{"id":"lucas-bruder","version":1,"language":"en","title":"Lucas Bruder","hidden":false,"content":"**Lucas Bruder** is the CEO and co-founder of the [Jito Network](https://iq.wiki/wiki/jito), a liquid restaking platform on the [Solana](https://iq.wiki/wiki/solana) [blockchain](https://iq.wiki/wiki/blockchain). [\\[1\\]](#cite-id-ci8hgqaa54)[\\[2\\]](#cite-id-ys95w6fsgk) $$widget0 [YOUTUBE@VID](JuRm0KDr2ew)$$  \n  \n# Education  \n  \nBruder graduated from Carnegie Mellon University with a Bachelor’s in Electrical and Computer Engineering in 2016. He was also a model and firmware intern at Tesla Motors. [\\[1\\]](#cite-id-ci8hgqaa54)[\\[3\\]](#cite-id-ldxs3wt1kwn)  \n  \n# Career  \n  \nAfter graduation, Bruder worked as a firmware engineer for Mindtribe Product Engineering, a connected hardware development company, until March 2018. He then became a robotics engineer and technical lead for Built Robotics, an autonomous construction equipment development company, where he worked until September 2020. In December 2020, he worked as a firmware engineer for Ouster, a lidar hardware and solutions company for various industries, where he worked until October 2021. He worked part-time on maximal extractable value (MEV) for an undisclosed company during this time. In October 2021, he became CEO of [Jito](https://iq.wiki/wiki/jito). [\\[1\\]](#cite-id-ci8hgqaa54)[\\[3\\]](#cite-id-ldxs3wt1kwn) $$widget0 [YOUTUBE@VID](DjpB38KMq7Q)$$  \n  \n## Jito  \n  \nOn the Bell Curve podcast, Bruder discussed the [Jito Network](https://iq.wiki/wiki/jito), its history, and its goal of bringing [staking](https://iq.wiki/wiki/staking) to [Solana](https://iq.wiki/wiki/solana). He started with why he created [Jito](https://iq.wiki/wiki/jito): [\\[4\\]](#cite-id-t07awbopog)  \n  \n> “A quick history on [Jito](https://iq.wiki/wiki/jito) and how we got here: we started working on MEV initially and realized quickly that we could create a flywheel with [JitoSOL](https://iq.wiki/wiki/jito-staked-sol-jitosol) in the MEV stack. Then, we got into [liquid staking](https://iq.wiki/wiki/liquid-staking), and by mid-2023, we started ideating on StakeNet, our way of decentralizing [stake](https://iq.wiki/wiki/staking) pools on [Solana](https://iq.wiki/wiki/solana) and [liquid staking](https://iq.wiki/wiki/liquid-staking) tokens. For those who don't know, [Solana](https://iq.wiki/wiki/solana) uses [delegated proof of stake](https://iq.wiki/wiki/delegated-proof-of-stake-dpos). When you run a [stake](https://iq.wiki/wiki/staking) pool, you have a bunch of stakes and need to decide where it goes, and which [validators](https://iq.wiki/wiki/validator) to use. There are a bunch of different ways to do that, but the main point is that someone or something has to do it. For many [stake](https://iq.wiki/wiki/staking) pools in [Solana](https://iq.wiki/wiki/solana), a hot [wallet](https://iq.wiki/wiki/cryptocurrency-wallet) basically does it. We realized that if we wanted [liquid staking](https://iq.wiki/wiki/liquid-staking) to grow and be massive on [Solana](https://iq.wiki/wiki/solana), that hot [wallet](https://iq.wiki/wiki/cryptocurrency-wallet) would be a point of concern for potential security issues related to hacks and such. So, we started developing StakeNet. By late 2023, we saw what was going on with [EigenLayer](https://iq.wiki/wiki/eigenlayer), and also, as we started ideating more StakeNet, a few pieces needed to be decentralized, like [oracles](https://iq.wiki/wiki/oracle). We saw the uptick in [EigenLayer](https://iq.wiki/wiki/eigenlayer) and how many [liquid staking](https://iq.wiki/wiki/liquid-staking) tokens were getting involved, acting like a vacuum for [liquid staking](https://iq.wiki/wiki/liquid-staking) tokens. This inspired us to decentralize things further on StakeNet.”  \n  \nHe then discussed the design choices for Jito’s restaking: [\\[4\\]](#cite-id-t07awbopog)  \n  \n> “We think that restaking will look different on [Solana](https://iq.wiki/wiki/solana) compared to [Ethereum](https://iq.wiki/wiki/ethereum). There may be aspects where you're using [staked](https://iq.wiki/wiki/staking) assets like LSTs or StakSPL to secure things, but we believe a large component will involve governance tokens or [utility tokens](https://iq.wiki/wiki/utility-token). [Solana](https://iq.wiki/wiki/solana) has a lot of activity and it's very cheap to send transactions, so there's a lot of bots and automation involved with many protocols. We called it restaking, but the goal is to make it flexible for protocols: they can use LSTs or their own [governance tokens](https://iq.wiki/wiki/governance-tokens). The first system we thought about was isolated, meaning every AVS was isolated from each other, to manage how much security is actually needed and to mitigate the risks of slashing events.”  \n  \n> “The more I talked to people, the more it seemed that if this isn't pooled, someone might build a pooled wrapper on it, or there might be certain use cases where it fragments the [liquidity](https://iq.wiki/wiki/pol-protocol-owned-liquidity) and security. If there is a scenario where there's a bunch of [L2s](https://iq.wiki/wiki/layer-2) with significant [TVL](https://iq.wiki/wiki/tvl) on [Solana](https://iq.wiki/wiki/solana), then an isolated model would look strange, or you'd need AVSs merging together to meet their security requirements…Then we realized that maybe pooled isn't that bad if the right restrictions and controls are in place, and the risk is easy to audit. We also saw the adoption of LRTs, and [JitoSOL](https://iq.wiki/wiki/jito-staked-sol-jitosol) is a [liquid staking](https://iq.wiki/wiki/liquid-staking) token that represents [Solana](https://iq.wiki/wiki/solana) [stake](https://iq.wiki/wiki/staking) accounts that are not liquid. I was initially worried that if we released that, it might not get the full adoption it deserves and might not meet the high bar we want for the protocol and products. So, we went back to the drawing board and built the LRTs into the protocol, making the only way to [stake](https://iq.wiki/wiki/staking) through an LRT. We also added bidirectional agreements between all parties involved to control and audit the risk, with caps on slashing and other safeguards. This way, people have the [liquidity](https://iq.wiki/wiki/pol-protocol-owned-liquidity) of the LRTs, and the actual assets used for the LRTs can be decided by the LRT creator. AVSs can support certain assets or be selective on the LRTs they accept.”  \n  \nWhen asked about restaking on [Solana](https://iq.wiki/wiki/solana) versus [Ethereum](https://iq.wiki/wiki/ethereum), Bruder responded: [\\[4\\]](#cite-id-t07awbopog)  \n  \n> “[Solana](https://iq.wiki/wiki/solana) is very fast and very cheap with low latency. While storage on [Solana](https://iq.wiki/wiki/solana) is relatively cheap, it's not suitable for large files like movies, but you can store kilobytes or megabytes of data. There are many system calls built into [Solana](https://iq.wiki/wiki/solana), including some related to [ZK (Zero-Knowledge)](https://iq.wiki/wiki/zero-knowledge-proofs-zkps) technology, even though I'm not an expert in that area. Unlike [Ethereum](https://iq.wiki/wiki/ethereum), where restaking primarily involves off-chain activities, I believe [Solana](https://iq.wiki/wiki/solana) will see more on-chain activity and networks running on top of it. For example, oracles could operate on [Solana](https://iq.wiki/wiki/solana) where people [stake](https://iq.wiki/wiki/staking) to [oracles](https://iq.wiki/wiki/oracle), and their prices could be a [stake](https://iq.wiki/wiki/staking)-weighted average of the prices they upload. If they fail to upload data within a certain time frame, they could be slashed. This is an example of an AVS running on-chain. Additionally, some of the StakeNet stuff we're working on, like StakeNet, is fully on [Solana](https://iq.wiki/wiki/solana).”  \n  \nHe then answered the question, “Do you see restaking being a driver on the [Solana](https://iq.wiki/wiki/solana) roadmap?”: [\\[4\\]](#cite-id-t07awbopog)  \n  \n> “I think the most obvious use case in the world I'm in is MEV. You have to be very careful about the design, but it lets you move faster and try things the protocol can't do. [Solana](https://iq.wiki/wiki/solana) is a very fast-moving protocol, so this might be less valid, but you can experiment with modifications to see if they work without baking them into the protocol. However, you have to consider any second-order effects and the irreversible nature of some changes. There’s a lot of path dependency in PBS, and once certain doors are opened, they can't be closed. There's opportunity for innovation, but builders need to consider the potential impacts to avoid negative outcomes.”  \n  \n$$widget0 [YOUTUBE@VID](CP43ytBgJI8)$$  \n  \n# Interviews  \n  \n## Halborn AMA  \n  \nIn November 2022, Halborn’s Arabdha Sudhir interviewed Bruder about [Jito Labs](https://iq.wiki/wiki/jito) and his journey into [crypto](https://iq.wiki/wiki/cryptocurrency) and [blockchain](https://iq.wiki/wiki/blockchain): [\\[5\\]](#cite-id-cwkgk4ugao4)  \n  \n> “Yeah, so I studied computer engineering in college. Always had this passion for computers and working on hard problems. I worked at Tesla for a bit on the Model X, specifically on the Falcon Wing doors, on the team that programs anything that moves or lights up on the car. Then I got into robotics, working on self-driving bulldozers and excavators. During that time, I was really interested in [crypto](https://iq.wiki/wiki/cryptocurrency), more from an investing standpoint. The first time I dove into programming as a [blockchain](https://iq.wiki/wiki/blockchain) developer was when I read Dan Robinson's Dark Forest article, where he explained that [Ethereum](https://iq.wiki/wiki/ethereum) has a bunch of bots lurking in the mempool looking to make money. The day after I read that, and every day for the next two months, I stayed up until three in the morning after my day job working on that MEV bot and just fell in love with it. \"  \n  \n> \"This led me to the [Solana](https://iq.wiki/wiki/solana) Hackathon, where I participated and fell in love with the user experience on [Solana](https://iq.wiki/wiki/solana). I knew I wanted to go down this route but wasn't sure what it would look like. I had this theory that, seeing the success Flashbots had on [Ethereum](https://iq.wiki/wiki/ethereum) in reducing [gas](https://iq.wiki/wiki/gas) and making the chain run more efficiently, there was potential to explore similar opportunities. And then at the same time, I saw the inefficiencies that some of the low-fee, high-throughput chains were having with spam and MEVA. So I had this idea that the same thing would happen to [Solana](https://iq.wiki/wiki/solana). So I decided to dive into solving this on [Solana](https://iq.wiki/wiki/solana). And that's kind of the origin story of [Jito](https://iq.wiki/wiki/jito).”  \n  \nHe then explained why MEV was important to [blockchains](https://iq.wiki/wiki/blockchain): [\\[5\\]](#cite-id-cwkgk4ugao4)  \n  \n> “One is it can be a centralizing force on [blockchains](https://iq.wiki/wiki/blockchain). On chains where latency is super important, teams with the best infrastructure, lowest latency, and private deals can start to earn higher rewards than others and compound that stake back into their [validator](https://iq.wiki/wiki/validator). Another reason is that if MEV is not mitigated or captured properly, it can result in a poor user experience. During times of high volatility on [Solana](https://iq.wiki/wiki/solana), you can see this with arbitrage bots and liquidators spamming the chain to capture money. We released an MEV dashboard a few months ago, and if you look at arbitrage, the rate of failures in arbitrage is like 99%. Same with liquidations.”  \n  \n> “So all those wasted transactions are taking up space in blocks where a user's transactions could be. That's why we wanted to work on this problem: to ensure users have a good experience interacting with [blockchains](https://iq.wiki/wiki/blockchain) and to prevent centralization. Redistribution is also crucial to us, ensuring that [stakers](https://iq.wiki/wiki/staking) receive their fair share of MEV captured on these [blockchains](https://iq.wiki/wiki/blockchain). We're addressing these issues by building high-performance MEV infrastructure for [Solana](https://iq.wiki/wiki/solana). We have a few products, including [Jito](https://iq.wiki/wiki/jito)-[Solana](https://iq.wiki/wiki/solana), our [Solana Labs](https://iq.wiki/wiki/solana) [validator](https://iq.wiki/wiki/validator) [fork](https://iq.wiki/wiki/fork), which incorporates MEV parameters. This includes transaction bundles, which are lists of transactions that execute sequentially and atomically, and the MEV tip side.”  \n  \nWhen asked about [Jito’s](https://iq.wiki/wiki/jito) security strategy, Bruder responded: [\\[5\\]](#cite-id-cwkgk4ugao4)  \n  \n> “We're definitely taking auditing seriously and thinking about it from an attacker's perspective. We stress internally about how someone might break or abuse the system. This is crucial in application development, especially for on-chain programs, which, while somewhat isolated from the real world, still require consideration of potential vulnerabilities. Developing Layer 1 solutions is challenging, and although we're not developing an L1 ourselves, we recognize the difficulty of considering all possible attack vectors. We need to adopt an attacker's mindset and address common issues like race conditions and panics.”  \n  \n$$widget0 [YOUTUBE@VID](GyYY_SJCNow)$$  \n  \n## Future of Solana  \n  \nOn the Midcurve Podcast, Bruder shared insights into his career and the future of [Solana](https://iq.wiki/wiki/solana). He discussed his embedded systems and robotics background, including his work with Tesla and his work in automating construction equipment. Bruder also explained [Jito's](https://iq.wiki/wiki/jito) role in [Solana's](https://iq.wiki/wiki/solana) ecosystem, particularly focusing on [liquid staking](https://iq.wiki/wiki/liquid-staking) and its impact on network efficiency. He touched on challenges in the [crypto](https://iq.wiki/wiki/cryptocurrency) space, such as handling network bugs and maintaining reliability. He highlighted the importance of fast iteration and efficient algorithms for building successful applications on [Solana](https://iq.wiki/wiki/solana). [\\[6\\]](#cite-id-wqkuq2t5yxa)   \n$$widget0 [YOUTUBE@VID](G9232_6pE0Y)$$  \n  \n## Liquid Staking Tokens (LSTs)  \n  \nIn a fireside chat at [Consensus 2024](https://iq.wiki/wiki/consensus-by-coindesk), Bruder and Kyle Samani, managing partner of Multicoin Capital, discussed the evolution of [Liquid Staking](https://iq.wiki/wiki/liquid-staking) Tokens (LSTs) on [Solana](https://iq.wiki/wiki/solana), highlighting their growth from 1-2% to over 6% of total staking. The conversation covered the differences between single [validator](https://iq.wiki/wiki/validator) LSTs and decentralized solutions like [JitoSOL](https://iq.wiki/wiki/jito-staked-sol-jitosol), which distributes staking across 200 [validators](https://iq.wiki/wiki/validator) to enhance decentralization and yield. The panel also introduced StakeNet, a protocol to automate and decentralize LST management. They explored future [DeFi](https://iq.wiki/wiki/defi) innovations on [Solana](https://iq.wiki/wiki/solana), noting the challenges and unexpected complexities encountered, such as sophisticated network exploits and the need for robust, decentralized systems to ensure stability and security. [\\[7\\]](#cite-id-naciics1b0f) $$widget0 [YOUTUBE@VID](vqXz9NaDB5w)$$  \n  \n## Jito Labs  \n  \nOn the Logan Jastremski Podcast, Bruder discussed his background in engineering and his transition from working on hardware at Tesla to focusing on [blockchain](https://iq.wiki/wiki/blockchain) technology and [crypto](https://iq.wiki/wiki/cryptocurrency). He detailed his experiences with [Ethereum](https://iq.wiki/wiki/ethereum) and [Solana](https://iq.wiki/wiki/solana), highlighting the unique aspects of [Solana's](https://iq.wiki/wiki/solana) architecture, such as its lack of a global mempool and its transaction processing innovations. Bruder explained how [Jito Labs](https://iq.wiki/wiki/jito) addressed challenges in MEV (Maximal Extractable Value) through improved transaction bundling and infrastructure. He also discussed how their technology optimized [blockchain](https://iq.wiki/wiki/blockchain) performance and user experience, particularly transaction efficiency and reducing spam. [\\[8\\]](#cite-id-hlla2dpbh6)   \n$$widget0 [YOUTUBE@VID](WUBLLFTACVM)$$  \n  \n## MEV on Solana  \n  \nOn the Bell Curve Podcast, Eugene Chen and Bruder discussed how [Solana's](https://iq.wiki/wiki/solana) approach to Miner Extractable Value (MEV) differed from [Ethereum's](https://iq.wiki/wiki/ethereum), primarily due to [Solana's](https://iq.wiki/wiki/solana) lack of a mempool and its rapid block times. They explored the impact of [Solana's](https://iq.wiki/wiki/solana) low latency on transaction ordering and MEV exploitation, noting that [Solana's](https://iq.wiki/wiki/solana) transaction processing involved sending transactions to multiple block leaders. Bruder highlighted [Jito Labs'](https://iq.wiki/wiki/jito) efforts to address MEV by introducing a transaction bundling system with atomic execution guarantees. The conversation also covered the challenges of managing [transaction fees](https://iq.wiki/wiki/transaction-fee) and prioritization, focusing on how these issues might evolve with future enhancements like Proposer/Bidder Separation (PBS). [\\[9\\]](#cite-id-u3vb9pib5rg)   \n$$widget0 [YOUTUBE@VID](IknurQzmVhY)$$","summary":"Lucas Bruder is the CEO and co-founder of Jito Network, a liquid restaking platform on the Solana blockchain, and a Carnegie Mellon University graduate.","categories":[{"id":"people","title":"People in crypto"}],"promoted":0,"tags":[{"id":"Developers"},{"id":"Founders"},{"id":"PeopleInDeFi"}],"metadata":[{"id":"references","value":"[{\"id\":\"ci8hgqaa54\",\"url\":\"https://www.linkedin.com/in/lucasbruder/\",\"description\":\"Lucas Bruder | LinkedIn\",\"timestamp\":1722962793820},{\"id\":\"ys95w6fsgk\",\"url\":\"https://www.jito.network/\",\"description\":\"Jito Network\",\"timestamp\":1722962803388},{\"id\":\"ldxs3wt1kwn\",\"url\":\"https://blockworks.co/speaker/lucas-bruder\",\"description\":\"Lucas Bruder | Blockworks\",\"timestamp\":1722963035500},{\"id\":\"t07awbopog\",\"url\":\"https://www.youtube.com/watch?v=CP43ytBgJI8&pp=ygURbHVjYXMgYnJ1ZGVyIGppdG8%3D\",\"description\":\"How Jito is Unlocking Restaking for Solana | YouTube\",\"timestamp\":1722963413462},{\"id\":\"cwkgk4ugao4\",\"url\":\"https://www.youtube.com/watch?v=GyYY_SJCNow&pp=ygURbHVjYXMgYnJ1ZGVyIGppdG8%3D\",\"description\":\"Halborn Flash Videos with Lucas Bruder | YouTube\",\"timestamp\":1722963631470},{\"id\":\"wqkuq2t5yxa\",\"url\":\"https://www.youtube.com/watch?v=G9232_6pE0Y&pp=ygURbHVjYXMgYnJ1ZGVyIGppdG8%3D\",\"description\":\"Jito and the Future of Solana with Lucas Bruder | YouTube\",\"timestamp\":1722963736759},{\"id\":\"naciics1b0f\",\"url\":\"https://www.youtube.com/watch?v=vqXz9NaDB5w&pp=ygURbHVjYXMgYnJ1ZGVyIGppdG8%3D\",\"description\":\"Fireside Chat: Jito Labs | Snapshot | Consensus 2024 | YouTube\",\"timestamp\":1722963790821},{\"id\":\"hlla2dpbh6\",\"url\":\"https://www.youtube.com/watch?v=WUBLLFTACVM&pp=ygURbHVjYXMgYnJ1ZGVyIGppdG8%3D\",\"description\":\"Logan Jastremski Podcast Interview with Lucas Bruder | YouTube\",\"timestamp\":1722963843864},{\"id\":\"u3vb9pib5rg\",\"url\":\"https://www.youtube.com/watch?v=IknurQzmVhY&pp=ygURbHVjYXMgYnJ1ZGVyIGppdG8%3D\",\"description\":\"Solana's MEV Problem with Eugene Chen and Lucas Bruder | YouTube\",\"timestamp\":1722963896303}]"},{"id":"website","value":"https://www.jito.network/"},{"id":"twitter_profile","value":"https://twitter.com/buffalu__"},{"id":"linkedin_profile","value":"https://www.linkedin.com/in/lucasbruder/"}],"user":{"id":"0xacb6c5AD52b8f605299B0d774CE97F26e3DB80c2"},"author":{"id":""},"media":[{"name":"JuRm0KDr2ew","size":0,"id":"https://www.youtube.com/watch?v=JuRm0KDr2ew","source":"YOUTUBE"},{"name":"DjpB38KMq7Q","size":0,"id":"https://www.youtube.com/watch?v=DjpB38KMq7Q","source":"YOUTUBE"},{"name":"CP43ytBgJI8","size":0,"id":"https://www.youtube.com/watch?v=CP43ytBgJI8","source":"YOUTUBE"},{"name":"GyYY_SJCNow","size":0,"id":"https://www.youtube.com/watch?v=GyYY_SJCNow","source":"YOUTUBE"},{"name":"G9232_6pE0Y","size":0,"id":"https://www.youtube.com/watch?v=G9232_6pE0Y","source":"YOUTUBE"},{"name":"vqXz9NaDB5w","size":0,"id":"https://www.youtube.com/watch?v=vqXz9NaDB5w","source":"YOUTUBE"},{"name":"WUBLLFTACVM","size":0,"id":"https://www.youtube.com/watch?v=WUBLLFTACVM","source":"YOUTUBE"},{"name":"IknurQzmVhY","size":0,"id":"https://www.youtube.com/watch?v=IknurQzmVhY","source":"YOUTUBE"}],"views":0,"events":[],"linkedWikis":{"founders":[],"blockchains":[],"speakers":[]},"images":[{"id":"QmSM98sSYrihmJotZDyMVfBAd5LLNzpYG8T37b93cLNmVf","type":"image/jpeg, image/png"}]}