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About Solana Jito Transactions with BundleOnly=True
When sending a single Jito transaction on the Solana blockchain, you face a common dilemma: how to bundle transactions while ensuring their integrity and security. One way to do this is by using the bundleOnly parameter in Jito transactions.
In this article, we will dive into the details of creating Jito transactions with bundle-only true, focusing on what it means for them to be protected from revert and Mean Time to Exit (MEV).
What are Jito transactions?
Jito is a Solana-specific transaction protocol that allows you to send multiple assets as a single transaction. It is especially useful when you need to transfer a small amount of one asset in exchange for another, while also tipping the network and leaving a margin for potential profit (MEV).
What is bundleOnly=True?
When bundleOnly=True, Solana will attempt to create a bundle from your transactions. This means that if you are sending multiple assets with different transaction IDs or gas prices, they will be combined into a single bundle.
Here is an example of what the bundled Jito transaction might look like:
Jito {
input {
address = "0x1234567890abcdef"
gasPrice = 1000000
amount {
assetType = "token"
tokenAddress = "0x9876543210fedcba"
quantity = 10
}
}
output {
address = "0xabcdef12345"
gasPrice = 10000
amount {
assetType = "token"
tokenAddress = "0x4567890123456789"
quantity = 20
}
}
}
In this example, we have created a single Jito transaction with two input and output assets.
Revert Protection
By default, Solana transactions are considered revertible. However, if you use the bundleOnly=True parameter, the bundled transaction will be considered non-revertible. This means that if any of the individual inputs fail or are rejected by the network, the entire transaction will be reverted to its original state.
To mitigate this risk, you can enable revert protection for transactions using the revertProtect function in the Solana JavaScript SDK.
const Jito = require('@solana/web3.js').Jito;
// Create a new Jito transaction with revert protection
const transaction = new Jito({
inputs: [
{
address: "0x1234567890abcdef",
gasPrice: 1000000,
amount: {
assetType: 'token',
tokenAddress: '0x9876543210fedcba',
quantity: 10
}
},
{
address: "0x4567890123456789",
gasPrice: 10000,
amount: {
assetType: 'token',
tokenAddress: '0x7654321098765432',
quantity: 20
}
}
],
output: [
{
address: "0xabcdef12345",
gasPrice: 10000,
amount: {
assetType: 'token',
tokenAddress: '0x901234567890abcdef',
quantity: 30
}
}
]
});
// Execute the transaction
transaction.sign();
MEV Protection
To further protect your bundled transactions, you can use the mevProtect function to enable MEV protection. This will ensure that all potential profits from market fluctuations are protected.
Here is an example of how to create a MeV-protected Jito transaction:
“`javascript
const Jito = require(‘@solana/web3.js’).
