Jito Labs launches self-custody trading tool as activity heats up on Solana
JTX is the company’s first product built specifically for traders. It allows users to trade tokens on Solana while maintaining self-custody.
What to know:
- Jito Labs has launched JTX, a self-custodial trading platform on Solana that aims to offer centralized exchange-style speed and advanced trading tools while letting users keep control of their funds.
- The move targets more sophisticated traders still using centralized platforms, with plans to expand beyond spot trading into products like perpetual futures and prediction markets.
JTX is designed to feel more like those centralized platforms, the team shared in a press release with CoinDesk. It is supposed to offer faster trade execution and a range of tools typically used by professional traders, including stop-loss orders, preset trade strategies and detailed market charts powered by TradingView.
The launch comes as trading activity on Solana has surged, Jito Labs claimed, with decentralized exchanges on the network processing over $1 trillion in volume last year. Much of the more sophisticated trading still happens on centralized platforms or other blockchains.
Jito is betting that demand for more advanced, onchain trading will keep growing, with JTX expecting to come out with products like perpetual futures and prediction markets. In addition, a large portion of the revenue generated by JTX will go back to the protocol, benefiting holders of its JTO token.
