Inside JTX: Jito’s New Trading Platform | Lucas Bruder

JTX is Jito's new trading platform targeting prosumer and professional retail traders on Solana, covering spot, perpetuals, and prediction markets, with the stated goal of hosting every market tradable on the chain. Bruder frames the primary competitive target as centralized exchanges and high-performance perp DEXs like Hyperliquid, not Jupiter, Dflow, or Titan. He argues Hyperliquid has a good UI but lacks Solana's execution quality and charting tools.

Bruder claims Solana has been the cheapest place to trade SOL, ETH, BTC, and several other major assets for the past few months, but says that fact has remained largely confined to crypto Twitter. JTX will show users in real time how much they saved on each trade compared to the centralized exchange price at that exact moment, making the cost advantage visible and concrete.

For aggregation JTX uses Dflow, for perpetuals it uses Phoenix Perps, and for prediction markets it uses an unnamed upcoming Solana project. The launch sequence is spot first, then perpetuals, then prediction markets, with desktop as the primary focus and a mobile app likely following shortly after launch.

Token disambiguation is identified as a core trust problem, with Bruder noting that searching for Bitcoin on a Solana DEX returns hundreds of tokens and that he personally lost a few thousand dollars buying the wrong token by mistake. The Solana Foundation released a tokens product a few months before recording that attempts to address this as a public good.

BAM is Jito's next-generation transaction processing system designed to improve execution quality and market infrastructure. The Maker Priority plugin for BAM shipped the week before recording and is fully rolled out across roughly 28 percent of stake, allowing market makers to quote tighter spreads. BAM code is not open source at the time of recording but Bruder says it is planned to become open source later in 2025 so users can verify what code runs inside the trusted execution environments.

Bruder argues that infrastructure like BAM does not bring users on chain on its own, and that JTX represents Jito taking direct control of user acquisition and distribution. The host observes that most value in the trading stack accrues to the trading layer rather than the infrastructure layer and that infrastructure fees face compression over time.

The JTX team and BAM team are described as completely separate with only occasional cross-team collaboration. Bruder says vertical integration concerns are unfounded because anything built in BAM will be available to all participants, not exclusively to JTX. The practical advantage of owning both products is that internal iteration on execution features can happen within a day rather than requiring third-party coordination, and JTX can serve as a dog-fooding environment for BAM plugins.

A potential future feature is placing stop-loss and take-profit orders inside BAM so they remain fully private and execute automatically without being visible on-chain. Bruder says this is not the current priority because BAM is at only around 30 percent of stake and needs broader adoption first.

Bruder says Jito has massively cut resources on restaking, describing that opportunity as a ship that has sailed, and engineering investment in Jito Sol has also been reduced, with remaining Jito Sol work described as institutional go-to-market activity planned for later in the year. He expects JTX to become the majority revenue source for Jito within roughly one year.

Bruder's one-year success target for JTX is Solana holding the number one spot volume across all blockchains and surpassing top centralized exchanges, with JTX capturing at least 50 percent of on-chain trading market share. He also argues that listing more RWAs and commodities on-chain is necessary to attract real traders to Solana, and that the bigger gap in Solana perpetuals adoption is converting existing spot and meme coin traders rather than fixing market structure, which he says has improved significantly compared to one to one and a half years ago.