Jito Foundation announced the launch of its governance token, JTO, marking the entry into a new era of community-led governance.
The token will empower the community with significant decision-making powers to drive the future of Jito, which, according to the developers themselves, is the fastest growing liquid staking protocol on the Solana network.
JTO token will allow token holders to:
- To determine the fees for the JitoSOL staking pool.
- Updating delegation strategies by checking StakeNet parameters.
- Managing the DAO treasury of JTO tokens and income from JitoSOL.
- Contributing to the development of Jito Network.
The total supply of the token, which will begin to be traded under the short name JTO, will be 1 billion, and the total supply to be launched will be 115 million JTO.
In recognition of their contribution to establishing the network, 10% of the total JTO supply will be retroactively airdropped to members of the Jito cryptocurrency community. This includes JitoSOL holders, Solana validators running the Jito-Solana MEV client, and researchers actively using Jito Network's MEV programs.
The airdrop will be evaluated retroactively and the snapshot for the eligible activity was taken on November 25, 2023.
*This is not investment advice.