Jito
Jito
JTO
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- Sep 24,2024Proposed a major restructuring of the collateral module, transitioning control of certain assets to Jito DAO, marking a shift towards more decentralized governance. This proposal also included incentives to bolster the DAO’s treasury, directly allocating fees and funds from staking operations to Jito DAO, aimed at long-term sustainability
- Sep 19,2024Expanded its collateral offerings by introducing ezUSDC, a new stable-backed collateral on the Jito Restake platform, facilitating broader use cases and opportunities for DeFi participants across Solana.
- Sep 11,2024Introduced a gas-free voting feature, made possible through integrations with LayerZero V2 and ZKsync. This update eliminated gas fees for governance participation, encouraging active involvement from DAO members and enabling seamless voting experiences.
- Aug 28,2024Formed a partnership with Fragments to introduce fragSOL, a novel derivative product based on the Jito Restake Vault Receipt Token (VRT). This collaboration enabled users to leverage MEV-optimized staking further by providing greater flexibility and liquidity.
- Aug 14,2024JitoSOL was integrated as an over-the-counter (OTC) trading product by Wintermute, marking the first instance of an LST being recognized in this capacity, thus expanding liquidity options for users. The same day, Jito Labs collaborated with Renzo Protocol to launch ezSOL, a new token backed by JitoSOL, aimed at enhancing yield potential for Solana stakers.
Jito Info
- Sep 24,2024Proposed a major restructuring of the collateral module, transitioning control of certain assets to Jito DAO, marking a shift towards more decentralized governance. This proposal also included incentives to bolster the DAO’s treasury, directly allocating fees and funds from staking operations to Jito DAO, aimed at long-term sustainability
- Sep 19,2024Expanded its collateral offerings by introducing ezUSDC, a new stable-backed collateral on the Jito Restake platform, facilitating broader use cases and opportunities for DeFi participants across Solana.
- Sep 11,2024Introduced a gas-free voting feature, made possible through integrations with LayerZero V2 and ZKsync. This update eliminated gas fees for governance participation, encouraging active involvement from DAO members and enabling seamless voting experiences.
- Aug 28,2024Formed a partnership with Fragments to introduce fragSOL, a novel derivative product based on the Jito Restake Vault Receipt Token (VRT). This collaboration enabled users to leverage MEV-optimized staking further by providing greater flexibility and liquidity.
- Aug 14,2024JitoSOL was integrated as an over-the-counter (OTC) trading product by Wintermute, marking the first instance of an LST being recognized in this capacity, thus expanding liquidity options for users. The same day, Jito Labs collaborated with Renzo Protocol to launch ezSOL, a new token backed by JitoSOL, aimed at enhancing yield potential for Solana stakers.
Jito Team
OrganizationsJito Intro
Jito (JTO) is a cryptocurrency launched in 2023, operating on the Solana blockchain. It plays a pivotal role within the Solana ecosystem by providing a liquid staking solution through its JitoSOL pool, along with a suite of MEV (Maximal Extractable Value) products. Jito’s infrastructure allows users to convert their SOL (Solana's native token) into JitoSOL, enabling them to earn staking rewards while maintaining liquidity and access to DeFi (Decentralized Finance) opportunities.
One of the unique features of Jito is its approach to MEV. By redistributing profits generated from MEV activities, such as transaction re-ordering and arbitrage, Jito mitigates the negative effects typically associated with MEV, ensuring a fairer and more profitable ecosystem. When users stake their SOL in exchange for JitoSOL, their assets are utilized by MEV-enabled validators to generate higher yields, offering a more attractive staking alternative. This mechanism not only enhances yield potential for stakers but also preserves liquidity and active participation in on-chain governance for SOL holders.
Jito Labs, the team behind Jito, was established in 2021. The project gained early support through a Series A funding round in August 2022, backed by prominent crypto venture firms including Multicoin Capital and Framework Ventures. Its innovative approach to liquid staking and MEV has also attracted the attention of major exchanges, with Binance listing Jito (JTO) as a governance token, further solidifying its presence in the broader crypto market.
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Q&A about Jito Tokenomics
Explore the tokenomics of Jito(JTO) and review the project details below.
What is the allocation for Jito(JTO)?
The total supply of Jito (JTO) tokens is set at 1 billion, with a specific allocation plan designed to support various aspects of the Jito Network's ecosystem and growth:
- 25% are allocated for ecosystem development, intended to fund communities and contributors aiding the project’s growth.
- 24.5% are set aside for the core contributors, including employees, partners, and other internal project contributors. These tokens are distributed evenly over three years, starting one year after the airdrop.
- 16.2% are allocated to investors, to be distributed similarly over three years, beginning a year post-airdrop.
- 34.3% are designated for community growth. This includes 10% for the airdrop, with the remainder managed by DAO governance on the Realms platform
What is the supply schedule for Jito(JTO)?
The supply schedule for Jito (JTO) tokens is structured as follows:
- Team Allocation (245 million JTO): These tokens are distributed over three years, with the distribution commencing one year after the airdrop.
- Investor Allocation (162 million JTO): Similar to the team allocation, these tokens are also distributed over a three-year period, beginning a year post-airdrop.
This structured distribution is aimed at ensuring a gradual release of tokens into the market, aligning with the growth and development of the Jito Network.
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Jito (JTO) is a cryptocurrency launched in 2023, operating on the Solana blockchain. It plays a pivotal role within the Solana ecosystem by providing a liquid staking solution through its JitoSOL pool, along with a suite of MEV (Maximal Extractable Value) products. Jito’s infrastructure allows users to convert their SOL (Solana's native token) into JitoSOL, enabling them to earn staking rewards while maintaining liquidity and access to DeFi (Decentralized Finance) opportunities.
One of the unique features of Jito is its approach to MEV. By redistributing profits generated from MEV activities, such as transaction re-ordering and arbitrage, Jito mitigates the negative effects typically associated with MEV, ensuring a fairer and more profitable ecosystem. When users stake their SOL in exchange for JitoSOL, their assets are utilized by MEV-enabled validators to generate higher yields, offering a more attractive staking alternative. This mechanism not only enhances yield potential for stakers but also preserves liquidity and active participation in on-chain governance for SOL holders.
Jito Labs, the team behind Jito, was established in 2021. The project gained early support through a Series A funding round in August 2022, backed by prominent crypto venture firms including Multicoin Capital and Framework Ventures. Its innovative approach to liquid staking and MEV has also attracted the attention of major exchanges, with Binance listing Jito (JTO) as a governance token, further solidifying its presence in the broader crypto market.