In this episode of Level Up, David and Sean sits down with Lucas Bruder, Co-Founder and CEO of JITO Labs, and Tushar Jain, managing partner at Multicoin Capital. They dive deep into JITO’s innovative approach to MEV infrastructure, liquid staking, and restaking, explaining how these components work together to boost transaction efficiency and unlock value for validators and stakers. The conversation also covers token economics, governance, and the broader impact of JITO’s technology on network performance and the future of digital assets on Solana. Tune in to explore the engine behind Solana’s robust infrastructure and learn how these advancements are setting the stage for the next wave of blockchain innovation.

Key Points From This Episode:

[00:01:22] Introduction to Jito and its position in Solana’s ecosystem

[00:02:49] Token metrics, comps, and performance relative to other protocols

[00:04:19] Importance of Jito’s infrastructure and its January outage

[00:06:16] Economic value and validator rewards driven by Jito tips

[00:06:59] Market share in liquid staking and Solana’s LST growth potential

[00:07:50] Early momentum and growth in Jito’s re-staking product

[00:08:46] Jito’s competitive position in fees and revenue generation

[00:10:04] DAO revenue and value return proposals for JTO holders

[00:12:27] Lucas’s background and motivation for founding Jito

[00:14:12] Tushar on Multicoin’s early thesis for Jito and Solana

[00:16:04] Defining MEV and its role in validator economics

[00:20:56] How Jito Block Engine transformed Solana’s transaction pipeline

[00:23:20] Key metrics and performance of MEV infrastructure

[00:28:27] Why Solana’s liquid staking share lags behind Ethereum

[00:30:19] Institutional adoption barriers: custody and tax clarity

[00:34:09] StakeNet: the decentralized brain behind JitoSOL

[00:37:29] Network effects and competitive advantages in liquid staking

[00:39:16] Introduction to Jito re-staking and its role in Solana middleware

[00:41:47] Investor perspective: modularity vs. value generation in re-staking

[00:43:05] Revenue and KPIs driving retaking adoption

[00:45:27] How Jito’s verticals feed each other and reinforce Solana

[00:48:02] Tushar’s valuation framework for Jito as a function of Solana

[00:52:00] DAO-controlled fee flows and capital allocation proposals

[00:55:12] Buyback models, DAO treasury use, and capital efficiency

[00:59:28] Governance structure: Labs vs. Foundation vs. DAO

[01:01:53] Future protocol governance for block production and fee routing

[01:02:34] Token supply, unlocks, and emissions explained

[01:06:50] Major risks to Jito: validator competition and off-chain matching

[01:10:50] Clarifying Fire Dancer’s impact and its synergy with Jito

[01:12:02] Investor perspectives on token unlocks and supply pressure

Links:

The Medici Network 

X.com 

LinkedIn 

Co-Hosts 

David Grider, Finality Capital 

Sean Farrell, Fundstrat Global Advisors

Guests   

Lucas Bruder, Jito Labs

Tushar Jain, Multicoin Capital 

Production and editing by The Podcast Consultant  

Disclaimer

This podcast is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. The views expressed by the hosts and guests are their own and do not necessarily reflect those of The Medici Network, Fundstrat Global Advisors LLC, Finality CP Management, LLC, or any of their affiliates. Listeners should consult their own professional advisors before making any financial or investment decisions. 

Some protocol guests featured on this podcast may be annual paid members of The Medici Network. This membership does not imply endorsement by The Medici Network. This podcast does not constitute an offer to sell or a solicitation to buy any securities or tokens.