Jito Labs revealed a proposal for a Block Meeting Market (BAM) on July 21, a transaction-sequencing system that may allow builders to run central-limit order books, perpetual exchanges, and darkish swimming pools on Solana with out altering the bottom protocol.
The design introduces a community of BAM Nodes that sit beside the present validator set, order encrypted transactions inside Trusted Execution Environments, and ahead them to the chief with cryptographic attestations of sequence integrity.
From privateness to auditability in a single pipeline
Based on the doc, BAM Validators operating an up to date Jito-Solana shopper then execute the ordered bundle, returning proofs that they’ve adopted the directions.
The proposal cites three technical objectives. The primary is maintaining orders non-public till execution to curb dangerous MEV, whereas making a public audit path of each ordered bundle. Lastly, BAM intends to present functions direct entry to scheduling logic by means of Plugins.
Every plugin can inject or reorder directions contained in the enclave, enabling application-controlled execution to be used instances equivalent to “just-in-time” oracle updates or precedence cancel-replace flows for market makers.
Based on the roadmap, a income break up channels plugin charges to node operators, validators, stakers, and the Jito DAO.
Phased rollout
Jito will function the primary BAM Nodes whereas an alpha validator cohort, consisting of Triton One, SOL Methods, Figment, Helius, and others, exams the shopper.
The plan seeks a “excessive single-digit” proportion of delegated stake shortly after launch, then 30% or extra as extra node operators be part of. Jito goals to open-source the code and attain 50 geographically distributed nodes earlier than handing governance to the DAO.
Jito argues that BAM provides establishments deterministic execution and verifiable privateness, two necessities usually cited by high-frequency merchants.
By permitting customized sequencing with out non-public mempools or off-chain offers, the system may entice order move that now migrates to centralized venues.
The agency added that Solana’s current throughput positions the chain to behave as a decentralized Nasdaq as soon as plugins for perpetuals and darkish swimming pools arrive.
Jito Labs intends to submit a governance proposal directing all BAM and block-engine charges to the Jito DAO treasury whereas the corporate continues technical upkeep. The strategy would shift worth seize from MEV extraction to fee-sharing for scheduling providers, the doc stated.
The Block Meeting Market plan now awaits suggestions from validators, builders, and token holders earlier than the code strikes into manufacturing testing.