This report covers Figment’s main Solana validator and its activity through January to March, 2025. On Solana, Figment is one of the largest independent protocol staking providers. This quarter, Figment highlights the increase in Maximal Extractable Value or MEV, on Solana and its role in increasing rewards for Solana Delegators.
Unless otherwise stated, all of the data utilized in this report is powered by Figment’s Data team.
We differentiate between validator metrics within Figment’s operational control & expertise to influence performance, and “external factors” outside of our control to influence. Metrics fully within our control: Voting Effectiveness and Voting Latency. Metrics subject to external factors: Skip Rate, as a lagging, previous leader delays when our validator sees a previously confirmed block (leading to failed block production and higher skip rate). Skip rate is best used in comparison to other validator operators over the same time period. Comparing individual validators over a brief period does not provide an accurate representation due to selective data, transaction fee volatility, and stake weight.
Q1 Metrics
- ~80% of SOL Circulating Supply is staked (Solscan.io Solana Staking)
- Figment’s validator average Staking Rewards Rate (SRR) throughout Q1 was 8.42%, over 27% higher than the network average SRR of 6.41%
- Skip Rate: 0.33%
- Skip rate is the percent of leader slots in which a validator fails to produce a block which is eventually confirmed by the network. (source, Solana)
- Voting Effectiveness: 99.7%
- The percentage of correct votes, modulated by its latencies. (*over the past 30 days – source, Rated)
- Voting Latency: 1.18
- How fast did our validator correctly vote on a Leader’s landed slot (≤ 2 slots is optimal)
- Distance (measured in slots) between when a slot is landed by a leader and when a non-leader votes on the slot
- Timely Voting Credits matter. Validators who vote within 2 slots of a block’s production earn full protocol inflation rewards for that vote
Solana Rewards
Our report spans Epochs 720-764 (January 1st-March 31st). This provides a comprehensive view of Solana’s staking rewards performance during Q1.
As a snapshot of Solana’s staking rewards performance during Q1, our report focuses on two types of rewards for delegators: inflationary and Jito MEV rewards.
Figment’s validator in Q1 continues to outperform the network average. Figment’s Staking Reward Rate (SRR) of 8.91%, over 25% greater than network average SRR of 6.92%. Figment’s outperformance is partially attributed to Jito MEV rewards, which we will explore in the next section.
MEV on Solana
During Q1 2025,, Figment usage of the Jito-Solana validator client maximizes our delegator’s rewards. Figment’s delegators earned a boost to their overall staking rewards and Jito MEV tips accounted for over 22% of the total rewards earned by Figment in Q1.
Figment’s Solana Ecosystem Lead, David Liang, released an article detailing the all-time high staking reward rates that Solana achieved in Q4 through Jito-Solana and Maximal Extractable Value (MEV).
The substantial contribution of MEV rewards highlights Figment’s effective strategy in adopting the Jito-Solana client. Jito’s Stakenet validator comparison tool, shows Figment outperforms in MEV earned per 1K SOL staked during times of high MEV activity. As a Jito-Solana client validator, Figment captures supplemental value for delegators, in addition to native protocol inflationary rewards. This boost in total rewards from MEV, helps Figment’s delegators achieve higher average SRRs and earn more Solana rewards than the network throughout Q1.
The past quarter reemphasizes the importance of MEV in Solana’s staking rewards, and demonstrates Figment’s commitment to optimizing rewards delegators.
Solana’s disinflation rate is -15% annually, reducing inflation rewards per epoch till they reach a terminal inflation rate of 1.5%. As inflation rewards shrink, Maximum Extractable Value (MEV) becomes a significant component of validator rewards. In this evolving landscape, Figment is strategically positioned to capitalize on these changes.
2024 Performance: Leading Through Risk-Adjusted Rewards
Throughout 2024 between Epochs 554-719 (Jan 1 2024 – Dec 31 2024), Figment maintained consistently strong performance on Solana, delivering an average Staking Reward Rate (SRR) of 7.71% compared to the network average of 6.80% – outperforming by over 12%. This outperformance reflects our disciplined approach to maximizing risk-adjusted rewards while maintaining strict adherence to protocol standards and best practices.
Risk-adjusted rewards represent the true value proposition for institutional stakers, accounting for both rewards and the various risks involved in generating them. On Solana, we achieve this through infrastructure optimization, paired with integration of MEV through the Jito-Solana client. Throughout 2024, MEV rewards made up roughly 15% of the overall Solana staking rewards.
By “playing by the book” with our infrastructure, we’ve demonstrated that institutional-grade operations can deliver superior returns without taking unnecessary risks. This balanced approach has enabled us to consistently outperform network averages while maintaining the security and reliability standards our institutional clients require.
Stake SOL with Figment
Figment provides the complete staking solution for over 700+ institutional clients, including asset managers, exchanges, wallets, foundations, custodians, and large token holders, to earn rewards on their digital assets.
On Solana, Figment is one of the largest non-custodial staking providers of staked SOL. Institutional staking services from Figment include seamless point-and-click staking, portfolio reward tracking, API integrations, audited infrastructure, and slashing protection. This is just one part of Figment’s mission to support the adoption, growth, and long-term success of the digital asset ecosystem.
When it comes to Staking Solana, Figment offers:
- More Rewards: Figment supports JitoMEV relay.
- Click-to-Stake: Experience the best staking interface for SOL with access to the Figment app. View your staking positions in real-time as well as stake, unstake, and view rewards. Track your portfolio across multiple networks and download detailed reports.
- Optimized Rewards Reporting: Access detailed and comprehensive rewards statements in various formats.
Figment offers a seamless Solana staking experience. Individual users maintain control with true non-custodial staking while institutions benefit from Figment’s robust infrastructure that provides security and optimized rewards. Sign up now and start staking Solana.
