Stakers deposit funds into Jito and receive a return on investment in the form of staking rewards (supply-side revenue). Note: fee, revenue and supply-side fees currently only include validator tips.

Jito is a non-custodial liquid staking protocol built on Solana. Jito was founded by Zano Sherwani and Lucas Bruder and launched in 2022.

Jito team and investors own and govern the protocol. They currently don’t take a cut of the total return on investment (revenue).

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Jito

# Jito Average fees per user (AFPU) Methodology

## 1. Overview

Average Fees Per User (AFPU) measures the average daily fee revenue generated per active user on the Jito protocol. This metric answers the question "How much fee revenue does each active user generate on average?" by dividing total daily fee revenue by the number of daily active users. The calculation uses the standard ARPU (Average Revenue Per User) methodology applied to fee revenue data.

## 2. Data sources

- **Solana native SOL transfers**: Direct SOL transfers to Jito's fee collector addresses, captured from Solana blockchain transaction data
- **MEV tip data**: Historical validator and Jito MEV tips collected through external scraping systems
- **JitoSOL token events**: Parsed `Mint` and `Burn` events for the JitoSOL liquid staking token from Solana blockchain
- **Transaction data**: Solana transaction records including signer addresses for user identification
- **End-of-day price feeds**: Daily SOL to USD exchange rates for currency conversion
- **Fee collector addresses**: Hardcoded list of 8 specific Solana addresses where Jito collects fees and tips

## 3. Step-by-step calculation

### Component A: Fee collection and processing

- **Purpose**: Aggregate all fee revenue generated by Jito across MEV tips and direct payments
- **Logic**: Two distinct data collection methods are used based on time periods. For historical data (before 2025), validator tips and Jito tips are sourced from external scraper data and summed together. For current data (2025 onwards), direct SOL transfers to eight hardcoded fee collector addresses are captured from Solana blockchain transfers. All SOL amounts are converted from lamports to SOL units by dividing by 1e9, then aggregated daily and converted to USD using end-of-day price feeds
- **Key fields**: `validator_tips`, `jito_tips` from scraper data, `amount` from direct transfers, `token_address` (SOL contract), `block_timestamp` for daily grouping

### Component B: User activity tracking

- **Purpose**: Identify and count all unique daily active users across Jito's services
- **Logic**: Three distinct user types are tracked and combined. Depositors are identified from JitoSOL token mint events where the transaction signer is depositing SOL. Withdrawers are identified from JitoSOL token burn events where the transaction signer is withdrawing SOL. Tippers are identified from direct SOL transfers to fee collector addresses where the transaction signer is paying MEV tips. All three user types are deduplicated using HyperLogLog aggregation to handle users who may perform multiple activity types on the same day
- **Key fields**: `transaction_signer` as `user_address`, `user_type` (Depositor, Withdrawer, Tipper), `product_id` for categorization, `block_timestamp` for daily grouping

### Component C: User aggregation and deduplication

- **Purpose**: Calculate accurate daily active user counts with proper deduplication across user types
- **Logic**: Daily user data is processed using HyperLogLog sketch algorithms to handle overlapping users across different activity categories. Users are aggregated at multiple dimension levels including overall project level, by chain, by user type, and by product. The HyperLogLog approach ensures that users performing multiple activities (e.g., both depositing and tipping) are counted only once in the total daily active user count
- **Key fields**: `user_dau` as unique user identifier, `dimensions` for aggregation level, `hll` for HyperLogLog sketch data

### Final aggregation

- **Combining components**: Fee revenue data and user count data are joined by date using the `calculate_arpu` macro, which divides total daily fees by total daily active users
- **Currency conversion**: All SOL amounts are converted to USD using end-of-day price feeds, with proper decimal correction applied
- **Time aggregation**: Both fees and users are aggregated to daily boundaries using `timestamp_trunc` to day level
- **Final calculation**: AFPU equals total daily fee revenue in USD divided by total daily active users, with zero-filling applied for days with missing data to ensure complete time series coverage

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

JitoJTO

Average fees per user (AFPU)

Average fees per user (AFPU)

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