Jito Declares War on Coinbase & Binance | Lucas Bruder on the Launch of JTX

**David** (0:02)
Bankless Nation, I'm here with Lucas Bruder. He is from Jito, and he's building something pretty cool. Lucas, welcome back to Bankless, my man. How are you doing?

**Lucas Bruder** (0:09)
Pretty good. Thanks for having me. It's been a while.

**David** (0:12)
It has been a while. It has been a while. We're going to dive into what you're doing over at JTX. I first kind of want to just ask, what's going on in the Solana neck of the woods? What's going on over there? Because I'm not really too tapped in. So what's it like being in Solana right now?

**Lucas Bruder** (0:26)
It's pretty crazy. There's a lot going on. I think there's this weird mismatch between the crypto sentiment and the market. I feel like people are still leaning a little bearish, but I feel like on Solana, it's full steam ahead. And so I would say the top two things going on right now, obviously the Ansem and what he's doing has been very popular recently on Twitter. But the other thing that's really cool that we're excited about is all these tokenized stocks that are coming out.
And what Backpack and X-Stalks and Alando and some of these other guys are doing, it's super cool. So yeah, like getting SpaceX Day 1, some of the memory stocks, and then today the new memory stock IPO is happening, and that should be listed pretty shortly. So I feel like there's a lot of cool stuff going on in that kind of area right now.

**David** (1:17)
Has there been just a market winner or market leader in the tokenized stock camp on Solana yet, or is it still pretty much a pretty fierce competition?

**Lucas Bruder** (1:26)
I think it's, if you look at volume, I believe Backpack is winning. But I would say the number of assets that they have, I think it's like probably around five assets, where if you look at some of the other providers, it's like tens or hundreds.
I think there'll be some changes there pretty soon and expect to see a lot more assets listed. So I would say it's still pretty early on in the tokenized stocks. But I would say that's one thing Solana is really exceeding out right now. There's a few days where tokenized stock volume was higher than meme coins. And it's cool to see that flip. Like we've been talking about it for a while. Like Solana is this meme coin chain. And when you see all these tokenized stocks come on, it's like, okay, the thing that we've been preaching this whole time is finally coming true.

**David** (2:16)
Yeah, yeah, yeah, that is pretty exciting. Let's get into what you're building at JTX. So you're the founder CEO of Jito, which is for people who speak Ethereum, that's if Lido and Flashbots had a baby. So a liquid staking token plus transaction ordering and MEV management all in one product. Now you're going vertical, you're verticalizing into JTX. Let's talk about JTX. What's JTX and why are you building it?

**Lucas Bruder** (2:44)
JTX is a prosumer trading terminal.
And so we feel like there's a piece of the market that's missing where Solana execution has gotten really good. But a lot of the tools that exist today are kind of more on the meme coin side of things. And so we're really targeting this prosumer audience. We think there's going to be a ton of assets that come on to Solana, not only like other L1 assets, but tokenized equities. And we feel like there's kind of a lack of good user experience for those types of traders on Solana today.
And so, yeah, we really want to build something that gets more people on chain. There's only so much that you can do at the infrastructure layer to make that happen. And so we spent several months ideating and decided this is the best way that we can get people on chain. And so, yeah, we've been building this since like the end of March and be rolling out pretty shortly.

**David** (3:39)
So Jito is known to be just extremely technically competent at the block level of Solana, like down in the basement where like the microstructure of Solana really matters. And you have to be just super intimately familiar with just the pipes of Solana, just like the actual architecture and foundation.
You guys are verticalizing into a consumer application, which makes sense because you guys have the knowledge and the integration about transaction ordering, but it is a new domain for you guys. Now you are in the world of user products and user experience. What makes you think that you can go up there and get out of the basement and into the front door of and become the front door of Solana?