Jito proposes a block marketplace to turn Solana into a ‘decentralized Nasdaq’
Jito Labs published a proposal for a Block Assembly Marketplace (BAM) on July 21, a transaction-sequencing system that would enable developers to run central-limit order books, perpetual exchanges, and dark pools on Solana without altering the base protocol.
The design introduces a network of BAM Nodes that sit beside the existing validator set, order encrypted transactions inside Trusted Execution Environments, and forward them to the leader with cryptographic attestations of sequence integrity.
From privacy to auditability in one pipeline
According to the document, BAM Validators running an updated Jito-Solana client then execute the ordered bundle, returning proofs that they have followed the instructions.
The proposal cites three technical goals. The first is keeping orders private until execution to curb harmful MEV, while creating a public audit trail of every ordered bundle. Lastly, BAM intends to give applications direct access to scheduling logic through Plugins.
Each plugin can inject or reorder instructions inside the enclave, enabling application-controlled execution for use cases such as “just-in-time” oracle updates or priority cancel-replace flows for market makers.
According to the roadmap, a revenue split channels plugin fees to node operators, validators, stakers, and the Jito DAO.
Phased rollout
Jito will operate the first BAM Nodes while an alpha validator cohort, consisting of Triton One, SOL Strategies, Figment, Helius, and others, tests the client.
The plan seeks a “high single-digit” percentage of delegated stake shortly after launch, then 30% or more as additional node operators join. Jito aims to open-source the code and reach 50 geographically distributed nodes before handing governance to the DAO.
Jito argues that BAM offers institutions deterministic execution and verifiable privacy, two requirements often cited by high-frequency traders.
By allowing custom sequencing without private mempools or off-chain deals, the system could attract order flow that now migrates to centralized venues.
The firm added that Solana’s existing throughput positions the chain to act as a decentralized Nasdaq once plugins for perpetuals and dark pools arrive.
Jito Labs intends to submit a governance proposal directing all BAM and block-engine fees to the Jito DAO treasury while the company continues technical maintenance. The approach would shift value capture from MEV extraction to fee-sharing for scheduling services, the document said.
The Block Assembly Marketplace plan now awaits feedback from validators, developers, and token holders before the code moves into production testing.
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