Jito Network enhances the Solana ecosystem with its JitoSOL liquid staking solution and a range of MEV (Maximum Extractable Value) offerings.

Participants in the Solana network can swap their SOL for JitoSOL. This exchange allows them to preserve the liquidity and decentralized finance (DeFi) advantages of SOL, while also accruing staking yields. A notable aspect of JitoSOL is its provision of extra earnings to its holders, sourced from the transaction fees generated by MEV activities on Solana.

MEV refers to the profit potential linked to the sequencing of transactions. As an example, a significant transaction on Orca might result in a lower price compared to those on Raydium or Serum, prompting traders to capitalize on this price gap, a practice known as MEV-based arbitrage.

To address the challenges posed by MEV, the Jito Foundation was established. Its goals include reducing MEV's detrimental effects, promoting fair profit distribution, and bolstering transparency. Jito has also released an open-source validator client aimed at fostering a competitive MEV extraction market. This client introduces a bidding system within each blockchain block, offering traders a chance to secure the MEV opportunities of that block. The top bidders in each block are then able to extract the MEV available.