Jito, the second-largest Solana-based protocol by total value locked, is about to launch a governance token and airdrop part of the supply to past users.<\/p>\n
Jito, the second-largest Solana-based protocol by total value locked, is about to launch a governance token and airdrop part of the supply to past users.<\/p>\n
The JTO token will have total supply of 1 billion, 10% of which will be airdropped to users who have contributed to the Jito Network’s development over time. A snapshot to determine user activity was taken on Nov. 25.<\/p>\n
The airdrop by the Cayman Islands-based Foundation consists of 90 million JTO tokens for immediate distribution and an additional 10 million JTO unlocking over the next year, according to a Nov. 27 post<\/a> from the Foundation.<\/p>\n Jito is an infrastructure developer for the Solana ecosystem with the goal of minimizing the negative impact of MEV, or Maximal Extractable Value. Its JitoSOL token – not to be confused with the JTO governance token being launched – is a liquid staking derivative with TVL of 6.8 million SOL, according to the post. <\/p>\n The move to launch a governance token is designed to give community members a direct role in making decisions that influence the future direction of the Jito Network, according to the announcement post.<\/p>\n The JTO token will let holders participate in key decisions including, setting JitoSOL stake pool fees, updating delegation strategies, managing the DAO-held JTO treasury and fees accrued from JitoSOL, and contributing to the continuous improvement of Jito’s protocols and products.<\/p>\n Long-standing JitoSOL holders, users engaging with JitoSOL on various DeFi protocols, Solana validators operating the Jito-Solana MEV client, and searchers actively utilizing Jito Network\u2019s MEV products, are some of the users eligible for the airdrop.<\/p>\n Of JTO’s total supply of f 1 billion, 34.3% will be allocated towards community growth — the 100 million of JTO tokens for the airdrop come from this pool. <\/p>\n A pool of 25% of the total supply will go to ecosystem development, 24.5% will support core contributors, and 16.2% will go to investors. Investors’ tokens will unlock over three years, with a one-year cliff.<\/p>\nInfluence Decision-Making<\/h2>\n
Airdrop Eligibility <\/h2>\n