This report covers Figment’s main Solana validator and its activity through April to June, 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.
Q2 Metrics
- ~75% of SOL Circulating Supply is staked (Solscan.io Solana Staking)
- Figment’s validator average Staking Rewards Rate (SRR) throughout Q2 was 7.45%, over 10% higher than the network average SRR of 6.7%
- Skip Rate: 0.15%
- 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: 99.84%
- The percentage of correct votes, modulated by its latencies. (*over the past 30 days – source, Rated)
- Voting Latency: 1.07
- 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 765-810 (April 1st – June 30th). This provides a comprehensive view of Solana’s staking rewards performance during Q2.
As a snapshot of Solana’s staking rewards performance during Q2, our report focuses on two types of rewards for delegators: inflationary and Jito MEV rewards.
Figment’s validator in Q2 continues to outperform the network average. Figment’s Staking Reward Rate (SRR) of 7.45%, over 10% greater than network average SRR of 6.7%. Figment’s outperformance is partially attributed to Jito MEV rewards, which we will explore in the next section.
MEV on Solana
The evolving landscape of Solana’s monetary policy directly impacts institutional staking strategies. Prioritizing MEV infrastructure and transparent client advocacy processes position us to navigate these changes while maximizing returns for our delegators.
Our early adoption of Jito MEV infrastructure delivered 13-15% of total staking rewards in Q2 2025, demonstrating the growing importance of MEV in Solana’s reward structure.
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 Q2.
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.
This MEV advantage becomes increasingly critical as baseline inflation decreases. Under potential future inflation reductions via MESA or similar proposals, MEV could represent 20-25% of total validator rewards during high-activity periods, favoring operators with sophisticated MEV extraction capabilities.
Looking Forward: Alpenglow
Additional protocol developments include SIMD-0256 (increasing block limits to 60M compute units for 20% higher throughput) and SIMD-0249 (requiring epoch-delayed commission changes for enhanced delegator protection). Figment’s infrastructure has been optimized for these upgrades, ensuring seamless service continuity.
Solana’s Alpenglow upgrade — slated for late-2025 – early 2026 — represents the most significant consensus overhaul since launch. All consensus voting is done offchain with BLS certificates, reducing one of the highest operating costs for validators (1.1 SOL/day vote fees, ~400 SOL/year). By replacing Proof of History and Tower BFT with the new Votor and Rotor components, Alpenglow will cut block finality from ~12.8 seconds to 100–150 milliseconds, enabling near-instant transaction confirmation and Web2-level responsiveness for enterprise applications.
Figment’s infrastructure team is prepared to stress-test our validator against the new data propagation and voting model to ensure seamless adoption and uninterrupted service for institutional staking clients.
Concurrently, SIMD-123 (approved March 2025 with 74.91% support) will embed priority-fee sharing directly into Solana’s protocol, allowing validators to set commission rates and automatically distribute post-commission block rewards to delegators. SIMD-123 drives higher reward rates for delegators, while simplifying financial reporting and reconciliation. As all priority fees accrue to their respective stake accounts.
Together, these upgrades will enhance both network performance and economic alignment, reinforcing Figment’s commitment to pioneering high-performance, client-centric staking solutions.
Our combination of superior MEV performance, transparent governance participation, and institutional-grade infrastructure creates a compelling value proposition as Solana’s monetary policy evolves. We remain committed to maximizing rewards while maintaining operational excellence and representing client interests in shaping Solana’s economic future.
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.
