This report covers Figment’s main Solana validator and its activity through January, February, and March 2026 (Epochs 904–949). On Solana, Figment is one of the largest non-custodial protocol staking providers. Unless otherwise stated, all data is sourced from Figment’s internal analytics.
We distinguish between metrics within Figment’s operational control and metrics subject to external factors:
Within Figment’s control: Voting Effectiveness and Voting Latency.
Subject to external factors: Skip Rate – a lagging indicator influenced by whether previous leaders delay when our validator sees a previously confirmed block. Skip rate is best evaluated by comparing operators over the same time period, not by comparing individual validators over brief windows, given selective data, transaction fee volatility, and stake weight differences.
Q1 Metrics
- ~67% of SOL total supply staked
- 6.6% share of staked SOL held by Figment validators
- Figment’s Total Gross SRR: 6.93% (vs. network average of 5.09%)*
- Skip Rate: 0.017% — the percent of leader slots in which a validator fails to produce a confirmed block (source, Solana)
- Voting Effectiveness: 99.4% — the percentage of correct votes, modulated by latency (source, Rated, trailing 30 days)
- Voting Latency: 1.02 slots — time between a slot landing and our validator’s vote (≤2 slots is optimal)
*Total Gross SRR represents validator-level performance before commission and fee structures and reflects inflation rewards, Jito MEV tips, and priority fees. Individual delegator rewards vary based on staking arrangement.
Validator Upgrade: Rakurai
Figment completed the migration of figment-1 to the Rakurai validator client on March 2nd. Rakurai client is a proprietary scheduler. Their scheduler optimizes transaction ordering and block production efficiency. Per slot, it processes more user transactions, uses more compute units (fuller slots) and lands transactions consistently throughout the slot. Rakurai therefore captures higher priority fees and MEV tips for Figment’s Solana validator, without exposing order flow or extending block times.
Post-migration, Rakurai immediately delivered a 32 basis point SRR lift, from 6.85% pre-migration to 7.17% post-migration. Importantly, Rakurai operates within the Solana Foundation Delegation Program’s fair transaction handling requirements and scores above the cluster median on sandwiched.me, a community tool by https://tryghost.xyz/ often used by the Foundation for referencing client scoring.
If the Rakurai scheduler is ever disabled, our validator automatically falls back to the standard Agave-Jito client, meaning delegators face no interruption to staking operations. We vigilantly monitor performance and optimize accordingly.
Security and Risk Management
As Solana scales throughput and introduces protocol-level changes, validator security and operational discipline are critical to sustaining reliable rewards and minimizing downside risk.
Non-Custodial, Safety-First Architecture
Figment operates a non-custodial validator model on Solana. We do not custody client assets, control withdrawal authority, or operate signing wallets on behalf of delegators. Stake authority remains with the delegator at all times.
This model is reinforced by strict separation of duties across validator operations, access control, and governance workflows, reducing the risk of correlated operational failures. Figment applies its “Safety Over Liveness” philosophy to Solana by prioritizing vote integrity and long-term stake protection over marginal performance gains or aggressive configuration changes. Validator updates, client releases, and protocol upgrades are evaluated conservatively and deployed only after thorough testing.
Solana Rewards
Source: Figment Internal data
Figment’s Total Gross SRR throughout Q1 was 6.93% — over 30% above the network average SRR of 5.09%. This reflects the combined value of inflation rewards, Jito MEV tips, and priority fees.*
Our report focuses on two reward types for delegators: inflationary rewards and Jito MEV rewards.
*Total Gross SRR represents validator-level performance before commission and fee structures. Individual delegator rewards vary based on staking arrangement.
Validator Distribution
Figment’s validator fleet is intentionally distributed to minimize correlated risk across geography, infrastructure providers, and client software, so that localized outages, provider-level failures, or client-specific issues do not materially impact delegated stake.
Figment currently operates Solana validators across 6 countries and 10+ data center locations, with support for multiple validator clients.
MEV on Solana
Solana’s disinflation rate is -15% annually, reducing inflation rewards per epoch until they reach a terminal rate of 1.5%. As inflation rewards decline, MEV becomes an increasingly significant component of validator economics.
Figment’s Solana validator runs Jito’s block engine via the Rakurai client, capturing supplemental MEV tips for delegators in addition to native inflationary rewards. In Q1 2026, MEV contributed approximately 0.36% of total staking rewards.
Looking Forward: Continued Solana Developments
Figment is partnering with DoubleZero and bloXroute as a data provider for Solana shreds, the smallest unit of data on Solana. Latency-sensitive participants (traders, arbitrageurs) require shred data as fast as possible. Both DoubleZero and bloXroute offer broad shred coverage on Solana.
If you are interested in Solana Data Shreds, contact us here to learn more.
Stake SOL with Figment
Figment operates one of the largest non-custodial Solana staking infrastructures, serving institutional clients including asset managers, exchanges, wallets, foundations, and custodians.
What Figment offers for Solana staking:
- More Rewards: Figment supports JitoMEV relay
- Figment App: Stake, unstake, view positions in real time, track portfolio across networks, and download detailed reward reports
Staking rewards are variable and not guaranteed. Past performance is not indicative of future results. Staking involves risk, including potential loss of rewards due to slashing or validator downtime.
Want to learn more about staking Solana? Schedule a meeting with us.
Ready now to stake? Sign up now to the Figment App and start earning rewards on Solana.
