouter is the first flagship NCN – it decentralises the computation and distribution of Jito tips, replacing a trusted off-chain process. It charges a 6% fee on tips, split between Jito Labs and the DAO; in Q2 2025 that fee alone earned the DAO 22,391 SOL (~$4M) (https://kairoscrypto.substack.com/p/tiprouter-jitos-2025-growth-engine) .

Routing fees to the DAO Through 2025 Jito's governance steadily redirected protocol revenue to the treasury and to token holders. JIP-24 (https://www.coindesk.com/tech/2025/08/05/solana-s-jito-proposes-routing-100-of-block-engine-fees-to-dao-treasury) proposed routing 100% of Block Engine fees (and future BAM fees) to the Jito DAO treasury. Separately, JIP-38 (https://solanacompass.com/news/jtx-goes-live-on-solana-as-jitos-self-custody-trading-platform-opens-to-first-1000-users) (passed 13 July 2025) directs 80% of fees from JTX – Jito's self-custody spot-trading platform – to the DAO, and commits 100% of the DAO's share to open-market JTO buybacks through Q4 2027, with the repurchased JTO burned. The result is a DAO increasingly funded by, and returning value from, the infrastructure it governs.

How Caper approaches this Jito shows token-weighted governance at its most consequential: control over Solana's largest stake pool and its MEV pipeline accrues to whoever holds the most JTO, a freely tradeable asset. That is a deliberate, working design for a live revenue business – something a small caper (/wiki/foundations/what-is-a-caper) does not operate and does not try to imitate. Caper differs in who the decisive vote belongs to. A caper's governance weight is (t·v)/(V·T) – governance tokens held (t) times an earned, non-transferable soulbound proof-of-vote token (/wiki/dao-governance/concepts/membership/soulbound-tokens) (v), over total supply of each (verified in contracts/logic/src/lib.rs, compute_vote_weight). The soulbound token is minted one-per-vote and cannot be bought or moved (DIVISIBILITY_NONE, depositor locked to the component; contracts/core/src/caper_dao.rs). Holdings still count – t is a multiplier – but a large bag alone cannot capture control the way accumulating JTO can, because the earned factor v is not for sale. The same weight sizes a member's exit redemption (/wiki/dao-governance/concepts/membership/rage-quit-and-exit-rights) , and the vote token is burned on the way out (exit(), same file). And where Jito's treasury moves when a multisig enacts an off-chain-drafted JIP, a caper's treasury (/wiki/markets/bonding-curve) moves only through typed on-chain PAYOUT / INVEST / VOTE proposals in which the passing vote is the transfer.

References - Jito Foundation – Documentation Hub (https://www.jito.network/docs/hub/overview/) - Jito – The JTO Governance Token (https://www.jito.network/docs/governance/the-jito-governance-token-jto/) - Jito – StakeNet & the Steward Program (https://www.jito.network/docs/stakenet/overview/) - Jito – (Re)staking overview (https://www.jito.network/docs/restaking/jito-restaking-overview/) - Jito MEV – Tip Distribution Program (https://jito-foundation.gitbook.io/mev/mev-payment-and-distribution/tip-distribution-program) - JIP-24 – Jito DAO receives Block Engine & BAM fees (https://forum.jito.network/t/jip-24-jito-dao-receives-all-jito-block-engine-fees-and-future-bam-fees/860) - CoinDesk – Jito proposes routing 100% of Block Engine fees to the DAO (5 Aug 2025) (https://www.coindesk.com/tech/2025/08/05/solana-s-jito-proposes-routing-100-of-block-engine-fees-to-dao-treasury) - Helius – Block Assembly Marketplace (BAM) (https://www.helius.dev/blog/block-assembly-marketplace-bam) - Solana Compass – Jito metrics (https://solanacompass.com/projects/jito)