Solana Foundation claims that a customer of Jito Labs controls approximately a third of the company’s shareholding
The Solana Foundation has announced that “over 31% of stake [is] operating through the Jito Labs client.”
According to the Solana Foundation, “31% of stake [is] running via the Jito Labs client,” indicating that the network is currently being used by a variety of clients.
Solana issued its most recent validator health report to boast about its successes as a “multi-client network,” highlighting the growing number of validator clients who have used Jito Labs and the network’s “100% uptime” since February. When compared to the previous year, when the network had frequent outages, this is a significant improvement.
According to the announcement, “there are currently four different validator client implementations for the Solana network, built on three separate codebases.” Over 31% of all Solana validators are now using the Jito Labs client, up from 16% in March 2023 and from 0% in August 2022, when the client was initially released on the mainnet.
Jito Labs completed a successful Series A investment round last year, bringing it $10 million. The organization constructs Solana MEV facilities. Series A was led by Solana Ventures, co-founded Solana Labs by Anatoly Yakovenko, and headed communications for the Solana Foundation by Austin Federa.