Jito, the largest liquid storage project on Solana, is doing well with the total value locked (TVL) of its platform and fees reaching a record high.

According to data about it Websiteghetto (JTO) It has a TVL of 14.6 million soles, equivalent to $2.7 billion. This size makes it the 14th largest player in the DeFi industry and the third largest liquid proprietary protocol after Lido and Binance Staked ETH.

Jito beats Solana, Ethereum, and Uniswap this year

Jito has nearly 150,000 users and has also flipped Solana (Sol), Ethereum (Ethereum), and Uniswap in fees made this year.

according to TokenTerminalJito took in $63 million in fees this year, compared to $55.1 million for Ethereum. Solana and Uniswap (UNI) earned $51 million and $42.1 million, respectively.

Jito's performance makes it the third highest-grossing cryptocurrency project in terms of fees this year after Tether and Tron, which generated $137 million and $100 million. He has also become the most profitable player in Decentralized finance industry. Its fees are also higher than Lido Finance, which is the largest Staking the questioner The platform made $31 million this year.

It also generated $729 million in fees in the last 12 months and $559 million in the last 180 days.

Jito's daily fees have rebounded after falling to $2.25 million in December from an all-time high of $14.1 million in November.

Jito offers two main solutions

Jito offers customers liquid storage and restocking. In the process of liquid staking, users transfer their tokens to the network and convert them into JitoSOL, a liquid deposit token or LST.

Unlike the traditional staking approach, LST is a liquid token, making it possible for its holders to trade and use it in DeFi protocols. According to Gitto, the current yield for staking LSTs is 9.81%, which is higher than the Solana average. Staking yield By 7.4%.

Jito also introduced Repossession, a service that tokenizes pledged assets as Vault Receipt Tokens, also known as VRT. The repossession process helps owners of mortgaged assets generate more returns over time. The total value of the reconstituted Jito tokens is $42.6 million.

However, the Jito token did not perform well after its launch in 2023. It traded at $2.64 on January 12, down 40% from its December high and 50% from its all-time high of $5.3.

This performance is due to regular dilution in the network as 11.31 million JTO tokens will be issued every month until December 2026. There are 281 million JTO tokens in circulation against a supply cap of 281 million.